In the Money with Amber Kanwar

What does real wealth management look like when your biggest asset isn’t your portfolio — but your business, your family, and your time?On this special episode of In the Money with Amber Kanwar, Amber sits down with Danielle Martin, Senior Wealth Advisor and Portfolio Manager, ScotiaMcLeod, who specializes in working with business owners, dentists, and medical professionals with complex financial lives. Together, they move beyond stock picking and into the realities of holistic wealth planning — from tax strategy and insurance to legacy planning, work-life balance, and peace of mind.Danielle explains why entrepreneurs think differently about money, why many invest almost everything back into their businesses, and how that mindset can create blind spots if not properly managed. She shares the “crystal ball” she’s developed over decades of advising business owners — the common pitfalls, emotional traps, and distractions that can derail long-term financial success — and how structure and simplicity help clients stay the course.The conversation also explores major life moments that don’t show up on a balance sheet: maternity leave as a financial event, building a career without a pension, raising a family while running a business, and why trust and listening matter just as much as returns. Danielle reflects on being one of the only women in her training class decades ago, and why wealth management today is becoming a far more human — and inclusive — profession.The Scotiabank Women Initiative is committed to helping women grow their businesses, advance their careers and invest in their futures, so they can succeed on their own terms. For more, visit https://scotiabank.com/women-initiative.Timestamps00:00 Show intro00:55 Managing wealth for business owners04:00 Educating clients on a holistic approach to wealth management05:30 The most common pitfalls07:00 When should business owners start?08:40 Where does maternity leave and flexibility fit in?11:00 It’s a fantastic industry for women SponsorsThe Scotiabank Women Initiative is committed to helping women grow their businesses, advance their careers and invest in their futures, so they can succeed on their own terms. For more check out: https://www.scotiabank.com/women-initiative/ca/en.htmlLinkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.SCOTIA WEALTH MANAGEMENT DISCLAIMER This publication has been prepared by The Bank of Nova Scotia for Scotia Wealth Management clients and may not be redistributed. It is for general information purposes only and should not be considered or relied upon as personal and/or specific financial, tax, pension, insurance, legal or investment advice. We are not tax or legal advisors and we recommend that individuals consult with their qualified advisors, including tax and legal advisors, before taking any action based upon the information contained in this publication. Opinions and projections contained in this publication are our own as of the date hereof and are subject to change without notice. Scotia Wealth Management is under no obligation to update this commentary and readers should assume the information contained herein will not be updated. While care and attention has been taken to ensure the accuracy and reliability of the material in this publication, neither The Bank of Nova Scotia nor any of its affiliates or any of their respective directors, officers or employees make any representations or warranties, express or implied, as to the accuracy or completeness of such material and disclaim any liability resulting from any direct or consequential loss arising from any use of this publication or the information contained herein. This commentary may contain forward-looking statements based on current expectations and projections about future general economic factors. Forward-looking statements are subject to inherent risks and uncertainties which may be unforeseeable and such expectations and projections may be incorrect in the future. Forward-looking statements are not guarantees of future performance and you should avoid placing undue reliance upon them. This publication and all the information, opinions and conclusions contained herein are protected by copyright. This publication may not be reproduced in whole or in part without the prior express consent of The Bank of Nova Scotia. ®Registered trademark of The Bank of Nova Scotia, used under licence. Scotia Wealth Management® consists of a range of financial services provided by The Bank of Nova Scotia (Scotiabank®); The Bank of Nova Scotia Trust Company (Scotiatrust®); Private Investment Counsel, a service of 1832 Asset Management L.P.; 1832 Asset Management U.S. Inc.; Scotia Wealth Insurance Services Inc.; and ScotiaMcLeod®, a division of Scotia Capital Inc. Private banking services are provided by The Bank of Nova Scotia. Estate and trust services are provided by The Bank of Nova Scotia Trust Company. Portfolio management is provided by 1832 Asset Management L.P. and 1832 Asset Management U.S. Inc. Insurance services are provided by Scotia Wealth Insurance Services Inc. Wealth advisory and brokerage services are provided by ScotiaMcLeod, a division of Scotia Capital Inc. International investment advisory services are provided by Scotia Capital Inc. Financial planning services are provided by The Bank of Nova Scotia and ScotiaMcLeod. Scotia Capital Inc. is a member of the Canadian Investor Protection Fund and is regulated by the Canadian Investment Regulatory Organization. Scotia Wealth Insurance Services Inc. is the insurance subsidiary of Scotia Capital Inc., a member of the Scotiabank group of companies. When discussing life insurance products, ScotiaMcLeod advisors are acting as Life Insurance Agents (Financial Security Advisors in Quebec) representing Scotia Wealth Insurance Services Inc.In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

We’re getting festive on this episode of In the Money with Amber Kanwar — and instead of our usual portfolio manager chat, Amber and executive producer Jillian Glickman take a step back to look at what really mattered this year: which stocks worked, which didn’t, and which fund managers actually delivered when it counted.After launching the podcast from scratch just a year ago, the team revisits the show’s biggest moments, from standout interviews and surprise headlines to the stocks and themes that defined the year. They break down the best and worst performers across the show, reveal which investing styles thrived in a volatile market, and take an honest look at where conviction paid off — and where it didn’t.The episode culminates in a special interview with In the Money with Amber Kanwar’s  best-performing fund manager of the year, Daniel Lewis of Orange Capital. Known for his contrarian, special-situations approach, Lewis explains why distressed and misunderstood businesses delivered some of the biggest returns, notably Better Home & Finance's +300% showing (BETR) — and shares two brand-new stock ideas he believes could be next.It’s part year-end report card, part behind-the-scenes reflection, and part forward-looking playbook — the perfect way to close out the year and set the stage for what’s next.Happy holidays from In the Money with Amber Kanwar — and thank you for being part of the journey.Timestamps00:00 Questrade’s new tools for investors. Use promo code INTHEMONEY01:50 Show intro04:35 Reflecting on the first year of In the Money with Amber Kanwar 07:35 Our first episode and how we knew people liked the show!10:10 Our first live show at the Calgary Stampede and breaking news with Strathcona’s Adam Waterous12:35 Amber’s interview with Prime Minister Mark Carney17:20 Thank you to our sponsors!18:45 The most number one recommended stock of the year: Tourmaline Oil (TOU)23:00 Equinox’s Ross Beaty calls the stock’s turnaround (EQX)27:00 2025’s worst performing stocks (DND, FISV)32:10 Commodities in 202537:35 The theme of the year: AI, and the winning stock: Alphabet (GOOG) 43:35 2025’s best performing stocks45:25: Best Performing Portfolio Manager of the Year looks back at his best pick and gives two new picks (BETR, ARX-N, WIX) SponsorsSign up for your first self-directed account at https://questrade.com. Get your $50 cash reward when you use the promo code: INTHEMONEY. Or open a QuestWealth Portfolios account and your first $10,000 will be managed for free for one year. Promo code: INTHEMONEY.  Join the Questrade Pro Waitlist: https://www.questrade.com/questrade-proFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.With tools like the ETF Compare Tool and Market Insights, you can easily identify ETFs that hold your favourite stocks, match your risk tolerance, and align with your investment goals. To explore these tools, head to www.bmoetfs.com and check out the Tools section.Pro Picks is brought to you by ATB Financial.  Visit https://ATB.com/inthemoney for more informationLinkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

Artificial intelligence has been hyped, doubted, celebrated, and questioned — but very few people understand it from the inside out.On this episode of In the Money with Amber Kanwar, Amber sits down with Malcolm White, Portfolio Manager, BMO Global Asset Management, to cut through the noise around the AI boom and explain what’s actually happening beneath the headlines. From the launch of ChatGPT to today’s trillion-dollar AI infrastructure buildout, Malcolm breaks down why this moment is fundamentally different — and why many investors still don’t fully grasp the technology driving it.Drawing on his experience as both a former AI programmer and portfolio manager, Malcolm explains why AI adoption is moving faster than anything he’s seen before, how skepticism around valuations, capex, and so-called “AI bubbles” often misses the mark, and why physical constraints — power, data centers, and compute — matter just as much as software. He offers a rare behind-the-scenes look at how AI models are trained, why data is the new gold, and what investors get wrong about chips, depreciation, and commoditization.In the Mailbag, Malcolm weighs in on some of the most talked-about names in the AI ecosystem, including Broadcom (AVGO), Reddit (RDDT), SanDisk (SNDK), Western Digital (WDC), and Celestica (CLS). He explains why volatility is rising even as the AI capex cycle remains intact, how investors should think about pullbacks versus broken theses, and why certain “boring” infrastructure plays are quietly benefiting from massive shifts in data, memory, and storage demand.In Pro Picks, Malcolm lays out three high-conviction ideas tied to different stages of the AI and innovation cycle. He explains why Nvidia's (NVDA) fundamentals continue to be misunderstood despite its dominant position, why memory and semiconductors remain critical bottlenecks, and why Samsung Electronics (005930.KS) offers an underappreciated catch-up opportunity. He also looks further out to the next frontier with a deep dive into quantum computing, including why pre-IPO Xanadu Quantum Technologies stands out — and why investors should treat the space with both curiosity and caution.Timestamps00:00 Questrade’s new tools for investors. Use promo code INTHEMONEY01:50 Show intro03:55 Malcolm is a portfolio manager & AI programmer08:15 An inside view into the pace at which AI has evolved13:50 The Deepseek moment17:00 The Fury of Burry - what Michael Burry is Missing 23:50 What about the circular deals?26:30 Why Malcolm thinks Anthropic will be the first IPO & what comes next29:40 The Oracle question32:45 How transformative will AI be? 36:00 ITM Mailbag: Broadcom stock (AVGO) 39:10 Reddit stock (RDDT)40:00 Sandisk stock (SNDK) 43:15 Western Digital stock (WDC)45:00 Celestica stock (CLS)48:25 Malcolm’s Pro Picks (NVDA, Samsung, Xanadu Quantum) 59:20 ETF Minute: HAMILTON CHAMPIONS™ Canadian Dividend Index ETF, HAMILTON CHAMPIONS™ EnhancedCanadian Dividend ETFSponsorsSign up for your first self-directed account at https://questrade.com. Get your $50 cash reward when you use the promo code: INTHEMONEY. Or open a QuestWealth Portfolios account and your first $10,000 will be managed for free for one year. Promo code: INTHEMONEY.  Join the Questrade Pro Waitlist: https://www.questrade.com/questrade-proFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.With tools like the ETF Compare Tool and Market Insights, you can easily identify ETFs that hold your favourite stocks, match your risk tolerance, and align with your investment goals. To explore these tools, head to www.bmoetfs.com and check out the Tools section.Pro Picks is brought to you by ATB Financial. Visit https://ATB.com/inthemoney for more informationETF Minute is brought to you by Hamilton ETFs. To learn more about the HAMILTON CHAMPIONS™ Canadian Dividend Index ETF and the HAMILTON CHAMPIONS™ Enhanced Canadian Dividend ETF, visit https://hamiltonetfs.com.Linkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

Long term investing sounds simple until the market throws fear, noise, bubbles, tariffs, and headlines at you. On this episode of In the Money with Amber Kanwar, Amber sits down with Winnie Go, Senior Wealth Advisor & Portfolio Manager with Scotia Wealth Management, for a grounded, battle-tested conversation shaped by her 30 years in the markets.Winnie breaks down why high-quality companies, discipline, and diversification—not hype—are what actually build wealth over decades. She explains how she navigated the fear of 2008, what today’s bubble chatter gets wrong, why tech and gold can rally together in this strange new market, and why selling too early is one of the most common investor mistakes.They dig into what’s working now: earnings growth, overlooked sectors like healthcare, the steady strength of Canadian dividends, and why “boring” names in financials and utilities often win the long game. She also shares what she avoids completely and how investor behavior has shifted—especially for women—over the course of her career.The Scotiabank Women Initiative is committed to helping women grow their businesses, advance their careers and invest in their futures, so they can succeed on their own terms. For more information check out: https://www.scotiabank.com/women-initiative/ca/en.htmlTimestamps00:00 Show intro01:00 Winnie’s investment philosophy02:30 Why you need to stay tried and true03:30 It’s always something, stay invested 05:30 What did Winnie learn from the GFC?06:30 What about bubbles?07:30 Tech rallying alongside gold 08:30 Tech & diversification10:00 Canada vs. U.S.11:50 Earnings growth & dividend increases12:20 What does Winnie like right now?13:35 What is Winnie avoiding?14:20 The importance of bringing women into the conversation SponsorsThe Scotiabank Women Initiative is committed to helping women grow their businesses, advance their careers and invest in their futures, so they can succeed on their own terms. For more check out: https://www.scotiabank.com/women-initiative/ca/en.htmlLinkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.SCOTIA WEALTH MANAGEMENT DISCLAIMER This publication has been prepared by The Bank of Nova Scotia for Scotia Wealth Management clients and may not be redistributed. It is for general information purposes only and should not be considered or relied upon as personal and/or specific financial, tax, pension, insurance, legal or investment advice. We are not tax or legal advisors and we recommend that individuals consult with their qualified advisors, including tax and legal advisors, before taking any action based upon the information contained in this publication. Opinions and projections contained in this publication are our own as of the date hereof and are subject to change without notice. Scotia Wealth Management is under no obligation to update this commentary and readers should assume the information contained herein will not be updated. While care and attention has been taken to ensure the accuracy and reliability of the material in this publication, neither The Bank of Nova Scotia nor any of its affiliates or any of their respective directors, officers or employees make any representations or warranties, express or implied, as to the accuracy or completeness of such material and disclaim any liability resulting from any direct or consequential loss arising from any use of this publication or the information contained herein. This commentary may contain forward-looking statements based on current expectations and projections about future general economic factors. Forward-looking statements are subject to inherent risks and uncertainties which may be unforeseeable and such expectations and projections may be incorrect in the future. Forward-looking statements are not guarantees of future performance and you should avoid placing undue reliance upon them. This publication and all the information, opinions and conclusions contained herein are protected by copyright. This publication may not be reproduced in whole or in part without the prior express consent of The Bank of Nova Scotia. ®Registered trademark of The Bank of Nova Scotia, used under licence. Scotia Wealth Management® consists of a range of financial services provided by The Bank of Nova Scotia (Scotiabank®); The Bank of Nova Scotia Trust Company (Scotiatrust®); Private Investment Counsel, a service of 1832 Asset Management L.P.; 1832 Asset Management U.S. Inc.; Scotia Wealth Insurance Services Inc.; and ScotiaMcLeod®, a division of Scotia Capital Inc. Private banking services are provided by The Bank of Nova Scotia. Estate and trust services are provided by The Bank of Nova Scotia Trust Company. Portfolio management is provided by 1832 Asset Management L.P. and 1832 Asset Management U.S. Inc. Insurance services are provided by Scotia Wealth Insurance Services Inc. Wealth advisory and brokerage services are provided by ScotiaMcLeod, a division of Scotia Capital Inc. International investment advisory services are provided by Scotia Capital Inc. Financial planning services are provided by The Bank of Nova Scotia and ScotiaMcLeod. Scotia Capital Inc. is a member of the Canadian Investor Protection Fund and is regulated by the Canadian Investment Regulatory Organization. Scotia Wealth Insurance Services Inc. is the insurance subsidiary of Scotia Capital Inc., a member of the Scotiabank group of companies. When discussing life insurance products, ScotiaMcLeod advisors are acting as Life Insurance Agents (Financial Security Advisors in Quebec) representing Scotia Wealth Insurance Services Inc.In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

What if the next big bull market isn’t in tech or AI stocks — but in commodities?On this episode of In the Money with Amber Kanwar, Amber sits down with Hussein Allidina, Head of Commodities at TD Asset Management, for one of the most comprehensive conversations about commodities after an explosive year. Hussein argues that we’re still in the early stages of a multi-year commodity upcycle, driven by chronic underinvestment, rising global demand, and a world that needs far more energy, metals and power infrastructure than we’re currently capable of producing. He explains why commodities zig when everything else zags, how they deliver real inflation protection, and why a 5–10% allocation may be the most overlooked tool in modern portfolio construction.From why oil may first trade down into the $40 range before setting up for a powerful rebound, to why natural gas could become the quiet backbone of AI, Hussein delivers a masterclass in understanding cycles, supply constraints, and how capital is flowing into the wrong parts of the system. And yes — we get into gold. Why it’s not an inflation hedge, why central banks can’t stop buying it, and why he believes “we see $5,000/oz before we see $2,000/oz.” Amber and Hussein also explore the long cycles in the U.S. dollar, the rise in military and infrastructure spending, and how electrification and data centres will reshape global commodity demand over the next decade.In Pro Picks, Hussein lays out three clear calls: a tactical short in soybeans as speculative flows unwind, a strategic long oil position over the next 6–12 months as inventories tighten and spare capacity shrinks, and a long-term bullish view on copper over the next five to seven years driven by some of the strongest structural demand forces in the market. It’s a roadmap for anyone trying to navigate commodities with a professional lens.If you’ve ever wondered how to think about commodities like a pro — or whether now is the moment to finally add them to your portfolio — this episode is for you.Timestamps00:00 Questrade’s new tools for investors. Use promo code INTHEMONEY01:15 Show intro03:25 The role of commodities in a portfolio07:15 What’s a responsible allocation to commodities?10:00 Understanding how commodity cycles work14:30 What’s going on with oil? 19:10 Expectations for natural gas23:00 What if the return from AI doesn’t materialize?25:00 The path for Copper27:20 The generalist attitude toward commodities right now29:30 Gold’s record year- what happens next?36:45 Silver’s big surge 39:20 TD Alternative Commodities Pool Fund40:40 The relationship between rates & commodities 43:10 Understanding the supply & demand picture, bigger themes & defence spending46:45 Hussein’s Pro Picks (short soy beans, long oil, longer term copper) SponsorsSign up for your first self-directed account at https://questrade.com. Get your $50 cash reward when you use the promo code: INTHEMONEY. Or open a QuestWealth Portfolios account and your first $10,000 will be managed for free for one year. Promo code: INTHEMONEY.  For over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.With tools like the ETF Compare Tool and Market Insights, you can easily identify ETFs that hold your favourite stocks, match your risk tolerance, and align with your investment goals. To explore these tools, head to www.bmoetfs.com and check out the Tools section.Pro Picks is brought to you by ATB Financial.  Visit https://ATB.com/inthemoney for more informationLinkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews