Episode Details

In this special episode, we unpack what a Mark Carney-led Liberal minority means for Canadian investors — from markets and monetary policy to energy and geopolitical strategy.

First, Frances Horodelski kicks off with a sharp overview of how the political shift is landing with Bay Street and what the new government signals for confidence and capital markets.

Then, Jim Thorne of Wellington-Altus dives deep into the global economic context — including structural shifts, U.S. relations, and Canada's place in a rapidly changing world. He explores what investors should watch for in policy, growth sectors, and geopolitical risk.

Finally, oil and gas investor Eric Nuttall doesn’t hold back. He shares his unfiltered views on the energy sector under Carney, the fading relevance of net-zero rhetoric, and why Canadian resource stocks could thrive — or suffer — depending on what happens next in Ottawa.

Whether you're managing your portfolio or just trying to make sense of the headlines, this episode delivers key insights you won't want to miss.

 Subscribe for more sharp takes on markets, politics, and your money.

Timestamps
00:00 Show Intro 
02:00 Amber welcomes Frances Horodelski 

05:50 What does Mark Carney mean for U.S.-Canada relations 
07:50 Why does Frances likes the Canadian market right now + her expectations for the Loonie 
11:20 Why Frances doesn’t have conviction right now and what is the turning point? 
16:05 Break: Amber speaks to the CEO of Raymond James Canada about the company’s deep Canadian roots 
17:50 Amber welcomes Jim Thorne and he tells us why he believes Mark Carney is the right guy for the job, but liberal policies have to change  
21:30 Can Canada become a hard power in energy and natural resources? 
23:00 How is Jim viewing U.S.-Canada relations as someone who has spent a number of years working in the U.S. 

26:00 What does a change in the global world order and U.S.-Canada ties look like 5 years from now? 
31:30 Jim’s thoughts on what Prime Minister Carney might be willing to give up to President Trump 
33:30 Jim’s thoughts on Canadian & U.S. banks 
39:20 Did Jim’s investing view change on the back of the election?  

42:15 Amber welcomes energy investor Eric Nuttall and asks how he’s feeling about the election outcome 

44:00 Why so much in the energy space is to be determined 

46:30 How will Nuttall’s concern about Mark Carney show up in his investments 
49:10 Why Eric is still bullish on energy, specifically natural gas, but reducing oil exposure  
55:10 Eric’s thoughts on Trump’s ‘drill baby drill’ 
57:00 What happens with production in Canada? 
58:35 What does the risk of an emissions cap mean for energy stocks? 
1:00:00 What does Eric think about highly recommended stock Canadian Natural Resources (CNQ.TO)? 
1:02:10 Eric’s Past Picks and new Pro Picks 

Sponsors

​​This episode is sponsored by BMO InvestorLine. Open a new BMO InvestorLine account, and you could receive up to $3,500 cash back. It’s a great way to jumpstart your investment plan. Learn more at https://bmo.com/onlineinvesting?ecid=pr-2886232INV1-JNBMO16

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.

Pro Picks is brought to you by ATB Financial. Visit https://ATB.com/inthemoney for more information

Links

https://inthemoneypod.com/ 

https://instagram.com/inthemoneypod

https://facebook.com/profile.php?id=61569721774740