Episode Details

Are U.S. stocks too expensive? Not necessarily, says Stan Wong. In this episode of In the Money with Amber Kanwar, he explains how the S&P 500’s valuation is skewed by tech, and why sectors like healthcare, industrials, and financials still offer compelling opportunities for selective investors.

Stan and Amber break down the TSX’s recent surge, driven by gold and financials, and debate whether Canada’s market strength is here to stay. Despite the headlines, Stan remains overweight U.S. equities, citing broader market depth and stronger fundamentals heading into mid-2025. He also shares how he handles market dips, the sentiment indicators he watches, and why long-term fundamentals matter more than short-term swings.

Answering viewer questions, Stan discusses names like Couche-Tard (ATD.TO), Uber (UBER), Shopify (SHOP), and United Health (UNH) — outlining where he’s invested, what he’s avoiding, and which stocks he’s recently sold. His stock selection strategy centers on companies with strong earnings growth and limited competition.

Stan’s top picks might surprise you- all three are sitting near all-time highs, but Stan still sees room for meaningful gains ahead. They include, Dollarama (DOL.TO), a dominant Canadian retailer with strong private label margins and little competition; MercadoLibre (MELI), the fintech and e-commerce leader of Latin America; and Netflix (NFLX), where he sees upside in ad-supported tiers, international growth, and unmatched pricing power. 

Insightful and grounded, this episode is a must-watch for investors seeking clarity and conviction in today’s markets.

Timestamps

00:00 Show intro
01:35 Amber speaks to Erin Allen of BMO Global Asset Management to discuss the ETF space
05:25 Amber welcomes Stan Wong and asks if he’s ready to put tariff anxieties to bed
07:00 What did Stan do during April’s volatility?
08:45 Is the Canadian market more attractive to Stan or does he still favour the U.S.?
10:30 How is Stan thinking about U.S. valuations?
11:30 Stan’s view on the bond market
14:15 Stan’s thoughts on Nvidia and why he holds it
15:30 ITM Mailbag: Does Stan think Couche-Tard (ATB.TO) is a buy and hold?
16:55 Stan’s thoughts on Brookfield Infrastructure Partners (BIP.A.TO)
18:40 Does Stan like Shopify (SHOP.TO)?

20:40 Why Stan sold Costco (COST.NASDAQ) recently 

24:15 Stan’s thoughts on Uber (UBER.NYSE)

27:25 What does Stan think about Canadian Tire (CTC.A.TO)?
29:35 Why Stan sold United Health before its big drop (UNH.NYSE)?
33:20 What does sports fan Stan think about the Raptor’s chances next year?
34:20 Stan Wong’s 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 bmo.com/onlineinvesting?ecid=pr-2886232INV1-JNBMO16

For over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit raymondjames.ca today to discover how you can live a life well planned.

Pro Picks is brought to you by ATB Financial. With $62 billion in assets, ATB Financial is powering possibilities for more than 820,000 financial services clients in Alberta and beyond. Visit ATB.com/inthemoney for more information.

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