The Wealth Round Up

Did Alberta’s Referendum Impact Canadian Investments? How High Can Interest Rates Go Before Markets Adjust to Higher Cost of Borrowing? – Oct 23, 2026

Fri, 23 Oct 2026 04:00:00 -0000

Oil prices, Alberta's referendum, rising interest rates, and consumer spending take centre stage in Episode 62's Wealth Roundup.
Terry Evans and Patrick Leonard of the Leonard Wealth Advisory Group at BMO Nesbitt Burns examine the narrowing price gap for Western Canadian Select crude and why it's welcome news for Alberta's energy sector and Canadian investors.
They also discuss the investment implications of Alberta's referendum results, renewed strength in the Canadian dollar, and growing expectations that the Bank of Canada could raise interest rates.
With corporate earnings looking strong, Patrick explains why consumer affordability remains a concern, particularly as borrowing costs climb. Plus, what can U.S. bank earnings tell us about consumer financial health, and are mortgage rates approaching levels that could threaten economic growth?
Get Patrick's insights on the market forces shaping investment decisions and what investors should watch in the weeks ahead.
Key Topics
Market performance and seasonality of the S&P 500 and TSX
Impact of the Alberta referendum on Canadian investments
Oil prices and their effect on Canadian oil and gas stocks
Interest rate movements and mortgage costs in the US and Canada
Consumer spending and earnings season outlook in 2026
takeaways
Western Canadian select closing the gap at $86 is significant for Canadian oil producers
The Alberta referendum reduced uncertainty, strengthening the Canadian dollar
The Bank of Canada is more likely to raise rates to combat inflation, now closer to a 90% probability
US bank earnings show strong consumer credit quality but concern grows for lower-income groups
US mortgage rates are around 6-7%, influencing household spending and real estate
Chapters
00:00 - Market overview and recent performance
02:16 - Oil prices and Canadian oil sector update
03:21 - Impact of the Alberta referendum on markets
04:45 - Bank of Canada rate hike expectations
05:37 - Earnings season and consumer spending outlook
07:03 - US consumer credit quality and economic health
08:37 - Interest rates and mortgage impacts in the US and Canada
10:18 - US real estate and consumer spending signals
www.patrickmleonard.com
www.reluctantlypodcast.com
@reluctantlypodcast @ZoneOnePodcast @networkofgivingpodcast @TheAlbertaGolfPodcast @DistilleryDiscovery
#markettrends #Albertareferendum #interestrates #Canadianeconomy #UShousing #investmentstrategies

Navigating Market Volatility and Staying Disciplined Through the Ups and Downs - Oct 16, 2026

Fri, 16 Oct 2026 04:00:00 -0000

Are changing market conditions putting your investments at risk? In Episode 61, Terry Evans and Patrick Leonard of the Leonard Wealth Advisory Group at BMO Nesbitt Burns examine market volatility, rising oil prices, inflation concerns, and Canada's troubling employment numbers.
Discover how higher diesel prices are impacting Alberta's economy, why upcoming corporate earnings could shape investor confidence, and how political advertising influences market sentiment.
Patrick also shares practical strategies for protecting your portfolio without abandoning long-term investment goals. From rebalancing your investments and tax-loss selling to managing interest-rate-sensitive stocks and bonds, this episode offers valuable insights for navigating uncertain markets.
Plus, a look at artificial intelligence, technology stocks, and why focusing on financial fundamentals rather than headlines can help investors make smarter decisions.
Key Topics
Market performance and outlook for 2024
Impact of inflation and rising interest rates
Role of US primaries and political spending on markets
Strategies for staying invested and protecting portfolios
Importance of focusing on fundamentals over sentiment
Takeaways
Market sentiment remains cautious despite stable fundamentals.
Rising diesel prices impact local oil refineries and regional economy.
Focus on asset allocation and rebalancing to stay within investment goals.
Interest rate increases affect growth stocks and long-term bonds.
Market pullbacks are normal; long-term investing requires resilience.
Chapters
00:00 - Market overview and recent performance
01:50 - Impact of oil prices and diesel shortages
03:50 - Current market sentiment and earnings season
05:40 - US job report and economic indicators
06:58 - Media influence and political spending on markets
07:58 - Strategies for staying invested and portfolio protection
09:58 - Interest rates, growth stocks, and market fundamentals
11:43 - The role of company fundamentals and market sentiment
www.patrickmleonard.com
www.reluctantlypodcast.com
@reluctantlypodcast @ZoneOnePodcast @networkofgivingpodcast @TheAlbertaGolfPodcast @DistilleryDiscovery
#marketupdate #investing #inflation #interestrates #economicoutlook #portfolioprotection

Current Interest Rates in North America and What They Mean for Households and Investors? – Oct 9, 2026

Fri, 09 Oct 2026 04:00:00 -0000

In Episode 60 of The Wealth Roundup, Terry Evans and Patrick Leonard of Leonard Wealth Advisory Group take a look at the markets as October gets underway. After recent volatility, equities are showing signs of recovery, while oil prices have pulled back and the gap between West Texas Intermediate and Western Canadian Select remains an important story for Canadian energy producers.
Patrick also examines the outlook for Canadian and U.S. interest rates, rising mortgage costs, and why the structure of American mortgages may be helping U.S. consumers remain resilient.
Looking toward 2027, Terry and Patrick discuss commodities, energy, the changing yield curve, banks, and two sectors that continue to attract attention: artificial intelligence and defense. Plus, why the Canadian economy may be holding up better than expected as investors navigate the final months of 2026.
Key Topics
Market volatility and recent market recovery
Interest rate movements in Canada and the US
Energy sector dynamics and oil prices
Canadian and US economic outlook
Predictions and key sectors for 2027
Takeaways
Market volatility is normal and driven by buyer and seller behavior.
Canadian interest rates are currently below neutral, with potential increases in 2027.
US homeowners are less affected by rising interest rates due to long-term mortgages.
Energy prices are influenced by geopolitical factors and refinery maintenance.
AI and defense sectors are expected to be key drivers in 2027.
Chapters
00:00 - Introduction to Market Trends and Wealth Management
01:55 - Oil Prices, Strait of Hormuz, and Energy Sector Insights
02:51 - Canadian Energy Sector and Western Canadian Select Discount
03:46 - Gold, Bitcoin, and Currency Movements
04:45 - Interest Rates in Canada and Their Impact on Mortgages
05:26 - US Interest Rates and the Housing Market
08:00 - Comparison of Canadian and US Mortgage Systems
09:43 - US Consumer Resilience and Interest Rate Effects
11:50 - Market Valuations, Midterm Elections, and Investor Caution
12:56 - Predictions for 2027: Energy, Commodities, and Interest Rates
www.patrickmleonard.com
www.reluctantlypodcast.com
@reluctantlypodcast @ZoneOnePodcast @networkofgivingpodcast @TheAlbertaGolfPodcast @DistilleryDiscovery
#markettrends #interestrates #energysector #Canadianeconomy #USeconomy #investmentstrategies #2027forecast

Special Guests Sean Taylor and So Jung Park from Matthews International Capital Management - The Picks and Shovels of Growth, Innovation, and Opportunities in Asian Markets - Oct 2, 2026

Fri, 02 Oct 2026 04:00:00 -0000

In Episode 59 of The Wealth Roundup, Terry and Patrick Leonard of the Leonard Wealth Advisory Group at BMO Nesbitt Burns welcome from London Sean Taylor, Chief Investment Officer and Portfolio Manager at Matthews, and from San Francisco Portfolio Manager So Jung Park for a deep dive into investing in Asia. These two guests are dynamite!
The conversation explores the BMO Asian Growth and Income Fund and the opportunities Canadian investors may be overlooking across Asian markets. Sean and So Jung discuss Asia’s growing role in technology and semiconductor manufacturing, the global reindustrialization trend, improving corporate governance, and the potential for stronger shareholder returns.
They also explain how the fund balances capital growth with income through growth companies, dividend-paying stocks, dividend compounders and companies improving their shareholder-return policies. The discussion highlights South Korea’s technology, industrial and shipbuilding strengths while examining how shifting global trade patterns are creating new opportunities throughout Asia.
Plus, Patrick provides his latest perspective on Canadian and U.S. markets.
Key Topics
Asian market growth drivers
Corporate governance reforms in Asia
Tech and reindustrialization opportunities
Diversification benefits of Asian funds
Long-term investment themes in Asia
Chapters
00:00 - Introduction to Asian Market Opportunities
01:54 - Overview of the BMO Asian Growth and Income Fund
04:06 - Matthews Asia's Investment Approach and Expertise
05:46 - Key Long-Term Growth Drivers in Asia
08:11 - Opportunities in Tech and Reindustrialization
09:55 - Corporate Governance Improvements in Asia
12:08 - Balancing Growth and Income in Portfolio
14:48 - Long-Term Investment Themes in Asia
17:01 - Focus on South Korea and Other Markets
19:02 - Impact of Global Trade Dynamics
21:00 - Closing Remarks and Future Outlook
www.patrickmleonard.com
www.reluctantlypodcast.com
@reluctantlypodcast @ZoneOnePodcast @networkofgivingpodcast @TheAlbertaGolfPodcast @DistilleryDiscovery
#Asianmarkets #investmentstrategies #growthandincome #corporategovernance #diversification #Asiatech #reindustrialization
[1:17 PM]Matthews International Capital Management, LLC, and Matthews Asia Funds, are independent of BMO Investments Inc., and its affiliates, and has no editorial control over the content, subject matter and timing of this posting.

A New Era for Business Investment? Risks & Opportunities for Edmonton Industry, And the Road to Year-End – Sep 25, 2026

Fri, 25 Sep 2026 04:00:00 -0000

Markets are heading into the final stretch of 2026 with plenty for investors to watch. This week, Terry sits down with Patrick Leonard of the Leonard Wealth Advisory Group at BMO Nesbitt Burns to break down what’s moving the markets and what could shape the final quarter of the year.
Patrick looks at the widening gap between West Texas Intermediate and Western Canadian Select oil prices and why it matters to Alberta’s energy economy. They also unpack Canada’s new “productivity mega deduction,” designed to encourage businesses to invest in everything from technology and R&D to pipelines, aircraft and infrastructure.
Plus, they discuss potential investment headwinds including AI regulation, higher borrowing costs and increasingly difficult earnings comparisons, before finishing with some of the opportunities and positive signals investors can watch as 2026 draws to a close.
Key Topics
Market volatility and recent rally in tech stocks
Oil price movements and Western Canadian Select spread
Impact of Canadian investment mega deduction on business
Market expectations for earnings growth and corrections
US interest rate hikes and inflation management
Opportunities in Canadian commodities and exports
Takeaways
The US market is currently flat after a rally in tech stocks.
Western Canadian oil prices are affected by demand and transportation issues.
Canada's new investment deduction can be written off in the current year, boosting business investment.
Higher earnings expectations can lead to market corrections if growth stalls.
Interest rate hikes are largely priced in, and the market remains optimistic.
Canadian commodity prices remain elevated, supporting the economy.
Chapters
00:00Market overview and recent volatility
01:02Oil prices and Western Canadian Select spread
02:29Gold, Bitcoin, and market movements
03:3Canada's enhanced investment deductions
06:1Investment challenges as 2026 ends
07:05AI regulation and interest rate outlook
08:32Earnings growth and market corrections
10:53Positive investment outlook for year-end
www.patrickmleonard.com
www.reluctantlypodcast.com
@reluctantlypodcast @ZoneOnePodcast @networkofgivingpodcast @TheAlbertaGolfPodcast @DistilleryDiscovery
#wealthmanagement #investment #Canadianmarket #oilprices #gold #Bitcoin #investmentdeductions #marketoutlook

Inflation Fears, AI Growth, and Canada's Investment Moment – Sep 18, 2026

Fri, 18 Sep 2026 04:00:00 -0000

In Episode 57 of the Wealth Roundup, Terry and Patrick Leonard of Leonard Wealth Advisory Group break down a busy week for investors. Markets are showing some weakness, with the S&P 500 and TSX pulling back, while oil prices move higher amid geopolitical pressures.
The conversation turns to the Canada Investment Summit and the push to attract major global investment, accelerate infrastructure and resource projects, reduce interprovincial trade barriers, boost technology development, and improve Canadian productivity.
Patrick also examines inflation, the possibility of another U.S. interest-rate increase, and what higher rates could mean for stocks and bonds. Finally, Terry and Patrick dive into growing concerns surrounding AI safety and regulation—and why Alberta’s power grid could become an important factor in the massive buildout of AI data centres.
Key Topics
Market climate and investor behavior
Canada's natural resources and investment strategy
US Federal Reserve interest rate decisions
AI safety concerns and regulatory landscape
Energy infrastructure and AI build-out in Alberta
takeaways
Market weakness was anticipated due to inflation concerns and midterm elections.
Canada is actively implementing a plan to attract investment and improve productivity.
US interest rates are likely to rise due to inflation, impacting growth stocks and bonds.
AI safety concerns are gaining attention, with major players calling for regulation.
Energy capacity in Alberta may limit AI infrastructure expansion, creating natural checks.
Chapters
00:00Introduction to Market and Investment Climate
01:47Market Performance and Key Indicators
03:28Canada Investment Summit Goals and Strategies
05:54Canada's Natural Resources and Productivity Goals
07:00US Interest Rate Outlook and Inflation Impact
08:48AI Safety Concerns and Industry Response
11:00AI Build-Out in Edmonton and Energy Challenges
www.patrickmleonard.com
www.reluctantlypodcast.com
@reluctantlypodcast @ZoneOnePodcast @networkofgivingpodcast @TheAlbertaGolfPodcast @DistilleryDiscovery
#market #trends #Canadainvestment #USinterestrates #AIsafety #economicoutlook #oilprices #inflation #wealthmanagement

Strong Markets, Smart Withdrawals: How to Access Your Portfolio Without Disrupting your Strategy? - Sep 11, 2026

Fri, 11 Sep 2026 04:00:00 -0000

This week, Terry sits down with Patrick Leonard of the Leonard Wealth Advisory Group, BMO Nesbitt Burns, for a timely look at where markets stand heading into fall 2026. With the TSX up 14% year-to-date and 24% year-over-year, Patrick unpacks why this week may bring softer equity performance, from renewed tensions affecting oil prices to the closely watched US inflation report ahead of next week's Federal Reserve rate decision.
The conversation turns to interest rates and their ripple effects across asset classes — from GIC deposits to bond duration strategy to growth-heavy indices like the NASDAQ. Patrick also shares his approach to helping clients withdraw funds strategically, whether for retirement, real estate, or business needs, while preserving their long-term portfolio allocation.
For wealth management with a fresh perspective, visit www.patrickmleonard.com.
Key Topics
Market performance in 2026
Impact of US inflation report and Federal Reserve decisions
Interest rates and their effect on different asset classes
Strategies for withdrawing from portfolios without disrupting asset allocation
The influence of interest rates on growth and cyclical stocks
Takeaways
Markets have been strong in 2026, with year-to-date gains of 14% on the TSX.
Interest rate increases tend to negatively impact growth stocks, especially in technology.
Bond prices decline when interest rates rise, but holding bonds to maturity ensures expected returns.
Proactive communication with financial advisors helps maintain desired asset allocation during withdrawals.
Economic indicators like US inflation reports are crucial for market outlooks.
Chapters
00:00 - Market performance in 2026 and outlook
01:49 - Impact of US inflation and Federal Reserve decisions
04:08 - How interest rates affect different asset classes
07:45 - Strategies for portfolio withdrawals and asset allocation
12:07 - Managing investments amid economic shifts
www.patrickmleonard.com
www.reluctantlypodcast.com
@reluctantlypodcast @ZoneOnePodcast @networkofgivingpodcast @TheAlbertaGolfPodcast @DistilleryDiscovery
#markets #interestrates #investmentstrategies #portfoliomanagement #economicoutlook

Special Guest Aubrey Hearn Portfolio Manager CI Global Asset Management - Could Small Cap Companies be the Next Potential Opportunity? - Sep 04, 2026

Fri, 04 Sep 2026 04:00:00 -0000

This week on The Wealth Roundup, Terry Evans and Patrick Leonard open with a market recap: Then, a special guest joins from Toronto: Aubrey Hearn, Senior Vice President and Portfolio Manager at CI Global Asset Management, who leads the firm's U.S. and small-cap equity teams. Aubrey breaks down the difference between mutual funds, ETFs, and private equity strategies, and makes the case for why small and mid-cap stocks — despite their volatility — may offer some of the most compelling value in today's market. He explains how his team hunts for companies with durable competitive advantages, strong reinvestment discipline, and room to grow, and why small caps are trading at a rare historical discount to their large-cap counterparts.
Key Topics
Stock selection process and characteristics of successful companies
Differences between mutual funds, ETFs, and private equity strategies
Characteristics of small and mid-cap companies and their growth potential
Market volatility and opportunities in small caps
Fundamental analysis and financial metrics for investing
Private equity strategies and their advantages and disadvantages
Characteristics of companies with wide economic moats and pricing power
Psychological aspects of investing in small vs large stocks
Chapters
00:00 - Introduction and Market Recap
02:29 - Guest Introduction: Aubrey Hearn and his role
06:17 - Differences Between Mutual Funds, ETFs, and Private Equity
09:41 - Private Equity Strategies and Liquidity
10:42 - Prospecting for Investment Opportunities
12:29 - Characteristics of Successful Small and Mid Cap Companies
14:10 - Valuation and Growth Potential of Small Caps
15:09 - Psychological Aspects of Stock Prices and Growth
16:45 - Opportunities in Small and Mid Cap Markets
17:36 - Closing Remarks and Future Outlook
www.patrickmleonard.com
www.reluctantlypodcast.com
@reluctantlypodcast @ZoneOnePodcast @networkofgivingpodcast @TheAlbertaGolfPodcast @DistilleryDiscovery
This podcast is provided as a general source of information and should not be considered personal, legal, accounting, tax or investment advice, or construed as an endorsement or recommendation of any entity or security discussed. Investors should seek the advice of professionals prior to implementing any changes to their investment.
The opinions expressed in the communication are solely those of the author(s) and are not to be used or construed as investment advice or as an endorsement or recommendation of any entity or security discussed.
Commissions, trailing commissions, management fees and expenses all may be associated with an investment in mutual funds and exchange-traded funds (ETFs). Please read the prospectus before investing. Important information about mutual funds and ETFs is contained in their respective prospectus. Mutual funds and ETFs are not guaranteed; their values change frequently, and past performance may not be repeated. You will usually pay brokerage fees to your dealer if you purchase or sell units of an ETF on recognized Canadian exchanges. If the units are purchased or sold on these Canadian exchanges, investors may pay more than the current net asset value when buying units of the ETF and may receive less than the current net asset value when selling them.
The statements contained herein that are not historical facts are forward-looking statements (FLS), based on current expectations and estimates about particular markets. These FLS are not guarantees of future performance and involve certain risks, uncertainties, and assumptions which are difficult to predict. Therefore, actual outcomes and returns may differ materially from what is expressed in such FLS. These FLS reflect the beliefs and assumptions of CI Global Asset Management and its portfolio managers at the time of publication. Neither CI Global Asset Management nor its portfolio managers undertake any obligation to update these statements except as required by law and accept no responsibility or liability for outcomes that differ from those expressed or implied in the FLS.
Certain statements contained in this podcast are based in whole or in part on information provided by third parties and CI Global Asset Management has taken reasonable steps to ensure their accuracy. Market conditions may change which may impact the information contained in this podcast.
Certain names, words, titles, phrases, logos, icons, graphics, or designs in this document may constitute trade names, registered or unregistered trademarks or service marks of CI Investments Inc., its subsidiaries, or affiliates, used with permission. All other marks are the property of their respective owners and are used with permission.
CI Global Asset Management is a registered business name of CI Investments Inc.

Tariffs are Back, Why Infrastructure, Healthcare & Small Caps Deserve Attention?- Aug 28, 2026

Fri, 28 Aug 2026 04:00:00 -0000

This Week on The Wealth Roundup
In this episode of *The Wealth Roundup*, Terry is joined by Patrick Leonard of the Leonard Wealth Advisory Group at BMO Nesbitt Burns to break down another eventful week in the markets. They discuss Canada-U.S. tariff tensions, their potential impact on inflation, and what escalating trade disputes could mean for investors.
Patrick also explains why the bond market suddenly matters, as U.S. federal debt reaches $40 trillion and long-term Treasury yields climb. The conversation explores how higher borrowing costs can ripple through the economy and why gold and Bitcoin have recently gained attention.
Finally, they look beyond big U.S. tech and Canadian energy stocks to potential opportunities in infrastructure, commodities, healthcare, and small- and mid-cap companies—and preview next week’s special guest, Aubrey Hearn from CI Investments.
Key Topics
Impact of US and Canadian tariffs on markets
US federal debt crossing $40 trillion
Bond market dynamics and interest rate implications
Stock market performance and sector analysis
Gold and Bitcoin as inflation hedges
Opportunities in infrastructure, healthcare, and small/mid-cap stocks
Takeaways
Tariffs are inflationary and can impact consumer prices.
US debt surpassing $40 trillion influences bond yields.
Higher interest rates increase borrowing costs and inflation.
Gold and Bitcoin are benefiting from US dollar weakness.
Diversification into infrastructure and healthcare can be advantageous.
Chapters
00:00Introduction and market overview
02:03US and Canadian tariffs and market impact
03:51US debt crossing $40 trillion and bond market effects
05:59Interest rates, inflation, and asset class crowding out
08:49Stock market sectors to watch: tech, energy, infrastructure
11:03Opportunities in healthcare and small/mid-cap stocks
12:00Closing remarks and upcoming guest interview
www.patrickmleonard.com www.reluctantlypodcast.com www.zoneonepodcast.com
@reluctantlypodcast @ZoneOnePodcast @TheAlbertaGolfPodcast @networkofgivingpodcast @DistilleryDiscovery
#markettrends #tariffs #bonds #stocks #gold #Bitcoin #inflation #investmentstrategies #USdebt #Canadianmarket

Another side of the Bull Market, FOMO?- Aug 18, 2026

Tue, 18 Aug 2026 04:00:00 -0000

On this week’s **Wealth Roundup**, Terry Evans is joined by Patrick Leonard of the Leonard Wealth Advisory Group at BMO Nesbitt Burns to break down a turbulent week in the markets and ask whether investors should be concerned—or see opportunity ahead. Patrick looks at the recent movement in the TSX and S&P 500, oil prices, gold, Bitcoin and the weakening U.S. dollar, while explaining why today’s bull market has attracted plenty of skeptics despite strong corporate earnings. They also tackle the dangers of FOMO investing and why chasing hot stocks, speculative opportunities or borrowing money to invest can put your long-term financial plan at risk. Plus, Terry finds a way to bring Warren Buffett, *Trading Places* and the Apple TV series *Stick* into a conversation about investing. It’s a practical look at staying disciplined when markets—and investors—get emotional.
Key Topics
Market performance and recent trends
Impact of macroeconomic factors like US dollar and oil prices
Investor sentiment and market skepticism
The importance of a long-term investment plan
Risks of FOMO and speculative investments
Market corrections and timing strategies
Earnings season insights and forecasts
Chapters
00:00 — Welcome to the Wealth Roundup
Intro and reminder to connect with Patrick Leonard for wealth management guidance.
00:35 — A turbulent week in the markets
Patrick breaks down the recent market pullback, oil strength, and movement in gold, Bitcoin, and the U.S. dollar.
04:22 — Is this a bull market?
The hosts discuss strong year-to-date gains and whether the current market qualifies as a bull market.
05:24 — Why this bull market feels “hated”
Patrick explains the tension between strong fundamentals and the weight of global uncertainty.
07:18 — Healthy corrections and market psychology
A correction is framed as potentially healthy after a strong run, especially heading into a U.
S. midterm cycle.
08:23 — FOMO and speculative investing
The conversation shifts to fear of missing out, risky assets, and why investors rush into speculative trades.
10:28 — Why risk needs to fit the plan
Patrick emphasizes risk tolerance, time horizon, borrowing to invest, and staying aligned with a long-term financial plan.
12:39 — Trading Places and diversification
A light closing analogy about diversification, followed by the episode wrap-up and contact reminder.
www.patrickmleonard.com
www.reluctantlypodcast.com
@reluctantlypodcast @ZoneOnePodcast @networkofgivingpodcast @TheAlbertaGolfPodcast @DistilleryDiscovery
#markettrends #investing #bullmarket #FOMO #macroeconomicfactors #USdollar #earnings #marketcorrection #investmentstrategy

Conservative Minds vs. Risk Takers, How Should You Position Your Portfolio in Today’s Market?- Aug 14, 2026

Fri, 14 Aug 2026 04:00:00 -0000

Episode 52 of **The Wealth Roundup** is back after a short summer break, and there’s plenty happening in the markets. Terry is joined by Patrick Leonard of Leonard Wealth Advisory Group at BMO Nesbitt Burns to break down recent market performance, including strong year-to-date returns in both Canada and the U.S., rising oil prices, and renewed strength in gold.
They also explore the latest AI investment story, including why companies such as Microsoft are seeing results from massive AI spending while others face greater scrutiny. Patrick discusses interest rates, inflation, Canadian economic growth and why market valuations deserve attention.
Plus, what should investors do with new money today? Patrick looks at opportunities for conservative, growth-oriented and middle-of-the-road investors, from GICs and bonds to diversified equities and dividend-paying investments.
Key Topics
Market performance post-summer break
Impact of AI earnings on tech giants like Microsoft and Meta
Oil prices and inflation outlook
US and Canadian economic indicators
Bond market dynamics and interest rate effects
Investment strategies for conservative and risk-loving investors
Takeaways
Market is up about 12% year to date in the US and 14% in Canada
Microsoft is successfully monetizing AI investments, boosting earnings
Meta is struggling despite high capital spending, leading to a stock sell-off
Oil prices are influenced by Middle East tensions, affecting inflation
Bonds reflect market value fluctuations based on interest rate changes
Valuations are high, so investors should be cautious about price expectations
Canadian market appears cheaper than US and European markets for valuation
Chapters
00:00Introduction and market overview post-summer
02:06Market performance and economic indicators
03:30AI earnings season highlights and tech giants
05:47Impact of geopolitical tensions on oil and inflation
06:42US Federal Reserve interest rate outlook
07:47Canadian economic recovery and GDP growth
08:51Investment outlook and valuation considerations
10:18Strategies for conservative investors during market volatility
12:14Bond market dynamics and interest rate effects
14:05Diversification and risk management in equities
www.patrickmleonard.com
@reluctantlypodcast @ZoneOnePodcast @DistilleryDiscovery @TheAlbertaGolfPodcast @networkofgivingpodcast
#markettrends #AI #earnings #investmentstrategies #inflation #bonds #equities #marketoutlook

How Inflation Impacts Your Portfolio? Can Commodities Help You Stay Ahead of Inflation? – Jul 24, 2026

Fri, 24 Jul 2026 04:00:00 -0000

In this episode of The Wealth Roundup, Terry and Patrick Leonard break down the latest market activity as July comes to a close, discussing why Canadian and U.S. markets remain range-bound despite ongoing economic uncertainty. They examine the impact of rising oil prices, steady gold values, Bitcoin's surprising strength, and the potential effects of new U.S. tariffs on Canadian exports. The conversation then shifts to one of the biggest concerns facing investors and retirees: inflation. Patrick explains why holding too much cash can quietly erode purchasing power and explores how equities, commodities, real estate, and businesses with strong pricing power can help protect long-term wealth. He also discusses the role of interest rates, consumer staples, and commodity investments, including the pros and cons of owning raw commodities versus resource companies. Whether you're planning for retirement or simply looking to build a more resilient portfolio, this episode offers practical insights for navigating today's unpredictable economic landscape.
Key Topics
Market performance and trends (June-July)
Impact of inflation on purchasing power
Investment options during inflation (stocks, commodities, real estate)
How central banks influence inflation and interest rates
Strategies for retirees to preserve wealth
Takeaways
Holding too much cash can be dangerous during inflation.
Assets like stocks, commodities, and real estate tend to rise with inflation.
Businesses with pricing power are good investments in inflationary periods.
Commodities can be a boom or bust, but resource companies offer more stability.
Diversification and expert guidance are key to navigating volatile markets.
Chapters
00:00 - Market overview and recent trends
01:01 -Gold, oil, and Bitcoin market movements
02:24 - Impact of US inflation data on markets
03:18 - Tariffs and Canadian export industries
04:41 - Protecting purchasing power amid rising prices
06:25 - Assets that hedge against inflation
08:17 - Pricing power of businesses during inflation
10:17 - Investing in commodities and resource companies
12:10 - Choosing between raw commodities and resource stocks
13:35 - Diversification and professional guidance
www.patrickmleonard.com
www.reluctantlypodcast.com
@reluctantlypodcast @ZoneOnePodcast @DistilleryDiscovery @TheAlbertaGolfPodcast
#markettrends #inflation #investmentstrategies #wealthmanagement #commodities #stocks #realestate #gold #cryptocurrencies

Canada’s Productivity Report Card, What Investors Need to Know? – Jul 17 2026

Fri, 17 Jul 2026 04:00:00 -0000

In Episode 50 of The Wealth Roundup, Terry and Patrick Leonard of the Leonard Wealth Advisory Group at BMO Nesbitt Burns break down another eventful week in the financial markets. They discuss easing inflation, rising oil prices, the start of earnings season, and why strong corporate results could continue to support markets. The main focus of the episode is economic productivity—what it is, why it matters, and why Canada has fallen behind the United States and several other developed economies over the past two decades. Patrick explains how productivity influences wages, business profitability, tax revenues, and overall quality of life, while highlighting the critical role of technology, AI adoption, education, and business investment in driving future growth. The conversation also explores how artificial intelligence could become the next major catalyst for improved productivity and sustained market performance. Whether you're an investor or simply curious about the economy, this episode offers valuable insights into the forces shaping Canada's financial future.
Key Topics
Productivity measurement and its impact on standard of living
The productivity gap between Canada and the US since 2001
The role of technology and AI in boosting productivity
Global comparisons of productivity: Europe, Asia, and North America
Investment trends driven by AI infrastructure spending
Strategies to improve Canadian productivity: education, scale, innovation
Takeaways
US productivity has more than doubled Canadian productivity since 2001.
Investing in technology and AI adoption is crucial for closing the productivity gap.
Higher productivity leads to increased wages, profits, and government revenue.
Canada needs to focus on technology adoption, education, and scaling businesses.
Global competitiveness depends on innovation and productivity improvements.
Chapters
00:00 - Introduction and episode overview
00:56 - Market updates and recent economic news
04:50 - Understanding productivity and its importance
07:08 - The productivity gap between Canada and the US
10:54 - Global comparisons: Europe, Asia, and emerging markets
12:47 - The role of AI and technology in boosting productivity
15:13 - Investment in AI infrastructure and future growth
16:01 - Strategies for improving Canadian productivity
16:23 - Conclusion and key takeaways
www.patrickmleonard.com
@reluctantlypodcast @ZoneOnePodcast @DistilleryDiscovery @TheAlbertaGolfPodcast

Will New Canadian Energy Projects Drive the Next Market Opportunity? How Could U.S. Midterms Impact Investors? – Jul 10, 2026

Fri, 10 Jul 2026 04:00:00 -0000

Is Canada's market rally just getting started? In this week's Wealth Roundup, Terry Evans and Patrick Leonard of the Leonard Wealth Advisory Group at BMO Nesbitt Burns discuss the strong performance of the TSX and S&P 500, what's fueling investor confidence, and why earnings season could determine the market's next move.
They also examine the renewed push for Canadian pipeline projects, including what they could mean for Canada's economy, energy sector, and long-term investment opportunities. Plus, Patrick explains why investors should avoid making decisions based solely on headlines and how infrastructure projects often take years to impact markets.
The conversation also explores how upcoming U.S. midterm elections may influence stock market volatility, sector rotation, and portfolio strategy. Whether you're an experienced investor or just beginning your financial journey, this episode delivers practical insights on market trends, investing, the Canadian economy, and building long-term wealth.
Key Topics
Market performance year-to-date and outlook for 2026
Impact of pipeline projects and energy sector in Canada
US midterm elections and their influence on markets
Sector rotation and investment opportunities
Gold, oil, Bitcoin trends and analysis
Takeaways
Market has seen strong performance, with a 30% increase over the past year.
Pipeline projects in Canada are a positive sign for the energy sector but require caution due to long timelines.
US midterm elections tend to increase market volatility, with potential for sector rotation.
Nothing in today's market looks cheap; investors should consider sector and geographic diversification.
Long-term outlook should extend beyond midterm elections, focusing on 2027 market conditions.
Chapters
00:00 - Market Overview and Year-to-Date Performance
07:34 - Pipeline Politics and Investment Opportunities
14:21 - Elections, Market Volatility, and Future Outlook
www.patrickmleonard.com
@reluctantlypodcast @ZoneOnePodcast @DistilleryDiscovery @TheAlbertaGolfPodcast
#TSX #StockMarket #Investing #CanadianEconomy #Pipelines #AlbertaEnergy #BMONesbittBurns #WealthManagement #S&P500 #MarketUpdate #PersonalFinance #CanadianInvesting #USElections #EarningsSeason #LongTermInvesting

Midpoint 2026. Results vs expectations and what’s next. - Jul 03 2026

Fri, 03 Jul 2026 04:00:00 -0000

Terry Evans sits down with Patrick Leonard of the Leonard Wealth Advisory Group (BMO Nesbitt Burns) for a half-year market review as we head into July. Patrick breaks down where markets actually landed versus earlier 2026 forecasts — the TSX and S&P 500 have already blown past year-end targets, Canadian banks and industrials are having standout years, and Alberta continues to lead the country in growth. But not every call hit the mark: the US dollar strengthened instead of weakening, gold has cooled off, and Bitcoin is feeling the pressure of rising rates. Patrick also unpacks the surprising story behind 2026's energy price swings and previews what could make the rest of the year "spicy" — earnings season, interest rate uncertainty, and historical midterm volatility. A grounded, numbers-driven look at where your portfolio really stands at the halfway point.
Key Topics
Market performance in 2026
Impact of geopolitical events on markets
Interest rate trends and implications
Sector performance and outlook
Energy prices and global supply chain
Takeaways
The S&P 500 is up about 9.25% year-to-date.
Gold prices are weakening due to changing conditions.
Bitcoin may face further weakness if interest rates rise.
Oil prices are expected to average around $75 for 2026.
Market volatility is likely ahead of the US midterms.
Chapters
00:00 - Market Overview and Expectations
10:02 - Mid-Year Review and Future Predictions
www.patrickmleonard.com
www.reluctantlypodcast.com
@reluctantlypodcast @ZoneOnePodcast @DistilleryDiscovery @TheAlbertaGolfPodcast
#marketupdate #investment #stocks #bonds #oil #gold #Bitcoin #interestrates #geopoliticalrisk #2026outlook #midterms2026

Mortgage considerations Fixed or Variable. Which is better for me a TFSA or RSP? - Jun 26, 2026

Fri, 26 Jun 2026 04:00:00 -0000

In this week’s Wealth Roundup, host Terry Evans sits down with Patrick Leonard of the Leonard Wealth Advisory Group at BMO Nesbitt Burns to break down the latest market movements and what they could mean for investors. They discuss recent pullbacks in U.S. and Canadian markets, the impact of interest rate expectations, oil prices, gold’s surprising weakness, and the latest developments in Bitcoin. Patrick also explores sector rotation, the outlook for technology stocks, and how upcoming IPOs from major AI companies could influence investor behavior. The conversation then shifts to practical financial planning, including the pros and cons of RRSPs versus TFSAs and how to determine which savings vehicle best fits your goals. Finally, Patrick shares insights on fixed versus variable-rate mortgages, highlighting key factors homeowners should consider in today’s interest rate environment. Whether you're building wealth, planning for retirement, or navigating mortgage decisions, this episode delivers timely, actionable financial guidance.
Key Topics
Market overview and recent trends
Interest rate outlook and implications
Portfolio diversification and sector rotation
Mortgage options: fixed vs variable
Tax-advantaged savings: RRSP vs TFSA
Takeaways
Market volatility is normal and healthy for long-term investors.
Interest rates in the US and Canada are likely to remain stable or increase.
Sector rotation is a natural part of market cycles, with some sectors under pressure.
Choosing between fixed and variable mortgages depends on risk tolerance and market outlook.
TFSA offers flexibility, while RRSP provides tax deferral benefits.
Chapters -
00:00 - Market Overview and Recent Trends
08:43 - Investment Strategies: RRSP vs TFSA
11:45 - Understanding Mortgage Options: Fixed vs Variable Rates
www.patrickmleonard.com
@reluctantlypodcast @ZoneOnePodcast @DistilleryDiscovery @TheAlbertaGolfPodcast
#markettrends #interestrates #investmentstrategies #wealthmanagement #portfoliodiversification

Great Spacexpecations! and What’s next for Canadian Economy? - Jun 19, 2026

Fri, 19 Jun 2026 04:00:00 -0000

This week on The Wealth Roundup, Terry Evans and Patrick Leonard break down the key stories shaping markets and the economy. Patrick explains why recent gains in Canadian and U.S. markets may be tied to easing concerns around Iran and how oil prices continue to influence inflation, interest rates, and investment returns. They discuss why higher gas prices can be both a benefit and a challenge for Albertans and investors alike.
The conversation also dives into the blockbuster SpaceX IPO, its stunning market debut, and what investors should consider before jumping in. Patrick explores the risks of investing in high-growth companies that are not yet profitable and how major IPOs can impact the broader market.
Finally, they examine Canada’s economic outlook, including recession concerns, population declines, employment trends, inflation, and housing market performance. If you want practical insights on markets, investing, and the Canadian economy, this episode is packed with valuable perspective.
Chapters
00:00 - Market Overview and Current Trends
06:53 - The Impact of Oil Prices on the Economy
10:34 - SpaceX IPO and Its Implications
14:40 - The State of the Canadian Economy
www.patrickmleonard.com
@reluctantlypodcast @TheAlbertaGolfPodcast @ZoneOnePodcast @DistilleryDiscovery
#markettrends #oilprices #SpaceXIPO #Canadianeconomy #investing #wealthmanagement

Recession in Canada. What should I do with my investments? - Jun 12, 2026

Fri, 12 Jun 2026 04:00:00 -0000

Patrick Leonard discusses recent market fluctuations, economic indicators in Canada and the US, and the implications of upcoming central bank decisions. Gain insights into how geopolitical events, AI developments, and monetary policy influence investment strategies.
Key Topics
Market fluctuations and their causes
Canadian and US economic indicators
Impact of central bank rate decisions
Chapters
00:00 - Introduction and Market Overview
00:40 - Market Volatility in 2026
01:10 - Market Targets and Recent Performance
02:04 - Skepticism and Market Drivers
02:31 - Geopolitical and AI Market Influences
03:24 - Canadian Economy and Recession Indicators
04:19 - Canada's Economic Policy and Diversification
05:46 - Job Growth and Economic Signals in Canada
06:50 - Investor Strategies Amid Economic Uncertainty
10:10 - Bank of Canada Rate Outlook
11:55 - US and Canadian Bond Market Expectations
13:15 - Upcoming Central Bank Decisions and Market Impact
Website - https://patrickmleonard.com
@reluctantlypodcast @TheAlbertaGolfPodcast @ZoneOnePodcast @DistilleryDiscovery
#marketanalysis #Canadianeconomy #USeconomy #interestrates #inflation #investmentstrategy #centralbanks #recession #AIimpact #geopoliticalrisks #bankofcanada #primerate

Insurance To Pay My Taxes. Tell me more. - May 15, 2026

Fri, 15 May 2026 04:00:00 -0000

This episode explores the intricacies of estate planning, insurance strategies, and how permanent life insurance can be a powerful tool for wealth preservation and tax minimization. Experts Patrick Leonard and Eric Leveille discuss when and how to leverage insurance for intergenerational wealth transfer.
Chapters
00:00 Market Overview and Inflation Insights
02:35 Introduction to Insurance and Estate Planning
04:06 Understanding Life Insurance and Its Importance
07:32 The Concept of Estate Bonds
10:43 Timing for Investment Insurance
12:41 Borrowing Against Paid-Up Insurance Policies
#estateplanning #lifeinsurance #wealthmanagement #taxminimization, #permanentinsurance #estatebonds #borrowingagainstinsurance #wealthtransfer
www.patrickmleonard.com
Patrick Leonard - https://www.linkedin.com/in/patrickleonard/
Eric Leveille - https://www.linkedin.com/in/ericleveille/

Surprise earnings. How to plan for an inheritance - May 08, 2026

Fri, 08 May 2026 04:00:00 -0000

In this episode, Patrick Leonard discusses market trends, earnings reports, and strategic advice on handling inheritance, providing valuable insights for investors and individuals planning their financial future.
Chapters
00:00 - Introduction and Anniversary Celebration
01:18 - Market Overview and Economic Insights
09:14 - Understanding Inheritance and Estate Planning
www.patrickmleonard.com
@reluctantlypodcast @ZoneOnePodcast @TheAlbertaGolfPodcast
#marketanalysis #earningsreports #inheritanceplanning #investmentstrategies #Shopify #ThompsonReuters #Amazon #Google #Meta #taxstrategies
#Investmentoptions #postinheritance
#geopoliticalevents #markets #markettrends #inflationstrategies #investing #economicoutlook

Sovereign Wealth Fund for Canada. What are Central Banks thinking about? - May 1, 2026

Fri, 01 May 2026 04:00:00 -0000

This episode features Patrick Leonard discussing the current state of global markets, the impact of central bank policies, and the potential of Canada's Sovereign Wealth Fund. Gain insights into market breadth, interest rate strategies, and future economic prospects.
Chapters
00:00 Market Overview and Current Trends
04:17 Impact of Bank Rates on Markets
07:29 The Significance of a Sovereign Wealth Fund for Canada
#markets #investment #Canada #US #SovereignWealthFund #interestrates #economicgrowth #inflation #centralbanks
Patrick Leonard's Website - http://www.patrickmleonard.com

We need more Power! - April 24, 2026

Fri, 24 Apr 2026 04:00:00 -0000

This episode explores the current state of global markets, geopolitical impacts, AI investment, and energy infrastructure, providing valuable insights for investors and business owners.
Chapters
00:00 - Market Dynamics and Geopolitical Influences
04:31 - Canadian Business Outlook and Economic Sentiment
07:26 - Impact of Energy Prices on Affordability
10:44 - Investing in Energy and Infrastructure
14:44 - Sector-Specific Investment Opportunities
www.patrickmleonard.com
@reluctantlypodcast @ZoneOnePodcast @TheAlbertaGolfPodcast
#markets #geopolitics #AI #energyinfrastructure #Canadianeconomy #investmentstrategies #Globalmarket #geopoliticalevents #AIinvestment
#economicoutlook #Energydemand #investmentopportunities
#Canadianbusiness #Energyinfrastructure #InvestmentTrends

How should I be investing in today’s market?- April 17 2026

Fri, 17 Apr 2026 04:00:00 -0000

Patrick Leonard shares insights on recent market trends, the impact of geopolitical events on investments, and practical strategies for navigating economic uncertainty. Discover how diversification, commodities, and consumer behavior influence your investment decisions.
Chapters
00:00 - Introduction and Market Overview
03:03 - Impact of Geopolitical Events on Consumer Behavior
05:58 - Investment Strategies in Uncertain Times
08:42 - Diversification and Commodity Investments
www.patrickmleonard.com
#markettrends #investing #diversification #commodities #geopoliticalrisk #energyprices #economicoutlook #Marketperformance
#MiddleEast #conflict
#Consumerbehavior
#Diversificationstrategies
#portfoliosmith
@reluctantlypodcast @ZoneOnePodcast @TheAlbertaGolfPodcast

Should I buy the dip? What is a covered call ETF? - April 10, 2026

Fri, 10 Apr 2026 04:00:00 -0000

Patrick Leonard discusses recent market performance, the impact of sector composition on returns, and investment strategies like buying the dip and covered calls. Gain insights into Canadian and US markets, energy forecasts, and risk management techniques.
Key topics
Canadian stock market performance
Sector influence on returns
Investment strategies: buy the dip and covered calls
Takeaways
The TSX had an extraordinary 2025, driven by banks and gold miners.
Canadian market performance is heavily influenced by resource and financial sectors.
Buying the dip can be effective for long-term investors with high risk tolerance.
Covered call ETFs provide a way to generate higher income but may limit upside.
Chapters
00:00 - Market Overview and Historical Performance
05:20 - Current Market Trends and Investor Sentiment
10:33 - Buying the Dip: Strategies and Considerations
14:24 - Understanding Covered Calls and Investment Strategies
#marketanalysis #TSX #S&P500 #investingstrategies #buyingthedip #coveredcalls #energyforecast #goldprices #riskmanagement #wealthmanagement #investmentinsight #fomo
Patrick Leonard's Website - http://www.patrickmleonard.com
The Wealth Round Up is part of The Reluctantly Podcast Network and Terry Evans Inc
Look up...
@reluctantlypodcast @ZoneOnePodcast @DistilleryDiscovery
The Alberta Golf Podcast and The Get It Right-Klondike Insurance Podcast

Middle East Conflict. What we know. What does it mean for my investments? - April 03 2026

Fri, 03 Apr 2026 04:00:00 -0000

In this episode, Patrick Leonard discusses the recent market trends, the impact of geopolitical events like the war in Iran, and how investors can navigate volatility with strategic asset allocation and risk management.
Takeaways
Market volatility is influenced by geopolitical events like the war in Iran.
Diversified portfolios with bonds and gold can provide stability.
Proper asset allocation helps manage investor anxiety during downturns.
Interest rates and inflation are likely to be affected by energy prices.
A live webcast will be available for further investor guidance.
Chapters
00:00Market Overview and Recent Trends
06:01Impact of Global Events on Investments
10:37Navigating Investment Anxiety and Portfolio Management
www.patrickmleonard.com
@reluctantlypodcast @ZoneOnePodcast
#markettrends #investmentstrategies #geopoliticalimpact #assetallocation #wealthmanagement

Middle East and the Markets - March 20, 2026

Fri, 20 Mar 2026 04:00:00 -0000

In this episode, Patrick Leonard discusses current market trends, the impact of geopolitical events on commodities, and how AI is transforming investment strategies. Gain insights into market volatility, economic outlooks for Canada and the US, and the disruptive potential of AI in finance.
Key Topics
Market volatility and options expiry
Impact of geopolitical events on oil and energy prices
The relationship between gold, US dollar, and Bitcoin
Economic outlook for Canada and the US in 2026
The disruptive role of AI in investment strategies
Takeaways
Market volatility is expected to increase due to options expiry and geopolitical tensions.
Energy self-sufficiency in North America supports Canadian markets amid global uncertainty.
Gold's recent weakness is linked to US dollar strength, while Bitcoin benefits from AI-driven market shifts.
Canada's economy is holding up well with a GDP growth forecast of 1.3% for 2026.
AI is disrupting traditional industries, with winners adopting new efficiencies and losers becoming obsolete.
Chapters
00:00Market Overview and Volatility Expectations
04:44Understanding Stagflation and Economic Indicators
09:30Canadian Economic Outlook and Oil Prices
14:00AI's Impact on Investment Opportunities
www.patrickmleonard.com
@reluctantlypodcast @ZoneOnePodcast
#marketanalysis #AIdisruption #Canadianeconomy #oilprices #gold #Bitcoin #marketvolatility #investmentstrategies
Leonard Wealth Advisory Group of BMO
Patrick Leonard's Website
BMO Capital Markets AI Initiatives

Why a Trust in regards to Estate Planning? Middle East and the Markets. - Mar 12 2026

Thu, 12 Mar 2026 04:00:00 -0000

This episode features estate planning expert Shawna Albornoz discussing the intricacies of family trusts, their benefits, and how they vary across Canadian provinces. Learn how trusts can protect assets, manage estate distribution, and the importance of choosing professional trustees to ensure smooth estate management.
Key Topics
What is a family trust and how does it work?
Reasons for creating a trust: asset protection, disability, second marriages
Differences in estate law across Canadian provinces
Benefits of using a corporate trustee like BMO Trust
The role and responsibilities of trustees and executors
How trusts can prevent asset loss in divorce or lawsuits
Tax implications of trusts and estate planning
The importance of estate planning before passing away
Guest Name
Shawna Albornoz
Chapters
00:00 - Introduction to Wealth Planning and Trusts
01:49 - Understanding Family Trusts
03:39 - Trusts and Family Dynamics
07:23 - Trusts for Different Family Structures
09:10 - Provincial Differences in Estate Law
10:21 - Trusts vs. Wills: Understanding Probate
11:24 - The Role of Corporate Trustees
15:06 - The Importance of Estate Planning
16:41 - Market Overview and Economic Insights
www.patrickmleonard.com
@reluctantlypodcast @ZoneOnePodcast
Resources
Shawna Albornoz - Wealth Planning Expert
BMO Trust Services
Estate Planning Resources - BMO
#estateplanning #familytrusts #assetprotection #probate#trustmanagement #estatelaw #Canada #wealthplanning#BMOTrust #estateexecutor #trustbenefits

Alberta Budget / Markets and Middle East Conflict - Mar 06 2026

Fri, 06 Mar 2026 05:00:00 -0000

Terry Evans and Patrick Leonard discuss the current state of the market, the impact of geopolitical events on investments, and a review of the Alberta budget. They analyze recent market trends, the significance of oil prices, and the implications of government spending and deficits on the economy. The discussion emphasizes the importance of understanding investment portfolios and preparing for market volatility.
Takeaways
The market experienced a significant drop due to geopolitical tensions.
Bonds are crucial for forecasting long-term market outlooks.
Investors should be prepared for geopolitical risks before they occur.
A diversified portfolio mitigates the impact of market volatility.
Oil prices are a key factor in economic forecasts and budgets.
Alberta is facing a sizable budget deficit due to low oil prices.
Higher oil prices could benefit Alberta's economy in the short term.
Understanding what you own in your portfolio is essential for investors.
Government spending in Alberta is increasing, particularly in education and healthcare.
The economic impact of the Alberta budget will be felt more next year.
Chapters
00:00 - Market Overview and Recent Trends
05:50 - Geopolitical Impacts on Investments
09:49 - Alberta Budget Review and Economic Implications
www.patrickmleonard.com
@reluctantlypodcast @ZoneOnePodcast
#markettrends #geopoliticalrisk #Albertabudget #investmentstrategies #oilprices #economicoutlook #inflation #wealthmanagement #financialadvisory #risktolerance

Invest more or pay off Debt what is right for me? - Feb 18 2026

Wed, 18 Feb 2026 05:00:00 -0000

Terry Evans and Patrick Leonard discuss the current state of the markets, highlighting a slight downturn across various assets. They delve into the implications of tax season, the importance of financial planning, and strategies for managing investments and debt. The conversation emphasizes the need for proactive wealth management and the use of planning tools to navigate financial decisions effectively.
takeaways
The markets have shown a slight decline recently.
Investors need to be aware that markets don't always rise.
AI disruption is a concern for market stability.
Consumer spending has shown signs of weakness post-holidays.
Tax season is approaching, prompting financial evaluations.
RRSP contributions are due soon, affecting financial choices.
Debt management is crucial in financial planning.
Investment strategies should consider both returns and debt levels.
Wealth planning tools are increasingly important for advisors.
Proactive financial management can alleviate stress.
Chapters
00:00 - Market Overview and Trends
05:44 - Tax Season and Financial Planning
11:23 - Wealth Management Strategies
www.patrickmleonard.com
www.reluctantlypodcast.com @reluctantlypodcast
www.zoneonepodcast.com @ZoneOnePodcast
#markettrends #financialplanning #taxseason #investmentstrategies #wealthmanagement #RRSP #TFSA #debtmanagement #consumerspending #earningsseason

Tariffs 1 year later. Be careful of headlines. - Feb 12 2026

Thu, 12 Feb 2026 05:00:00 -0000

Terry Evans and Patrick Leonard discuss the recent volatility in the markets, particularly focusing on precious metals and the impact of AI on the software sector. They explore the psychology of investors in light of recent stock price drops and the implications of tariffs on trade relations between Canada and the US. The conversation highlights the importance of understanding market dynamics and the potential for diversification in investment strategies.
Takeaways
The markets have experienced significant volatility recently.
Gold and silver saw drastic price fluctuations.
Earnings reports show an average increase of 11% in Q4.
Software companies are facing challenges due to AI advancements.
Investor psychology plays a crucial role in market behavior.
Tariffs have significantly impacted trade relations between Canada and the US.
Canada's trade surplus with the US has narrowed considerably.
Steel exports to the US have dropped significantly due to tariffs.
The US has collected substantial tariffs since the new program began.
Market diversification is becoming increasingly important for future growth.
Chapters
00:00 Market Volatility and Precious Metals
03:11 Earnings Reports and Software Sector Declines
06:53 Impact of AI on Employment and Software Companies
09:02 Tariff Talks and Trade Surplus Dynamics
www.patrickmleonard.com
www.reluctantlypodcast.com
www.zoneonepodcast.com
@reluctantlypodcast @ZoneOnePodcast
#marketvolatility #preciousmetals #earningsreports #softwaresector #AIimpact #investorpsychology #tariffs #traderelations #Canada #USA #wealthmanagement

Knowing when to sell. - Feb 6 2026

Fri, 06 Feb 2026 05:00:00 -0000

In this episode of the Wealth Roundup, Terry Evans and Patrick Leonard discuss the recent market fluctuations, particularly focusing on the impact of leadership changes in the Federal Reserve, the performance of major companies like Microsoft, and the trends in cryptocurrency. They explore how economic indicators and narratives shape market reactions and the significance of leadership in economic policy. The conversation also touches on the implications of interest rates and inflation on investment strategies.
Takeaways
The markets reacted strongly to leadership changes in the Federal Reserve.
Microsoft's earnings report had a surprising negative impact on its stock price.
Market narratives can significantly influence investor sentiment and decisions.
Leadership in the Federal Reserve can have global economic implications.
Interest rates and inflation are critical factors in market performance.
Cryptocurrency trends are closely tied to economic indicators like the US dollar's strength.
Investors often use leverage to invest in cryptocurrencies, which can amplify losses.
The selection of a new Fed chairman is a complex process with significant scrutiny.
Experience in economic crises can be a valuable asset for new leaders.
Understanding market dynamics requires a long-term perspective beyond immediate reactions.
Chapters
00:00 - Introduction to Wealth Roundup
00:37 - Market Reactions and Economic Indicators
04:32 - Impact of Leadership on Economic Policies
07:57 - Cryptocurrency Trends and Market Dynamics
10:38 - Final Thoughts on Federal Reserve Leadership
www.patrickmleonard.com
www.reluctantlypodcast.com
@reluctantlypodcast
www.zoneonepodcast.com
@ZoneOnePodcast
#WealthRoundup #marketanalysis #economicindicators #FederalReserve #cryptocurrency #investmentstrategies #interestrates #inflation #bitcoin #financialnews

Markets Update & When to Sell - Jan 28 2026

Wed, 28 Jan 2026 05:00:00 -0000

Terry Evans and Patrick Leonard discuss the current state of the markets, including the impact of geopolitical events, the performance of various assets like gold and the Canadian dollar, and the upcoming economic calendar. They delve into investment strategies, particularly the complexities of buying and selling investments, and share insights on how to navigate these decisions effectively. The conversation also touches on the wisdom of Warren Buffett regarding wealth management and investment strategies.
Takeaways
Gold prices have surged, reaching new highs.
The Canadian dollar is showing strength against the US dollar.
Investment decisions can be influenced by emotional factors.
Selling investments can be more challenging than buying.
Technical analysis can guide sell decisions based on market trends.
Qualitative analysis focuses on the underlying value of investments.
Rebalancing a portfolio is essential for maintaining asset allocation.
Market conditions can shift the attractiveness of growth vs. value stocks.
Warren Buffett's rules emphasize the importance of capital preservation.
Understanding economic indicators is crucial for investment planning.
Chapters
00:00Market Overview and January Insights
05:50Currency Dynamics: The Canadian Dollar's Strength
11:44Investment Strategies: When to Buy and Sell
14:55Warren Buffett's Wisdom on Selling Investments
www.patrickmleonard.com
www.reluctantlypodcast.com
www.zoneonepodcast.com
#markettrends #investmentstrategies #economicoutlook #goldprices #Canadiandollar #stockmarket #wealthmanagement #interestrates #financialplanning #geopoliticalevents

Assessing Risk and The FOMO - Jan 20 2026

Tue, 20 Jan 2026 05:00:00 -0000

Terry Evans and Patrick Leonard celebrate their 30th episode, reflecting on their growth and the insights gained over their podcasting journey. They discuss recent market trends, including a notable decline in the S&P 500 and the impact of significant events on market performance. Patrick highlights the importance of diversification in investment portfolios, especially in light of the recent volatility in U.S. markets, and emphasizes the need for investors to understand their true risks versus perceived risks.
The conversation shifts to the psychology of investing, where Patrick introduces the concepts of FOMO (Fear of Missing Out) and FOLAY (Fear of Losing All Your Investment). He explains how emotions and behavior significantly influence investment decisions, often leading to poor outcomes. The hosts discuss the importance of having a solid financial plan and regular check-ins with clients to assess their risk tolerance and investment strategies, especially during fluctuating market conditions. They conclude with a reminder of the timeless wisdom from Warren Buffett about being cautious when others are greedy and vice versa.
Takeaways
30 episodes in, I've become more savvy about investments.
Diversification has paid off during recent market volatility.
Investors feel losses more acutely than gains.
Regular check-ins on risk tolerance are crucial for investors.
Warren Buffett's advice: be fearful when others are greedy.
titles
Navigating Market Volatility: Insights from 30 Episodes
The Psychology of Investing: FOMO and FOLAY Explained
Chapters
00:00 - Celebrating 30 Episodes
01:54 - Market Overview: S&P 500 and Canadian Equities
04:5 - The Psychology of Investing: FOMO and FOLAY
09:28 - Understanding Risk and Investor Behavior
13:19 - Conclusion and Wealth Management Resources
www.patrickmleonard.com
www.reluctantlypodcast.com
www.zoneonepodcast.com
Patrick.M.Leonard@NBPCD.com
#WealthRoundup #investingpsycholog #markettrend #diversification #FOMO #financialplanning #riskmanagement #S&P500 #Bitcoin #Netflixearnings

Financial Fact and Fiction - Jan 15 2026

Thu, 15 Jan 2026 05:00:00 -0000

In this episode of the Wealth Roundup, Terry Evans and Patrick Leonard discuss the optimistic market outlook for 2026, current market trends, and the importance of financial literacy. They explore how economic factors like interest rates and government spending influence market performance, and emphasize the need for informed investment decisions. Patrick shares valuable resources for enhancing financial literacy and highlights the role of professional guidance in wealth management.
Takeaways
Optimistic consensus among investors for 2026 market rally.
Central banks are not expected to raise interest rates further.
Positive earnings momentum supports market growth.
Government fiscal spending is a significant tailwind.
Oil prices are stabilizing, impacting Canadian markets positively.
Gold prices are rising but may become expensive.
US inflation readings align with expectations, supporting rate cut forecasts.
Financial literacy is crucial for informed investment decisions.
Fact-checking information is essential in financial planning.
Professional guidance enhances investment outcomes.
Chapters
00:00 - Market Outlook for 2026
04:32 - Current Market Trends and Updates
09:49 - Financial Literacy and Investment Education
www.patrickmleonard.com
www.reluctantlypodcast.com @reluctantlypodcast
www.zoneonepodcast.com @ZoneOnePodcast

What’s the Bond Market telling us? Financial checklist to Start the Year - Jan 6, 2026

Wed, 07 Jan 2026 05:00:00 -0000

Terry Evans and Patrick Leonard discuss the current state of the markets, including the impact of recent events in Venezuela on oil prices and the overall economic outlook. They delve into the bond market, exploring its significance as a leading indicator of economic conditions and providing forecasts for interest rates in both the US and Canada. The conversation also covers essential financial planning strategies for the new year, emphasizing the importance of making timely contributions to tax-sheltered accounts and managing mortgage payments effectively.
Takeaways
There was a pick up in volatility in oil markets.
Oil prices have stabilized since the weekend.
Long-term growth opportunities for Canadian heavy crude exports exist.
The bond market provides leading indicators for economic conditions.
US bond market forecasts suggest potential interest rate cuts.
Canadian bond market shows signs of weakening expectations.
Investors should prioritize TFSA contributions at the start of the year.
Home savings accounts offer new investment opportunities.
Lump sum payments on mortgages can help pay them off sooner.
Financial planning should be tailored to individual priorities.
Chapters
00:00 - Market Overview and Economic Impact
05:38 - Bond Market Insights and Predictions
08:04 - Financial Planning for the New Year
www.patrickmleonard.com
www.reluctantlypodcast.com
www.zoneonepodcast.com
#wealthmanagement #financialplanning #bondmarket #investmentstrategies #economicoutlook #Canadianeconomy #oilmarket #marketvolatility #TFSAcontributions #mortgagepayments

Preparing your Investment Portfolio 2026 - Dec 31 2025

Wed, 31 Dec 2025 05:00:00 -0000

Patrick and Terry's conversation, this week, provides a comprehensive overview of the economic landscape as we transition from 2025 to 2026, focusing on investment insight, market performance, and contemplations for various sectors including gold, energy, and equities. Patrick Leonard shares insights on the TSX's performance, the outlook for Canadian banks, and the potential for gold and energy markets, while emphasizing the importance of strategic portfolio adjustments.
Takeaways
The TSX composite was up 30% in 2025, which is above the long-term average.
Gold mining companies significantly outperformed, with gains over 100%.
The economic environment for 2026 is expected to be constructive for Canadian banks.
Energy prices are a critical factor for the TSX's performance in 2026.
Investors should consider the purchasing power of currencies when evaluating gold prices.
US equities have performed well, but may require portfolio adjustments.
Healthcare stocks are currently undervalued but come with risks.
Investors should be cautious of overexposure to a few tech stocks in the S&P 500.
The demand for energy will increase with the growth of AI applications.
Strategic tweaks to investment portfolios are essential as market conditions evolve.
Chapters
00:00 - 2025 Wealth Roundup and Economic Outlook
05:33 - Gold Market Insights and Investment Strategies
07:21 - Tweaking Investment Portfolios for 2026
12:08 - Conclusion and Future Considerations
www.patrickmleonard.com
www.reluctantlypodcast.com
www.zoneonepodcast.com
#WealthRoundup #investmentstrategies #economicoutlook #goldmarket #portfoliomanagement #Canadianbanks #USequities #energysector #financialmarkets #2026 #yearinreview

Economic- Outlook Part 2- Dec 24 2025

Wed, 24 Dec 2025 05:00:00 -0000

In this episode of the Wealth Roundup, Terry Evans and Patrick Leonard discuss the financial landscape as they reflect on the year 2025 and provide insights into investment forecasts for 2026. They cover the performance of Canadian and US equities, the expected returns on various investment vehicles, and the economic outlook for Alberta amidst inflation and oil price fluctuations. The conversation emphasizes the importance of cautious optimism in financial forecasting and the potential for growth in the Alberta economy.
Takeaways
The year 2025 saw unexpected positive performance in Canadian equities.
Forecasts are based on time-tested models and analyst insights.
Canadian one-year treasury bills serve as a benchmark for cash returns.
Interest rates for cash are around 2%, with bonds yielding higher returns.
Equities are expected to provide growth but come with risks.
Alberta's economy is projected to lead Canada in growth.
Inflation impacts all aspects of the economy and investment returns.
US interest rates are expected to decrease in the coming year.
The TSX 60 is forecasted to yield a 6% return in 2026.
Caution is advised when evaluating high-interest savings offers.
Chapters
00:00 - Market Overview and Year-End Reflections
02:13 - Forecasting for 2026: Insights and Expectations
04:57 - Understanding Cash, Savings, and Investment Returns
07:48 - Equities Outlook: Canadian and US Markets
10:23 - Alberta's Economic Landscape and Oil Prices
11:50 - Conclusion and Future Engagement
www.patrickmleonard.com
www.reluctantlypodcast.com
www.zoneonepodcast.com
#financialreview @investmentoutlook# #economicgrowth #inflation #Canadianequities #USequities #interestrates #wealthmanagement #marketforecasts #Albertaeconomy

Economic - Outlook 2026 Part 1- Dec 17 2026

Wed, 17 Dec 2025 05:00:00 -0000

In this episode of the Wealth Roundup, Terry Evans and Patrick Leonard discuss the current state of the markets as they approach the end of 2025, including insights on interest rates, economic forecasts for Canada and the US, and potential risks for investors in 2026. They explore the impact of recent Fed rate cuts, the outlook for GDP growth, and the importance of monitoring inflation and credit markets as key factors influencing investment strategies moving forward.
Takeaways
The US market is slightly down today, indicating job weakness.
Gold has seen significant fluctuations, recently peaking over 4,300.
The Fed's recent interest rate cut is significant for the US economy.
Canada's GDP growth is expected to be between 1 and 1.5%.
Lower interest rates are anticipated to stimulate the Canadian economy.
The US economy is expected to benefit from AI spending and tax reforms.
Inflation remains a key risk for both the US and Canadian economies.
Credit market health is crucial for financing business investments.
Earnings misses are expected as companies adjust to economic conditions.
Currency debasement is a concern, impacting purchasing power.
Chapters
00:00 - Market Overview and Year-End Reflections
05:15 - Economic Outlook for Canada in 2026
09:07 - US and Global Economic Interconnections
11:44 - Identifying Risks for 2026 Investments
www.patrickmleonard.com
www.reluctantlypodcast.com
www.zoneonepodcast.com
#marketoverview #interestrates #economicoutlook #Canada #USeconomy #inflation #investmentrisks #GDPgrowth #Bitcoin #gold #creditmarkets #debasement #deductions #bigbeautifulbill #thefed #bankofcanada

Aging in Place. Renovation and design expert discusses right sizing your home for the future. - Dec 12 2025

Fri, 12 Dec 2025 05:00:00 -0000

In this episode of the Wealth Roundup, Terry Evans and Patrick Leonard discuss the current state of the markets as they approach the holiday season, focusing on economic indicators and central bank decisions. They then transition to home renovation trends, particularly the growing interest in aging in place and multi-generational living. Sheldon Small joins the conversation to share insights on design considerations and the importance of budgeting for renovations, emphasizing the need for quality materials and transparency in contractor relationships.
Takeaways
The markets are relatively flat as the holiday season approaches.
Canadian banks are expected to remain profitable despite economic fluctuations.
Aging in place is a significant trend among homeowners nearing retirement.
Right sizing is a common consideration for empty nesters.
Designing homes for multi-generational living is increasingly popular.
Budgeting for renovations requires transparency and flexibility.
Quality products in home renovations lead to long-term satisfaction.
Investments in home renovations can enhance property value.
Understanding lifestyle needs is crucial in home design.
Choosing reputable contractors is essential for successful renovations.
Chapters
00:00 - Market Overview and Economic Insights
03:00 - Home Renovation Trends and Aging in Place
10:52 - Design Considerations for Multi-Generational Living
16:58 - Budgeting for Home Renovations and Investments
www.patrickmleonard.com
www.reluctantlypodcast.com
www.zoneonepodcast.com
#markettrends #homerenovation #aginginplace #multigenerationalliving #budgeting #investmentstrategies #retirementplanning #homedesign #economicoutlook #financialinsight

Is an AI Bubble responsible for market volatility? A deeper dive into the Federal Budget.- Nov 26 2025

Wed, 26 Nov 2025 05:00:00 -0000

Episode 23 of the Wealth Roundup, Terry Evans and Patrick Leonard discuss the current state of the markets as of November 26, 2025. They explore the recent fluctuations in equity markets, the impact of the U.S. government shutdown, the implications of the Canadian federal budget, and the developments in AI technology, particularly focusing on Nvidia's role in the market. The conversation highlights the uncertainty in the markets, the importance of earnings and fundamentals, and the potential risks associated with the AI boom.
Takeaways
The markets have been flat over the past month.
Uncertainty from the U.S. government shutdown is affecting market confidence.
The Canadian federal budget includes modest tax cuts and incentives for businesses.
AI developments are driving significant market changes, particularly with Nvidia.
Investors should focus on earnings and fundamentals for future market direction.
The potential for an AI bubble exists, but it's different from the dot com bubble.
Market reactions are influenced by missing data on inflation and jobs.
The importance of consumer adoption of AI technologies is crucial for market success.
Tariffs and trade issues continue to impact the Canadian economy.
The conversation emphasizes the need for strategic investment amidst market volatility.
Chapters
(00:00)-Market Overview and Recent Trends
(03:11)-Impact of Government Shutdowns on Markets
(06:23)-Canadian Federal Budget and Its Implications
(09:01)-AI and the Future of Technology Investments
www.patrickmleonard.com
www.reluctantlypodcast.com
www.zoneonepodcast.com
#markettrends #governmentshutdown #Canadianbudget #AI #AIdevelopments #investmentstrategies #aibubble #nvidia

Earnings and Capital Spending...who are the Winners and Losers ?- Nov 05 2025

Wed, 05 Nov 2025 05:00:00 -0000

Terry Evans and Patrick Leonard discuss the current state of the markets, recent earnings reports, the impact of AI on employment, and expectations for the upcoming federal budget. They analyze market trends, the relationship between earnings and stock performance, and the implications of AI on labor. The discussion also covers the anticipated budgetary measures and their potential effects on the economy.
Takeaways
The markets have been relatively flat with no significant catalysts recently.
Earnings season is crucial for understanding stock trajectories.
Oil and gas companies are facing compressed margins due to production costs.
AI investments are reshaping labor dynamics in major companies.
The upcoming federal budget is expected to include significant spending and cuts.
Chapters
00:00-Market Overview and Recent Trends
07:00-Impact of AI on Employment and Earnings
www.patrickmleonard.com
www.reluctantlypodcast.com
#markettrends #earningsseason #AIimpact #federalbudget #economicoutlook #investmentstrategies #interestrates #stockperformance #consumerspending #labormarket

Earnings and the Markets. Does my Portfolio need Alternative Equities ?- Oct 28 2025

Tue, 28 Oct 2025 04:00:00 -0000

In this episode of the Wealth Roundup, Terry Evans and Patrick Leonard discuss the current market landscape, focusing on the upcoming earnings season and the performance of major tech stocks. They delve into the concept of alternative investments with Duran Guest, exploring their definitions, risks, and the differences between private and public markets. The conversation highlights the importance of diversification and the evolving nature of investment strategies, particularly in the context of cryptocurrencies and accredited investors.
Takeaways
Earnings season is crucial for market performance.
Gold remains a strong investment despite fluctuations.
Alternative investments are becoming more accessible to retail investors.
Private markets offer significant opportunities for diversification.
Understanding the structure of alternative funds is essential.
Liquidity varies greatly between public and private investments.
Cryptocurrencies can be classified as alternative investments depending on their use.
Accredited investors are subject to specific eligibility criteria.
The landscape of public companies is shrinking, increasing interest in alternatives.
Investors should align alternative investments with their financial goals.
Chapters
(00:00)-Market Overview and Earnings Season Insights
(02:50)-Understanding Alternative Investments
(05:22)-Private vs Public Markets: Risks and Opportunities
(08:23)-Diversification and Cryptocurrency in Alternative Investments
(10:56)-Wrap-Up and Future Insights
www.patrickmleonard.com
www.reluctantlypodcast.com
www.zoneonepodcast.com
#marketoverview #earningsseason #alternativeinvestments #privatemarkets #publicmarkets #diversification #investmentstrategies #riskmanagement #financialinsights #wealthmanagement
#bitcoin

VIX and a Credit Squeeze ? - Oct 22 2025

Wed, 22 Oct 2025 04:00:00 -0000

In this episode of the Wealth Roundup, Terry Evans and Patrick Leonard discuss the recent volatility in the markets, including the recovery of U.S. equities and the performance of commodities like gold and Bitcoin. They delve into the VIX, a volatility index that measures market stress, and explore the implications of a potential credit crunch stemming from issues with U.S. lenders. The conversation highlights the interconnectedness of the banking system and the broader economic landscape, emphasizing the importance of monitoring earnings reports and market trends.
Takeaways
The U.S. market has largely recovered from recent sell-offs.
Gold and Bitcoin have reacted differently to market volatility.
The VIX is a tool to measure market stress and volatility.
A VIX level above 20 indicates heightened market concerns.
Recent news highlights issues with U.S. lenders and potential bankruptcies.
The interconnectedness of banks can lead to a credit crunch.
A credit crunch makes it harder for individuals to borrow money.
Investors are concerned about the market's future direction.
Earnings reports are crucial for understanding market trends.
Volatility, inflation, and trade wars are all interconnected.
Chapters
(00:00) Market Volatility Overview
(05:18) The Implications of a Credit Crunch
www.patrickmleonard.com
www.reluctantlypodcast.com
#marketvolatility #VIX #creditcrunch #investmentstrategies #economicoutlook #stockmarket #commodities #Bitcoin #financialnews #earningreport

Diversification, and some thoughts on Philanthropy Planning- Oct 15 2025

Wed, 15 Oct 2025 04:00:00 -0000

Terry Evans and Patrick Leonard discuss the current state of the markets, emphasizing the importance of diversification in investment strategies. They explore the concept of philanthropy, questioning whether it is only for the wealthy, and highlight the significance of estate planning in managing wealth effectively. The discussion provides insights into market fluctuations, investment approaches, and the personal nature of charitable giving.
Takeaways
The market experienced significant swings recently due to geopolitical tensions.
Diversification is crucial to mitigate risks in investment portfolios.
Investors should aim for an optimal portfolio that balances growth and volatility.
Philanthropy can be a personal choice, not limited to the wealthy.
Making donations while alive can provide immediate benefits and tax incentives.
Estate planning is essential to avoid burdening beneficiaries with taxes.
Family discussions about wealth distribution are important for clarity.
Smaller charitable foundations can have a significant impact over time.
Tax credits for charitable giving can vary significantly based on timing.
Specialized estate planning advice is crucial for effective wealth management.
Chapters
(00:00)-Market Movements and Economic Indicators
(04:32)-Understanding Diversification in Investment
(08:22)-Philanthropy: A Personal Choice for Everyone
(11:54)-Estate Planning and Its Importance
www.patrickmleonard.com
www.reluctantlypodcast.com
#marketanalysis #investmentstrategies #diversification #philanthropy #estateplanning #economicindicators #wealthmanagement #financialinsight #charitablegiving #taxbenefits

Taking Profits and Rebalancing to Objectives- Oct 08 2025

Wed, 08 Oct 2025 04:00:00 -0000

In this episode of The Wealth Roundup, Patrick Leonard discusses the current state of the markets amidst a government shutdown, the performance of Canadian equities despite economic indicators, and various factors influencing future economic trends. He emphasizes the importance of rebalancing investment portfolios and understanding the implications of inflation and interest rates on the economy.
Takeaways
The government shutdown has created uncertainty in the markets.
Gold and Bitcoin have shown significant price increases recently.
Canadian equities are performing well despite high unemployment rates.
The stock market can serve as a leading indicator of economic health.
Investors should consider rebalancing their portfolios during market highs.
Warren Buffett's advice highlights the challenge of timing the market.
Private sector job reports can provide insights when government data is unavailable.
Tariffs are contributing to ongoing inflation concerns.
Monitoring the bond market is crucial for understanding interest rates.
Economic indicators can sometimes mislead investors about future trends.
Chapters
00:00-Market Overview and Government Shutdown Impact
02:54-Canadian Economy vs. Stock Market Performance
05:54-Indicators for Future Economic Trends
www.patrickmleonard.com
www.reluctantlypodcast.com
#marketoverview #governmentshutdown #Canadianeconomy #stockmarketperformance #economicindicator #investmentstrategies #inflation #interestrates #jobreports #wealth

Government Shutdowns and "Is the Market Overvalued" - Oct 01 2025

Wed, 01 Oct 2025 04:00:00 -0000

In this episode of the Wealth Roundup, Patrick Leonard discusses the current state of the markets, including strong performance in the Canadian stock market and insights into gold and Bitcoin trends. They delve into the complexities of US government financial dynamics, including the implications of government shutdowns and debt ceilings. The conversation also covers stock market valuations, economic indicators, and the importance of earnings reports in assessing market health.
takeaways
The Canadian stock market has shown strong returns, close to 20%.
Gold prices are rising, with a year-to-date increase of 14%.
US interest rates are expected to decrease, impacting commodity prices positively.
The US government has funds available but requires cooperation for spending.
Stock market valuations are not an exact science and require context.
TD's stock is trading at a slight premium compared to historical averages.
The S&P 500 is currently trading at about 30 times earnings.
The Magnificent Seven tech stocks dominate the S&P 500 market cap.
More US companies are contributing to S&P 500 earnings, indicating broader market health.
Earnings reports are crucial for understanding market dynamics.
Chapters
(00:00)-Market Overview and Performance Insights
(02:48)-US Government Financial Dynamics
(05:19)-Stock Market Valuation and Investment Strategies
www.patrickmleonard.com
www.reluctantlypodcast.com
#marketperformance #USgovernment #stockvaluation #economicindicators #investmentinsights #Canadianmarket #goldprice #Bitcointrends #earningsreports

What Happened to Mortgage Rates ? Investment Option Income for Conservative Investors - Sep 24, 2025

Wed, 24 Sep 2025 04:00:00 -0000

In this episode of the Wealth Roundup, Terry Evans and Patrick Leonard discuss the recent performance of the TSX, the implications of interest rate changes by the Bank of Canada, and strategies for conservative investors looking to generate retirement income. They explore the current market trends, the impact of inflation and unemployment on interest rates, and the importance of liquidity and credit quality for conservative investors. The conversation also highlights the shift from traditional savings bonds to guaranteed investment certificates and the growing popularity of target date exchange traded funds as a viable investment option.
Takeaways
The TSX has shown significant growth recently, up 12.5%.
Market trends reflect individual stock performances rather than a blanket statement about all companies.
The Bank of Canada is focused on inflation and employment rates when adjusting interest rates.
A quarter-point decrease in interest rates affects variable rate mortgages positively.
Conservative investors face challenges due to low yields and interest rates.
Canada savings bonds are no longer available since 2017.
Canadian deposit insurance protects deposits up to $100,000.
Bonds offer more frequent income payments compared to term deposits.
Target date ETFs provide a structured investment option for conservative investors.
There is a growing marketplace for conservative investment strategies.
Chapters
(00:00) Market Overview and Recent Trends
(02:57) Impact of Interest Rates on the Economy
(06:01) Strategies for Conservative Investors
(11:46) Looking Ahead: Future Investment Strategies
#markettrends #interestrates #retirementincome #conservativeinvesting #Canadianeconomy #TSX #mortgages #investmentstrategies #bondmarket #financialinsight
www.patrickmleonard.com
www.reluctantlypodcast.com

Solutions to Create More Income From My Investments

Wed, 17 Sep 2025 04:00:00 -0000

-Update on Markets
-Nation Building Projects announced by Carney … Any impact to Canadian Equity Markets?
-How to take an income from my investments? In this episode of the Wealth Roundup for the week of September 17/25, Patrick Leonard discusses the current economic landscape, focusing on inflation rates, employment statistics, and government initiatives aimed at housing. He delves into the implications of these factors on the Canadian market and explore strategies for retirement planning, emphasizing the importance of passive income and innovative investment products like covered calls.
Takeaways
The Canadian CPI numbers indicate a year-on-year inflation rate of 3.1%.
High unemployment rates in Canada, particularly among young workers, are concerning.
Government spending on housing projects may not significantly impact the market.
Investors should be cautious about government announcements and their market implications.
De-accumulating capital for retirement can be challenging for many individuals.
Finding sources of passive income is crucial for investors of all risk levels.
Canadian dividend stocks offer attractive yields compared to traditional fixed-income investments.
Covered call ETFs can enhance income for investors seeking higher yields.
Options in the market often expire worthless, which is a common characteristic of trading.
Investing should focus on making money work for you, even while you sleep.
Chapters
(00:00)-Market Overview and Economic Indicators
(04:17)-Government Initiatives and Their Market Impact
(09:01)-Retirement Planning and Income Strategies
#WealthRoundup #inflation #interestrates #Canadianeconomy #retirementplanning #investmentstrategies #passiveincome #coveredcalls #marketanalysis #governmentspending

Investing in the Canadian Banks

Tue, 09 Sep 2025 04:00:00 -0000

In this episode of the Wealth Roundup, Patrick Leonard discusses the current state of the financial markets, the implications of interest rates on mortgages, and investment opportunities in Canadian banks and the insurance sector. The conversation highlights the importance of upcoming economic data, the potential for a Fed rate cut, and the stability of banks as investments amidst a changing economic landscape.
Takeaways
Markets have shown a positive trend this year, especially after a tough start.
Upcoming US data on inflation and jobs will be crucial.
A Fed rate cut is anticipated, likely around a quarter point.
The Canadian economy is facing challenges with high unemployment rates.
Interest rates in Canada may not see cuts until next year.
The banks have been stable investments, providing dividends.
Canadian banks are showing signs of recovery in earnings.
The insurance sector is becoming more significant in wealth management.
Investors should consider both traditional and new investment opportunities.
The overall health of the economy is reflected in bank performance.
Chapters
00:00-Market Overview and Economic Outlook
06:0-Interest Rates and Mortgage Trends
10:00-Investment Opportunities in Banking and Insurance

Fees…what am I paying and what is CRM 3?

Tue, 02 Sep 2025 04:00:00 -0000

In this episode of the Wealth Roundup, Patrick Leonard discusses the current state of the markets, including notable trends in the Dow, S&P, gold, and Bitcoin. He emphasizes the importance of understanding investment management fees, especially with upcoming regulatory changes aimed at increasing transparency. The conversation highlights the complexities of the investment industry and the need for clear communication between investors and their advisors.
Takeaways
The Dow and S&P have seen significant growth recently.
Gold and Bitcoin have stabilized after fluctuations.
Understanding how fees are structured is crucial for investors.
Investment firms will soon provide total cost accounting for transparency.
Clients should regularly assess their investment performance and fees.
The investment industry is largely self-regulated with a focus on transparency.
Regulatory changes aim to clarify hidden fees in investments.
Investing has become more complex over the years.
Communication between clients and advisors is essential.
Fees in the investment industry are expected to trend down.
Chapters
(00:00)-Market Overview and Trends
(01:52)-Understanding Investment Management Fees
(05:30)-Regulatory Changes and Transparency in Investing
#investment #markettrends #managementfees #regulatorychanges #transparency #financialplanning #Canadianfinancialsystem #investmentstrategies #portfoliomanagement #wealthadvisorybycimbthaibank
www.patrickmleonard.com
www.reluctandlypodcast.com

Why is US Inflation Important to Canadian Investors?

Tue, 12 Aug 2025 04:00:00 -0000

In this episode of the Wealth Roundup, Terry Evans and Patrick Leonard discuss the current state of the markets, focusing on job data, interest rates, inflation, and the impact of tariffs on trade. They explore Canada's position as an energy superpower and the potential for growth in the energy sector, particularly in light of increasing demand from the United States.
Takeaways
The markets have shown mixed signals with recent job data.
US job numbers are tight, but inflation is a concern.
Interest rates in the US are higher than in Canada, affecting trade dynamics.
Tariffs are seen as a tax on consumption, impacting businesses.
Canada has significant energy resources, particularly in crude and natural gas.
The US is heavily reliant on Canadian energy exports.
Future energy demands in the US are expected to rise significantly.
Canadian utility companies are expanding their reach globally.
LNG exports from Canada are gaining traction in international markets.
Canada's energy sector could be a key bargaining chip in trade negotiations.
titles
Navigating Market Trends: Insights from August 2025
Understanding Job Data and Its Market Impact
Chapters
(00:00)-Market Overview and Job Data Impact
(02:38)-Interest Rates and Inflation Dynamics
(05:16)-Canada's Energy Superpower Potential
(07:33)-The Future of Energy and Infrastructure
(10:27)-Conclusion and Final Thoughts
#marketoverview #jobdata #interestrates #inflation #tariffs #Canadaenergy #tradeagreements #economicinsights
www.patrickmleonard.com
www.reluctantlypodcast.com

Estate Planning Including Wills and Power of Attorney

Wed, 30 Jul 2025 04:00:00 -0000

Patrick Leonard discusses the critical aspects of estate planning, including the importance of wills, powers of attorney, and trusts. He emphasizes the need for clear communication with family members regarding estate wishes and the potential tax benefits of charitable contributions. The conversation highlights the complexities of estate planning and the necessity of having these discussions early and often.
Takeaways
Estate planning is a significant part of financial planning.
Wills must be legally drafted and clearly identify beneficiaries.
Conversations about estate plans should involve family members.
Powers of attorney are essential for managing affairs when incapacitated.
Trusts can protect assets for beneficiaries with special needs.
Charitable contributions can provide tax benefits before death.
Estate planning should be revisited after major life events.
It's important to document wishes to avoid family disputes.
Understanding the legal requirements for wills is crucial.
Estate planning is a continuous process, not a one-time event.
Chapters
(00:00)-Introduction to Estate Planning
(01:37)-Understanding Wills and Their Importance
05:55)-Power of Attorney and Living Wills
(09:30)-Trusts and Their Role in Estate Planning
#estateplanning #wills #powerofattorney #trusts #financialplanning #legacy #philanthropy #familydynamics #taximplications #estatemanagement
www.patrickmleonard.com
www.reluctantlypodcast.com

Disruptive Technologies and Investment Themes

Wed, 23 Jul 2025 04:00:00 -0000

Terry Evans and Patrick Leonard discuss the mid-year market outlook, highlighting the performance of various markets and the impact of interest rates. They delve into disruptive technologies and their potential as investment opportunities, particularly focusing on artificial intelligence and its implications for the future of investing. The discussion emphasizes the importance of education and caution in investment decisions.
Takeaways
The market has rallied significantly since mid-April.
Bonds have underperformed expectations this year.
Disruptive technologies can serve as catalysts for investment.
Artificial intelligence is a key area for future investment.
Investors should consider the long-term implications of technology.
Nuclear energy is being reconsidered as a viable option.
Education and research are crucial for making informed investments.
Investing in utilities can be a strategic move for AI growth.
Caution is advised when following investment trends from friends.
Understanding macroeconomic factors is essential for investors.
Chapters
(00:00)-Mid-Year Market Outlook
(04:47)-Artificial Intelligence as an Investable Idea
#marketoutlook #disruptivetechnologies #investmentstrategies #artificialintelligence #economictrends #wealthmanagement #stockmarket #interestrates #technologyinvestments
www.patrickmleonard.com
www.reluctantlypodcast.com

Dividend Income and Financial Fraud

Wed, 16 Jul 2025 04:00:00 -0000

Patrick Leonard discusses the latest trends in the financial markets, including the rise of Bitcoin and the importance of dividend income. He also emphasizes the need for cybersecurity in managing personal finances, providing insights on how to protect oneself from identity theft and fraud.
Takeaways
Bitcoin's recent surge to $120,000 Canadian is significant.
US markets are showing impressive mid-single digit returns year to date.
Dividend income is a crucial aspect of investment strategy.
Dividends indicate a company's profitability and future potential.
Investors should be cautious of artificially high dividends.
Cybersecurity threats are increasingly common in finance.
Protecting personal information is essential in today's digital age.
Credit monitoring services can help safeguard against identity theft.
Never share sensitive information over the phone or email.
Awareness of scams is vital, especially for vulnerable populations.
Chapters
(00:00)-Market Overview and Recent Trends
(03:35)-Understanding Dividend Income
(07:01)-Cybersecurity in Finance
www.patrickmleonard.com
www.reluctantlypodcast.com
@reluctantlypodcast
#markettrends #dividendincome #cybersecurity #investmentstrategies #Bitcoin #inflation

Opportunities in Infrastructure

Wed, 25 Jun 2025 04:00:00 -0000

Patrick Leonard from the Leonard Wealth Advisory Group discusses current market trends, infrastructure investment opportunities in Canada, and the intricacies of social security and retirement planning. The discussion highlights the resilience of the markets amidst geopolitical events, the potential for increased infrastructure spending due to new government initiatives, and the importance of understanding the differences between various retirement income programs in Canada.
Takeaways
The market is currently resilient despite geopolitical tensions.
Infrastructure investment is expected to increase in Canada.
Bill C-5 aims to remove trade barriers and boost infrastructure projects.
Old Age Security and Canada Pension Plan are different programs.
Tax-free savings accounts can help shelter income from taxes.
Deferring retirement benefits can be a strategic choice.
Investors should consider the economic viability of infrastructure projects.
The aging population raises concerns about social security sustainability.
Understanding income sources is crucial for retirement planning.
Working with a wealth management expert can optimize financial strategies.
Chapters
00:00-Market Overview and Current Trends
07:13-Infrastructure Investment Opportunities in Canada
12:12-Understanding Social Security and Retirement Planning
www.patrickmleonard.com
www.reluctantlypodcast.com
#markettrends #infrastructureinvestment #socialsecurity #retirementplanning #economicoutlook #Canada #wealthmanagement #investmentstrategies #financialinsight #economicindicators

Do I have enough saved for Retirement?

Mon, 16 Jun 2025 22:00:00 -0000

Patrick Leonard discusses the current state of the markets, the impact of geopolitical events on investments, and how these factors influence retirement planning. They explore the short-term effects of geopolitical tensions, the importance of fundamentals in driving market trends, and provide insights into the 4% rule for retirement savings. The conversation emphasizes the need for a detailed retirement plan that considers various financial elements.
Takeaways
The markets have shown a steady rise, with some fluctuations due to geopolitical events.
Geopolitical events can lead to increased oil prices and a decline in stock markets.
Retail investors often react more to geopolitical events than institutional investors.
Market momentum can be affected by a lack of demand during uncertain times.
Fundamentals such as earnings and profits are crucial for stock performance.
Geopolitical events are typically short-term, while macroeconomic events have longer-lasting impacts.
Retirement planning should consider potential market downturns and economic cycles.
The 4% rule provides a simple method for estimating retirement income needs.
Investors should customize their retirement plans based on individual circumstances and historical returns.
A comprehensive retirement plan should account for taxes and various asset types.
Chapters
(00:00)-Market Overview and Geopolitical Events
(09:01)-Retirement Planning and the 4% Rule
www.patrickmleonard.com
www.reluctantlypodcast.com
#markets #geopoliticalevents #retirementplanning #investmentstrategies #economictrends #stockmarket #safehavenassets #4%rule #wealthmanagement

Saving for Post Secondary Education

Tue, 10 Jun 2025 04:00:00 -0000

In this episode of the Wealth Roundup, Terry Evans and Patrick Leonard discuss the recent market reactions to events in the U.S., the evolving landscape of cryptocurrency with a focus on Bitcoin, and strategies for saving for college through Registered Education Savings Plans (RESPs). They explore how trade news impacts market movements, the potential of Bitcoin as a digital asset akin to gold, and the importance of planning for educational expenses in a rising cost environment.
Takeaways
Markets reacted minimally to recent U.S. events, focusing on trade news.
Bitcoin's status as digital gold is gaining traction.
Institutional interest in Bitcoin is increasing.
The finite supply of Bitcoin may enhance its value.
Education savings plans are crucial for college funding.
RESPs offer tax advantages for education savings.
Student loans can be interest-free while studying.
The cost of education continues to rise.
Understanding cryptocurrency is essential for investors.
Planning for future expenses is vital in today's economy.
Chapters
(00:00)-Market Reactions to Recent Events
(09:31)-Understanding Bitcoin as Digital Gold
(10:43)-Saving for College: RESP Insights
Visit www.patrickmleonard.com for more
The Wealth Round Up is part of
The Reluctantly Podcast Network
www.reluctantlypodcast.com
#bitcoin #savingmoney #todaysmarkets #cryptocurrency #elonmusk #trump #markets #digitalgold #educationsavings #RESP #inflation #tradenews #investmentstrategies

Reviewing your Beneficiaries

Tue, 03 Jun 2025 04:00:00 -0000

Patrick Leonard discusses the current state of the markets, the implications of government spending, and the importance of reviewing beneficiaries in financial planning. They highlight the recent market recovery, the potential impact of new government budgets on fiscal responsibility, and the necessity of ensuring that beneficiary designations are up-to-date to avoid negative outcomes for families.
Takeaways
Markets are showing a recovery with a 10-15% increase year-over-year.
Investors should feel good if they stayed fully invested despite volatility.
Government spending can lead to inflation and increased debt.
It's crucial to scrutinize the economic benefits of government spending.
Reviewing beneficiaries is essential after life events or account changes.
Beneficiary designations can differ from will instructions, leading to complications.
Tax-free savings accounts have unique beneficiary rules that can save costs.
Proper planning can prevent unnecessary probate costs for estates.
The new government budget may lead to significant spending and debt.
Investors should monitor their statements for signs of market trends.
titles
Navigating Market Trends and Government Spending
Understanding the Importance of Beneficiary Reviews
Sound Bites
"Fiscal spending is inflationary"
"Not having the proper beneficiary had a negative outcome"
"A specialized beneficiary for tax-free savings accounts"
Chapters
(00:00)-Market Overview and Performance
(05:28)-The Importance of Reviewing Beneficiaries
www.patrickmleonard.com
www.reluctantlypodcast.com
#markettrends, #governmentspending, #fiscalresponsibility, #beneficiaries, #investment, #financialplanning, #wealthmanagement, #economicoutlook, #inflation, #debtmanagement

First Home Saving Account

Wed, 28 May 2025 04:00:00 -0000

Terry Evans and Patrick Leonard discuss the pressing issue of home affordability in Canada, particularly focusing on the newly introduced First Home Savings Account designed to assist first-time home buyers. They explore the features and benefits of this account, including tax advantages and contribution limits. The conversation then shifts to current market trends, including recent fluctuations in the US and Canadian markets, inflation rates, and expectations for future interest rates.
Takeaways
The First Home Savings Account is a new initiative in Canada.
It allows first-time home buyers to save $8,000 per year tax-free.
The account can help buyers accumulate a down payment more easily.
Home prices in cities like Toronto and Vancouver are significantly high.
The program offers tax deferral benefits similar to RRSPs.
If the funds are not used for a home, they can be transferred to an RRSP.
The Canadian market is currently performing well despite US market fluctuations.
Inflation rates are showing mixed signals, affecting interest rate decisions.
The Bank of Canada is cautious about lowering rates too soon.
Understanding market trends is crucial for investment strategies.
Chapters
00:00-Navigating Home Affordability Challenges
07:26-Market Trends and Economic Insights
#homeaffordability #firsthomesavingsaccount #Canadianrealestate #markettrends #inflation #investmentstrategies
www.patrickmleonard.com
www.reluctantlypodcast.com

Investment Products and Considerations

Wed, 21 May 2025 04:00:00 -0000

Terry Evans and Patrick Leonard discuss the current state of the markets, focusing on inflation trends, investment strategies, and seasonal considerations for wealth management. They highlight the recent decrease in inflation, the positive performance of US and Canadian stocks, and the emergence of new investment products, particularly in private equity and alternative investments. The discussion also touches on the changing landscape of vacation property investments and currency considerations as summer approaches.
Takeaways
Inflation decreased from March to April, indicating market stabilization.
US and Canadian stocks have shown positive trends for five consecutive weeks.
Walmart's price increase warning reflects broader economic concerns.
New investment products are emerging to meet changing investor needs.
Private equity is becoming more accessible to retail investors.
The Canada Pension Plan has shifted towards private investments for growth.
Canadians are reconsidering vacation properties in light of economic changes.
Currency exchange rates are expected to shift, impacting investment decisions.
Investors should consider Canadian properties for better value.
Wealth management strategies are evolving to include diverse investment options.
Chapters
(00:00)-Market Overview and Inflation Insights
(02:57)-Investment Products and Strategies
(05:52)-Seasonal Investment Considerations and Currency Trends
#markettrends #inflation #investment products #privateequity #seasonalinvestments #wealthmanagement #currencyexchange #vacationproperties #economicoutlook
www.patrickmleonard.com
www.reluctantlypodcast.com

Rates and CPP

Wed, 14 May 2025 04:00:00 -0000

In this episode of the Wealth Roundup, Patrick Leonard discusses the recent recovery in the markets, the role of retail investors, and the outlook for interest rates from the Bank of Canada. He also provides insights on retirement benefits decisions, particularly regarding the Canada Pension Plan and Old Age Security, emphasizing the importance of individual circumstances in making these choices.
Takeaways
Another strong week in the markets indicates recovery.
Retail investors are leading the market dip buying.
Institutional investors are cautious due to old data.
The Bank of Canada monitors inflation and job market closely.
Interest rate cuts are expected, depending on inflation trends.
Mortgage renewals are increasing due to past low rates.
Deciding on pension plans depends on health and financial needs.
Deferring pension can lead to higher lifetime benefits.
Break-even age for pension decisions is around 74.
Health and financial necessity are key in pension decisions.
Chapters
00:00-Market Recovery Insights
03:07-Bank of Canada Interest Rate Outlook
06:01-Navigating Retirement Benefits
www.patrickmleonard.com
www.reluctantlypodcast.com
#marketrecovery #interestrates #BankofCanada #retirementplanning #investmentstrategies, #mortgagerenewals #economicstability #inflation #pensionplans

Tax Time, Financial Reflection and Goal Setting

Mon, 05 May 2025 04:00:00 -0000

In this episode of the Wealth Roundup, Patrick Leonard discusses the impact of political changes on market volatility, particularly in the first 100 days of the new US presidency. He highlights the performance of the S&P 500 and the Toronto Stock Exchange, as well as the implications of fluctuating oil prices. The conversation shifts to the Canadian economy under new leadership, focusing on the challenges and opportunities presented by the new prime minister. Finally, Leonard offers practical financial planning advice for Canadians, emphasizing the importance of tax time as a moment for financial reflection and goal setting.
Takeaways
The first 100 days of the new US presidency have been chaotic.
Market volatility has seen significant fluctuations recently.
The S&P 500 is down about 3.5% year-to-date.
The TSX has performed better than the US market this year.
Oil prices are significantly lower than their highs.
The differential between oil prices is crucial for Canadian producers.
The new Canadian prime minister has a financial background.
Housing affordability is a major challenge in Canada.
Tax time is an opportunity for financial spring cleaning.
Canadians should focus on better record-keeping and savings strategies.
Chapters
(00:00)-Market Volatility and Political Impact
(09:20)-Financial Planning for Canadians
www.patrickmleonard.com
www.reluctantlypodcast.com