Veteran investor Ross Healy has been navigating markets for 60 years — and right now, he’s sounding the alarm. In this episode of In the Money with Amber Kanwar, Ross explains why he believes U.S. stocks are dangerously overvalued and could be facing a major correction. He draws unsettling parallels to past bubbles, including the 2000 tech crash, and warns that the S&P 500 could fall by more than 50% as valuations snap back to reality. Despite the looming risks, Ross is far from sitting on the sidelines.

Ross fields questions from viewers on a wide range of names, including the Canadian telecom stocks, Shopify (SHOP.TO), Lululemon (LULU), Power Corp (POW.TO), and Algoma Steel (ASTL.TO). He explains why he thinks BCE and TELUS (T.TO) face serious headwinds, why Rogers (RCI.B.TO) stands out as a safer bet, and why Shopify’s sky-high valuation just doesn’t justify the return. He remains fully committed to gold, noting that while Canadian investors are already on board, the real upside will come when American investors begin piling in. 

When it comes to his Pro Picks, Ross names three stocks he’s buying right now. He’s bullish on Fortuna Mining (FVI.TO), a gold-focused producer he believes is still undervalued despite its recent run. He sees big turnaround potential in Laurentian Bank (LB.TO), which is trading at multi-decade lows. And for portfolio stability, he likes Atco (ACO-X.TO), a utility stock with a solid balance sheet, steady dividend, and long-term upside.

If you're trying to make sense of today’s overheated markets — and want to know where a market veteran is actually putting his money — this is a conversation you don’t want to miss.

Timestamps

00:00 Show Intro
01:45 Ross Healy talks about his 60 years in the investment industry 

03:00 Ross’s view on why markets are shaking off tariffs
05:35 Why Ross thinks markets are too excited about artificial intelligence and its economics
08:45 Why Ross is very concerned about U.S. stocks and specifically the Magnificent 7 stocks
14:00 Why believes the solvency of the U.S. economy is a major problem and tells us why
18:30 Why this time is like the dot com bubble and how Ross called the bottom
20:35 Ross thinks the S&P 500 could drop more than 50%
23:00 ITM Mailbag: Why Ross is very bullish on gold and precious metals
27:00 Why Ross thinks there’s upside for the TSX because of the index’s weight in commodities

29:00 Why Ross likes nat gas stocks
30:26 Ross’s hot take on Parkland (PKI.TO)
33:00 Ross’s take on BCE & Rogers (BCE.TO, RCI.B.TO) 

36:30 Why he views Telus (T.TO) as something in between BCE & Rogers
39:30 Why Ross likes Power Corp. (POW.TO)
44:25 Ross’s take on Algoma Steel (ASTL.TO)
47:00 Why Ross would take a run at Lululemon (LULU)
50:00 Ross can’t forget about Shopify’s sky-high valuation
52:30: Pro Picks
1:05:40 Goodbye & coming up 

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

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DISCLAIMERS 

The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice.The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.

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The opinions and views expressed in this presentation are those of the presenter and not necessarily BMO InvestorLine Inc. This presentation is prepared as a general source of information and is not intended to provide legal, investment, accounting or tax advice, and should not be relied upon in that regard. If legal or investment advice or other professional assistance is needed, the services of a competent professional should be obtained. Any information contained in this presentation does not constitute and shall not be deemed to constitute advice, an offer to sell/purchase or as an invitation or solicitation to do so for any entity. The content of this presentation is based on sources believed to be reliable, but its accuracy cannot be guaranteed. BMO InvestorLine Inc. and its affiliates, sponsors and employees do not accept responsibility for the content and makes no representation as to the accuracy, completeness or reliability of the content and hereby disclaims any liability with regards to the same.

In the Money delivers expert stock picks, market analysis, and timely investing insights. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers and financial experts. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.

Contact: [email protected]

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