AI is forcing investors to rethink one of the most time-tested strategies in the market—and it could have major implications for how you build your portfolio. On this episode of In the Money with Amber Kanwar, Dan Rohinton, Portfolio Manager at iA Global Asset Management, makes the case that the traditional buy-and-hold approach is no longer as reliable in a world where artificial intelligence is accelerating disruption across nearly every industry.

Rohinton explains why the AI supercycle is simultaneously creating massive opportunity while eroding the durability of long-standing business models—from software and consulting to telecom and consumer staples. He argues that “there are no sacred cows anymore,” with faster innovation cycles forcing investors to be more dynamic and shorten their time horizons. At the same time, he remains broadly bullish on the economic upside of AI, calling it one of the most profound technological shifts since the internet, with the potential to unlock productivity and reshape global growth.

In the Mailbag, Rohinton tackles some of the most debated stocks in the market today, including Constellation Software (CSU.TO), WSP Global (WSP.TO), Blackstone (BX), Apple (AAPL), LVMH (MC.PA), and General Mills (GIS). He explains why many of these companies can still work tactically in the short term, even as AI introduces long-term risks to their business models—helping explain why some stocks are falling despite strong earnings.

In Pro Picks, Rohinton first revisits his past ideas from his last appearance—Alphabet (GOOGL), Amazon (AMZN), and Microsoft (MSFT)—and explains why his conviction has evolved as the AI landscape shifts. While he’s still constructive, he’s more measured on Alphabet, remains bullish on Amazon as a core AI infrastructure play, and is doubling down on Microsoft (MSFT) as his top idea today given its scale and positioning despite near-term concerns. He also adds Meta Platforms (META), highlighting its massive AI investment and upside if spending translates into productivity gains, and Visa (V) as a more defensive compounder with optionality tied to increasing payment volumes in an AI-driven economy.

Timestamps
00:00 Trailer 

02:30 Show intro
03:30 Political uncertainty is something we need to get used to 

05:30 AI agnostic to what’s going on in geopolitics 

07:30 Keep an open mind but Dan universally bullish on AI 

10:00 Where do you go for defence? There’s nothing truly defensive anymore
13:00 What’s happening is the diffusion of tech into every sector
15:50 Buy and Hold is changing because of AI
19:20 This is a time for extreme thinking
22:20: Hamilton ETFs:
24:30 ITM Mailbag: Constellation Software stock(CSU)
32:30 WSP Global stock(WSP)  

37:30 Blackstone stock(BX)
39:45 Apple stock (AAPL)
43:00 LVMH stock (MC)
46:20 General Mills stock (GIS) 

49:20 Past & Pro Picks (GOOG, AMZN, MSFT, META, V)

Sponsors

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

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

The mailbag is sponsored by Hamilton ETFs. For more information on the Hamilton Enhanced Mixed Asset Allocation ETF visit:  https://hamiltonetfs.com/etf/mix/ 

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