FidelityConnects

A surprise production cut from OPEC+ earlier this month has rocked oil markets. The price of oil rallied following the announcement but have since stabilized as inflation concerns linger. All of this unfolding as the U.S. continues to shift towards cleaner and more sustainable forms of energy. How much of an impact will the OPEC cuts have on energy and overall inflation? And where can investors find opportunity within the sector? Paul Gooden, Senior Research Analyst, joins us today to discuss the latest trends in the U.S. energy sector, including his investment thesis for the months ahead. Paul explains the “energy trilemma” framework of balancing affordability, sustainability and reliability, to host Pamela Ritchie today. Without managing all three, Paul says, you get unintended consequences, like coal demand being at an all-time high today. He also notes the energy transition is still in the first innings, with peak oil demand not forecasted until the 2030s or later. CapEx on oil and gas is 70% below its 2014 peak and Paul sees opportunities for more CapEx in oil field services, as well as opportunities in the clean energy space if we are disciplined as investors.

Recorded on April 19, 2023.

At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.

For the second year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2022 Environics’ Advisor Digital Experience Study.

Statistics Canada has reported that the annual inflation rate slowed to 4.3% in March. This is the lowest level since August 2021, and off the highs of February’s 5.2%. Does this latest data support the Bank of Canada’s decision to pause? And what does it mean for interest rates, and the real economy moving forward? Institutional portfolio manager Ilan Kolet is today’s guest, sharing his outlook on inflation and what he’s optimistic about in the months ahead. With host Pamela Ritchie, Ilan provides a deep dive into the key points explored in the Global Asset Allocation team’s recent white paper, which includes a look at where inflation is now, and where is it likely heading. This in the context of central bank policy. Ilan also explains why the team doesn’t believe that rate decreases are on the horizon. We’ll also hear Ilan’s thoughts on the labour market, opportunities in emerging markets, the role of currencies in asset allocation, and much more on today’s show.

Recorded on April 18, 2023.

At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.

For the second year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2022 Environics’ Advisor Digital Experience Study.

Earnings season is in full swing, and eyes are on the big banks to see how much of an impact, if any, the SVB chaos has had on the sector. What are some of the big movers to watch out for in the near future? And why is today’s guest putting a soft-landing on the table? Joining us today to unpack the latest market action is Jurrien Timmer, Director of Global Macro. With host Pamela Ritchie today, Jurrien shares that the interest rate picture is not hurting the economy, but it's hurting what seems like isolated pockets of the economy We are still making new all-time highs with revenues in a very steady way, with the caveat that inflation is eroding those nominal numbers. We’ll also hear from Jurrien with additional thoughts on the Federal Reserve, commercial real estate, smaller banks, gold, bitcoin, and more. Per usual, Jurrien will be sharing charts so please head to @TimmerFidelity on Twitter to follow along.

Recorded on April 17, 2023.

At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.

For the second year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2022 Environics’ Advisor Digital Experience Study.

Host Pamela Ritchie joins Fidelity Director of Research Reetu Kumra, and equity research analysts Nic Bellemare and Connor MacGrath as they discuss how the research team operates and what sectors Nic and Connor cover. The research team is collaborative-based and is made up of nine analysts with each team member covering 25 stocks. Reetu credits the strength of the team to Fidelity’s global reach and deep knowledge of various sectors of the market. Among many topics, the team discusses the recent fallout of US regional banks including SVP and Signature Bank. Nic Bellemare who covers Canadian banks says although he stayed on-top of the banking news out of the US at that time, it did not have a significant impact on his sectors and research. He says Canadian banks work on different regulations than the US banks in terms of asset liability matches and diversified deposit bases. Connor MacGrath who covers insurance companies says he was following the US banking news closely too and at that time continued to focus on researching balance sheets and investment book exposure on insurance companies.

Recorded on April 14, 2023.

At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.

For the second year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2022 Environics’ Advisor Digital Experience Study.

Monetary policy is not done. That is the key takeaway from the April 12th Bank of Canada press conference following their decision to hold its key interest rate at 4.5%. This is the second consecutive pause for the Bank of Canada, and if you’re in the camp that’s hoping for, or projecting a rate cut later this year, Governor Tiff Macklem swiftly squashed that idea saying, that it “doesn’t look like the most likely scenario.” Joining us today to unpack what the latest Bank of Canada decision means for growth, housing, and the real economy is renowned economist Don Drummond. Don has held several senior roles at the Federal Department of Finance where he was responsible for economic analysis, fiscal and tax policies. He later served as Senior Vice President and Chief Economist at TD Bank, and is currently Fellow-in-Residence at the C.D. Howe Institute. Don speaks with host Pamela Ritchie today, and he is not surprised by the Bank of Canada’s decision, since they’re far from getting inflation down to 2%. However, he says “pleasantly surprised” they communicated that further hikes are a possibility in the future, and put an end to the speculation that cuts could be coming in 2023. We also hear today from Don that globalisation, including companies lowering costs by moving production overseas, allowed us to keep inflation low with strong growth in the past, but a lot of that has run its course for the moment. Don believes 1.5-1.7% is a reasonable sustainable long-term growth rate.

Recorded on April 13, 2023.

At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.

For the second year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2022 Environics’ Advisor Digital Experience Study.

Today we put the spotlight on the new First Home Savings Account - a new investment vehicle for Canadians looking to purchase their first-time home. Buying a home can be a challenge for many first-time home buyers especially in today’s environment, but this new registered account allows you to save up to 40-thousand dollars tax-free towards the purchase of your first home. Host Kathryn Black sits down with Fidelity Canada’s tax and retirement experts Peter Bowen and Michelle Munro to talk about what criteria and eligibility is involved in the FHSA. They also lay out different scenarios and investment strategies to consider when looking at the FHSA and how it could be used alongside other investment vehicles like a TFSA and RRSP.Recorded on April 11, 2023.At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.

For the second year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2022 Environics’ Advisor Digital Experience Study.

Inflation, energy, and tech continue to dominate headlines. The latest U.S. jobs report came in softer than expected, with many economists seeing March's jobs data as the beginning of a slower growth period. Our guest today is Denise Chisholm, Director of Quantitative Market Strategy, who will share her current market thesis, including which sectors she believes are in a pull position. Denise is a firm believer in historic probability analysis, and with host Pamela Ritchie today she’ll unpack the key market indicators that could indicate the overall health and direction of the markets.

Recorded on April 11, 2023.

At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.

For the second year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2022 Environics’ Advisor Digital Experience Study.

Risk assets bounced back in the first quarter of 2023 - but returns did not come without volatility. Equity markets seem to be leaning more towards an easing scenario later in the year, whereas rate markets are more skeptical around the path forward. This continued uncertainty has encouraged investors to seek out new forms of diversification and strategies which are better equipped to navigate a potentially bumpy road. Joining us today to talk about one of Fidelity Canada’s equity long/short offerings is David Way, portfolio manager of Fidelity Long/Short Alternative Fund. David joins host Rory Poole, Director, Alternatives, and shares that the two sleeves (long and short) come together to generate a portfolio that really does not rely on the use of additional leverage. The fund does not contain any financial leverage beyond what's generated by shorting stocks, generating cash, and investing more in Fidelity's best long ideas. David focuses on opportunities where he feels there is material mispricing because of the uncertainty in the market. Also, he is valuation sensitive, but willing to invest in companies at higher valuations if they show strong and durable growth.

Recorded on April 6, 2023.

At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.

For the second year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2022 Environics’ Advisor Digital Experience Study.

Andrew Marchese is today’s FidelityConnects podcast guest. Andrew is Fidelity Canada’s Chief Investment Officer and manages several funds including Canadian Systematic Equity, Canadian Disciplined Equity, and Canadian Core Equity for investors.  Andrew talks to host Bryan Borzykowski about the latest factors weighing on the markets and how he’s navigating current investment hurdles. He says most of his portfolios look pretty much the same as they did twelve months ago, but he continues to look for companies that have healthy balance sheets. For him, it’s about picking your price and then patiently waiting. He also discusses inflation, real estate, and how the Fed could navigate markets from this point forward.

Recorded on April 5, 2023. 

At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.

For the second year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2022 Environics’ Advisor Digital Experience Study.

Artificial Intelligence, or AI, is rapidly transforming the world we live in. Today, AI is being used in financial markets in various ways including trading, risk management, and fraud detection. How is this innovative technology being applied elsewhere and is it an investable theme? And why is our next guest keeping a close eye on its latest developments? Portfolio manager Mark Schmehl joins us today to share his perspective on this and more, including global markets and the trends influencing his fund positioning. Mark was recently featured in a Morningstar article, highlighting how his keen intuition and unwavering momentum have been the driving forces behind his ability to generate long-term positive returns. Mark speaks with Glen Davidson, VP Regional Sales Ontario, and shares he is reasonably confident the economy's going to come through the recent turmoil in a relatively quick timeframe, and it's not going to be that painful which is why we’re seeing technology rally of late. Mark also notes that when the world economy slows down, the US dollar goes up and he thinks that's something that we can expect again. Among other topics, Mark shares his thoughts on consumer discretionary, and energy, and notes he’s been cautiously optimistic and semi-offensive, he’s looking for the rebound, not playing defensive.

Recorded on April 4, 2023.

At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.

For the second year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2022 Environics’ Advisor Digital Experience Study.