Brian Belski told a room full of Canadian advisors to lighten up on gold in February. They weren't happy about it. Not the popular view at the time.

That's Brian Belski in a nutshell — 36 years in the markets, built his reputation going the other way when everyone else is piling in, and he's not about to stop now. In this episode, host Pierre Daillie sits down with Brian Belski, CEO & CIO of Humilis Investment Strategies, and Steve Hawkins, CEO of Longpoint ETFs.

Belski's case is simple: the 25-year secular bull market has a decade left, earnings are rising, and the stock picker is back. Gold is overextended. Canadian banks need scrutiny. U.S. financials are the most overlooked opportunity in the market. And if the consensus is calling for recession — he's going the other way.

Steve Hawkins built one of Canada's largest ETF platforms, walked away, and built it again on his own terms. Together, they just launched three new ETFs on the TSX — HBTA, HBDV, and HBOP — powered by Belski's fundamental, high-conviction approach. No gimmicks. No spaghetti on the wall. Just process.

If you manage money for clients, or you are the client, this one's worth your full hour.

🕒 CHAPTERS

00:00 — The Contrarian Gold Call

01:23 — Setting the Scene

02:09 — Meet Brian Belski & Steve Hawkins

03:12 — Why Longpoint and Why Now: Three New TSX ETFs

04:10 — Market Context 2026: Venezuela, Iran, Stagflation & the S&P Melt-Up

05:53 — Brian's Origin Story: Bill O'Neill, Warren Buffett & Iraq in 1990

10:02 — The 25-Year Secular Bull Market Thesis Explained

13:00 — Where We Are in the Cycle: Cyclical Bears Within a Secular Bull

15:30 — Why Fundamentals Win: Stocks Lead Earnings, Earnings Lead the Economy

16:23 — Private Wealth vs. Institutional Money: Who's the Smart Money Now?

19:12 — Steve Hawkins on Why Canadian Investors Were Missing Belski

20:34 — How the Humilis + Longpoint Partnership Came Together

22:23 — On Founding Humilis: "Equal Parts Excruciating and Exciting"

27:36 — The Biggest Investor Mistake Right Now: Behavioural, Not Analytical

28:11 — Gold at Four Standard Deviations: Why Belski Said Lighten Up

30:23 — Canadian Banks: The Math Behind Underperformance Risk

31:18 — AI Arms Race, Anthropic, OpenAI, and the Coke vs. Pepsi Analogy

34:44 — The Stock Picker's Market Is Back

35:35 — Most Compelling Opportunity Right Now: U.S. Financials

38:27 — Inside the Three Humilis ETFs: HBTA, HBDV, and HBOP

40:11 — Active vs. Index: The Return of the Stock Picker

42:37 — Belski's Canadian Convictions: Aritzia, Waste Connections, Shopify

45:20 — Great Company vs. Great Stock: The Distinction That Matters

46:17 — Google, Costco, and Contrarian Conviction in Practice

47:18 — What the Market Made Belski Revisit in 2026

48:44 — Longpoint's Vision: A Turnkey Platform for Global Asset Managers

51:14 — Wayne Gretzky, the Puck, and Canada's ETF Decade Gap

57:10 — $30M AUM in 25 Days Since Launch

57:38 — Brian's Biggest Surprise for Investors a Year from Now

59:15 — Closing: Keep It Simple, Stupid — and Stay Bullish

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