Stocks may be falling but Rebecca Teltscher, portfolio manager at Newhaven Asset Management’s portfolio is up, proving that her long-term, fundamentals driven approach is working. Rather than chasing short-term trends, she focuses on defensive investments—companies that provide critical infrastructure and offer long-term stability by prioritizing dividends. She says Donald Trump’s trade war means stagflation is a huge risk but notes the sectors she invests in are attractive regardless of an economic slowdown or rise in inflation. She tells In the Money with Amber Kanwar why she’s bullish on Canadian stocks, why valuation matters more than hype, and reveals the companies she’s buying now—including one energy name she calls “the most enticing buy in the market.”

Timestamps 

00:00 Show intro 

01:45 Rebecca explains her defensive approach to investing 

04:00 What tariffs mean for the defensive dividend-paying approach

06:00 Is stagflation is a big risk and what’s the stagflation playbook? 
09:45 U.S. vs. Canadian stocks & why Rebecca thinks Canadian stocks are poised to continue to outperform 

14:45 Carney vs. Poilievre: assessing the what the next Prime Minister will mean for Canadian markets 
17:45 In the Money mailbag: Is Algonquin Power & Utilities hopeless? 
22:45 What are Rebecca’s thoughts on Telus as a long-term hold? 
25:45 Will BCE cut the dividend? 
29:40 What is a catalyst for Nutrien? 

31:45 Rebecca’s thoughts on Gibson Energy 
33:45 Is there more upside in Manulife? 

35:15 Rebecca’s thoughts on the Hamilton U.S. Bond Yield Maximizer ETF

39:45 Rebecca’s Pro Picks 

53:00 Goodbye & coming up

Sponsors
This episode is brought to you by BMO InvestorLine. We often discuss various stock ideas and market trends on this show. If you’re looking to explore those ideas further, BMO InvestorLine is an excellent resource. Their platform provides in-depth research, powerful tools, and commission-free trading on over 100 popular ETFs. Plus, you’ll find the BMO Investment Learning Centre with educational courses and videos empowering you to make informed decisions. Remember, always do your own research before investing. Learn how you can earn up to $3,500 cash back when you open a new account at  bmo.com/onlineinvesting?ecid=pr-2886232INV1-JNBMO16

For over 25 years, Raymond James has been helping Canadians achieve their financial goals. They are Canada's largest independent financial services firm with over 520 dedicated advisors, $88 billion in assets under management, and capital markets services. With no proprietary product to push, their advisors are free to focus on the unique needs of their clients. Whether you are saving for your children’s education, preparing for retirement, or safeguarding wealth for future generations, Raymond James is committed to guiding you every step of the way. Visit raymondjames.ca today to discover how you can live a life well planned.

Pro Picks is brought to you by ATB Financial. With $62 billion in assets, ATB Financial is powering possibilities for more than 820,000 financial services clients in Alberta and beyond. ATB's Capital Markets arm is a full-service investment dealer that offers investment and corporate banking, sales and trading, institutional research, and risk management. Visit ATB.com/inthemoney for more information.

Links

Follow In the Money:

Visit the website: https://inthemoneypod.com/ 

Submit a question: [email protected] 

Follow In the Money on Instagram: https://www.instagram.com/inthemoneypod/?hl=en 

Facebook: https://www.facebook.com/profile.php?id=61569721774740 

Twitter/X: https://twitter.com/inthemoneypod 

TikTok: https://www.tiktok.com/@inthemoneypod?lang=en

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.

BMO DISCLAIMER 

Terms and conditions apply. BMO InvestorLine is a wholly owned subsidiary of Bank of Montreal. Member – Canadian Investor Protection Fund and Member of the Canadian Investment Regulatory Organization.

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.