KJH Insights - Managing Risk & Returns

In this episode of KJH Insights, hosts Sarah Bull and Andrew Csumrik take stock of a busy summer in the markets and examine what it means for investors heading into the fall. From the rapidly evolving AI cycle and rising bond yields to higher oil prices, inflation concerns and renewed Canada-U.S. trade tensions, investors have had plenty to digest. Listen in as Sarah and Andrew unpack the forces driving markets.

In this mid-year episode of KJH Insights, hosts Sarah Bull and Andrew Csumrik take stock of the first half of 2026, reflecting on the key market developments that have shaped the year so far and what they could mean for investors in the months ahead. Despite strong market returns, the year has been marked by significant challenges, including the AI-driven "SaaScopalyse" that disrupted software stocks, geopolitical tensions in the Middle East, inflation concerns, and shifting market leadership. Sarah and Andrew explain why resilient corporate earnings continue to support equity markets, why they believe we're entering a new economic regime, and why Canada is beginning to emerge as a more attractive investment opportunity.

In this episode of KJH Insights, Joel Clark and Andrew Csumrik examine how inflation, interest rates and geopolitical tensions in the Middle East are shaping investor sentiment. They also explore the impact of recent and potential mega-IPOs, including SpaceX, OpenAI and Anthropic, and what these unprecedented valuations could mean for capital markets and investors. Finally, they discuss how the evolving composition of the S&P 500 is changing the nature of diversification and why strong corporate earnings continue to support a constructive outlook for investors.

With ongoing geopolitical uncertainty, many investors are asking: how can markets be hitting record highs right now? In this episode, we break down the shift away from oil-driven market movements, why volatility has settled, and how forward-looking markets process uncertainty. We also dive into what's fuelling the rally, from a surprisingly strong U.S. economy to standout earnings and the resurgence of mega-cap stocks.

There's no shortage of factors driving markets right now. In this episode, Sarah Bull and Andrew Csumrik begin with oil, examining what it is truly signalling about today's market environment, before unpacking the broader mix of forces at play, including ongoing volatility. The conversation reflects the reality investors are facing: a convergence of factors, where staying disciplined matters more than ever.

Despite a strong finish for equity markets in 2025, investors navigated a series of disruptive themes throughout the year, from DeepSeek-driven volatility early on to tariffs, geopolitical conflicts, and U.S. political risk. This episode reviews the forces that shaped markets in 2025 and considers the outlook for 2026, including consumer strength, market breadth, protectionism, elevated valuations, and risks associated with rising long-term interest rates.

In this final Women & Wealth episode of the year, Sarah Bull welcomes Theresa Shutt, Chief Investment Officer at Harbourfront Wealth Management to reflect on an eventful 2025 and explore what themes matter for investors for 2026. They discuss AI's growing market influence, the widening wealth divide in the U.S., and the policy forces to watch in the year ahead – along with the value of diversification and a steady long-term approach.

In this episode of KJH Insights, CEO Joel Clark and Managing Partner & Portfolio Manager Sarah Bull discuss the reacceleration of economic growth heading into Q1 2026 and the continued moderation of inflation shaping a "Goldilocks" environment, supportive of risk assets. However, they caution that equity multiples remain stretched and credit spreads tight, creating the potential for volatility to re-enter markets in 2026.