Insight is Capital™ Podcast

AdvisorAnalyst.com

The official podcast of AdvisorAnalyst.com, publisher of actionable market and investment insight, commentary, analysis and practice management for investment professionals and investors.

  1. 1d ago

    Corgi Invest's Jeff Weniger: Big Wall of Worry, Fears, No Bubble. Not Yet.

    What if the firm disrupting the ETF industry launched 197 funds in its first year — and priced them cheaper than Vanguard? Jeff Weniger, Chief Investment Strategist at Corgi Invest, joins hosts Pierre Daillie and Mike Philbrick on Raise Your Average for a wide-ranging conversation that moves from the macro landscape of mid-2026 — rising yields, a surprisingly hot economy, and the great AI infrastructure build-out — to the audacious product shelf of one of the ETF industry's boldest new entrants. Jeff brings his trademark macro clarity, market history, and plain-spoken honesty to a conversation that covers bubbles, bond vigilantes, copper, fiscal profligacy, and the case for precision over breadth in portfolio construction. Timestamped Chapters00:00 — Bubbles as a feature of capital formation: railroads, dark fiber, and the AI build-out 06:00 — Introducing Jeff Weniger and Corgi Invest: 197 ETFs, a war machine, and a price war 07:00 — Where are we in the cycle? The economy may be running hotter than you think 11:00 — Rising long-term yields: fiscal profligacy or economic strength? The gold and Bitcoin argument 18:00 — The new Fed under Kevin Warsh: protecting the plumbing, not the price 20:00 — Rising yields as opportunity: Jesse Livermore, the 10-year benchmark, and round number psychology 27:00 — De-equitization, the SpaceX IPO, and what a wall of worry actually looks like 31:00 — Are we in a bubble? Pets.com vs. GameStop vs. Nvidia: which was actually crazier? 38:00 — The Nifty 50, Toronto condos, and how long it takes markets to bubble again 42:00 — The Mag Seven is just chilling: why no giddy tape may mean no bubble 45:00 — Dr. Copper, energy's comeback, and the capacity inputs the market is ignoring 48:00 — Nominal GDP, CPI, and Scott Bessent's bet on growing out of the debt burden 52:00 — Apartment rents, the K-shaped economy, and what CPI is really telling you 57:00 — Jeff's eighth day at Corgi: the story of a tech unicorn that decided to launch ETFs 01:00:00 — The Corgi product shelf: thematics, leveraged funds, buffers, and beta at cost 01:01:00 — Buffer ETFs explained: who they're for and why 30 bps beats the field 01:06:00 — Competing on expense ratio against Vanguard and BlackRock: no false illusions 01:11:00 — The T-bill play: five basis points vs. nine — and why every basis point matters More...Corgi Invest Jeff Weniger on Linkedin #RaiseYourAverage #ETFinvesting #JeffWeniger #CorgiInvest #BufferETFs #MacroInvesting #InterestRates2026 #AIboom #ThematicETFs #BondMarket #WealthManagement #AdvisorInvesting #FinancialAdvisor #MarketOutlook2026 #AdvisorAnalyst #PierreDaillie #MikePhilbrick #ETFstrategy #PortfolioConstruction #CopperBull

    Corgi Invest's Jeff Weniger: Big Wall of Worry, Fears, No Bubble. Not Yet.
  2. 4d ago

    David Wong: Anything Can Happen—3 Decades of Market Crises Shaped this $400B CIO's Playbook

    What do electricity, a forgotten 1920s financier, and Bobby Orr have to do with building a portfolio that wins in 2026? More than you think. Pierre Daillie sits down with David Wong, Group Chief Investment Officer at CIBC Global Asset Management, who oversees investment teams across Canada and the US and runs more than $100 billion in managed solutions. With nearly three decades of experience, including a front-row seat to the 2008 crisis in New York, David brings a rare "anything can happen" perspective to a market that looks constructive yet crowded. The conversation ranges from the AI super cycle and why it may rhyme with the 1870 to 1970 productivity boom, to the uncomfortable lesson of Samuel Insull, who backed the right technology and still faced ruin. David lays out where conviction and caution sit in equities and fixed income, why Canada deserves a second look, and how quant, low volatility, alternatives and high-conviction active management each play a role on an all-star roster built for any kind of game. Along the way, he pulls back the curtain on how a $400 billion manager actually makes decisions, from a monthly investment committee to a daily 8 AM "Kaizen" meeting that brings a couple hundred people together across North America. The episode closes with the one thing David believes advisors are underestimating right now. Chapters 00:00 Introduction: offense, defense and discipline 02:00 David's path from Bay Street summer student to Group CIO 07:00 The AI super cycle and Robert Gordon's productivity thesis 14:00 Financing the boom: the Samuel Insull warning 17:30 Equities: earnings breadth, valuations and strategic allocation 20:30 Canada's second look: resources, power and the AI build-out 22:30 Tech concentration and the second-order effects nobody sees yet 27:00 Building the core: quant strategies and active conviction 30:00 Fixed income: rising yields and the 1977 to 1981 lesson 34:30 Where the fixed income opportunity sits today 38:30 The all-star team: offense, defense and two-way players 45:00 Heroes without capes: the real alpha advisors deliver 46:00 Running $100 billion: investment committee and the Daily Kaizen 54:30 Alternatives and real assets: the LeBron James role 58:30 Total portfolio thinking and the power of the IPS 61:00 What really matters after three decades 67:00 What advisors are underestimating right now 69:00 Closing thoughts #InsightIsCapital #DavidWong #CIBCAssetManagement #PortfolioConstruction #AssetAllocation #AISuperCycle #Investing #WealthManagement #FinancialAdvisors #FixedIncome #BondYields #CanadianEquities #TSX #Diversification #QuantInvesting #LowVolatility #ActiveManagement #Alternatives #HedgeFunds #PrivateCredit #MarketOutlook2026 #InvestmentStrategy #BehavioralFinance #AdvisorAnalyst #FinancePodcast

    David Wong: Anything Can Happen—3 Decades of Market Crises Shaped this $400B CIO's Playbook
  3. Aug 24

    Everything in Order, Nothing in Place: The Hidden Liquidity Crisis in Business Succession

    A business owner can spend a lifetime building something extraordinary, and still have it quietly dismantled at death by a tax bill no one planned for. In this episode of Cover Your Assets, hosts Pierre Daillie and Ayal Cohen are joined by Eric Orr, Advanced Case Director of Sales at IA Financial Group, for a deeply illuminating conversation about what it really takes to protect a business owner's wealth, legacy, and the continuity of everything they have built. Drawing on 25 years of experience as an advisor and advanced case specialist, Eric helps advisors see what most business owners cannot yet see for themselves: that even the most carefully structured estates, shareholder agreements, and holding companies can unravel at the moment of transition, not from poor intentions, but from the absence of liquidity when it matters most. Eric walks through how CRA's very legal form of double taxation silently erodes business estates, why a beautifully drafted buy-sell agreement offers no protection without funding behind it, and how Canada's wealthiest families use cascading and corporate-owned insurance to move generational wealth elegantly and tax-efficiently. He also shares how advisors can open these conversations in ways that feel natural and genuinely helpful, surfacing planning gaps that business owners and their families did not know existed, and guiding them toward strategies that preserve what they have spent a lifetime creating. Whether you work in insurance, wealth management, or both, this episode reframes advanced insurance planning not as a product conversation, but as one of the most powerful acts of stewardship an advisor can offer. Chapters00:00 The problem no one sees coming: four liabilities, one moment 02:00 Eric's path from advisor to advanced case specialist 05:00 Why estates fail: planning gaps, CRA exposure, and family conflict 08:00 Family meetings, equalization, and keeping wealth intact across generations 11:00 The true tax exposure at death for business owners 12:00 CRA's legal double taxation, explained 14:00 Post-mortem planning most accountants never see 18:00 Buy-sell agreements: the plan behind the plan 20:00 Funding the transition: why insurance solves what liquidation cannot 25:00 Case study: a second-generation business, leveraged and exposed 30:00 Reframing insurance: from product to wealth preservation mechanism 33:00 How affluent families cascade insurance across generations 36:00 Corporate dollars, lower tax rates, and greater capital efficiency 40:00 Bringing accountants into the conversation as allies 44:00 How advisors can open the door to planning conversations naturally 47:00 Illustrating the cost of inaction: pennies protecting dollars 51:00 Death, taxes, and choosing who inherits: CRA or your family 54:00 When clients say they are already covered: finding the gaps 59:00 Closing reflections More... Eric Orr on Linkedin #EstatePlanning #SuccessionPlanning #LifeInsurance #WealthTransfer #BusinessOwners #TaxPlanning #FinancialAdvisors #InsuranceAdvisors #BuySellAgreement #CorporateInsurance #CanadianTax #WealthManagement #FamilyBusiness #LegacyPlanning #CRA #BusinessContinuity #InsuranceStrategy #WealthPreservation #CoverYourAssets #IAFinancialGroup

    Everything in Order, Nothing in Place: The Hidden Liquidity Crisis in Business Succession
  4. Aug 21

    Ric Edelman: What everyone gets wrong about Bitcoin in 2026

    Ric Edelman was early on Bitcoin. He was right. Now he explains why the argument has changed completely. Ric Edelman, founder of Edelman Financial Engines (one of the largest independent RIA Firms in the U.S.), the Digital Assets Council of Financial Professionals (DACFP) and one of the architects of modern independent wealth management, joins Pierre Daillie and Mike Philbrick on Raise Your Average for a searching, unvarnished conversation about where the digital asset story actually stands today. With Bitcoin off roughly 50% from its peak and public attention captured by AI, Edelman reframes what this moment demands of advisors and investors. He traces the arc from being booed off stages in 2013 to watching Morgan Stanley tell its sixteen thousand advisors to allocate two to four percent to crypto, and argues that the real inflection point has already passed. The conversation moves well beyond price, covering the quiet institutionalization of blockchain rails inside the largest banks on earth, why a 90-year-old client may have every reason to own crypto, how advisors are quietly losing clients to an asset class they refuse to understand, and why the stalling of the CLARITY Act exposes a more troubling political dynamic than most observers have admitted. Chapters00:00 – Introduction: why most Bitcoin opinions haven't been earned 01:00 – Who is Ric Edelman? DACFP, Edelman Financial Engines, and the long conviction 07:00 – Bitcoin's 50% drawdown in context: behavioral lessons that apply to every asset class 09:00 – Why AI stole crypto's thunder (and why that may be an opportunity) 11:00 – Ric's origin story: from "digital what?" in 2012 to founding DACFP 16:00 – Bitcoin vs. Amazon: the chart that changes the conversation 19:00 – The CLARITY Act: why it stalled, who to blame, and why it may not matter 22:00 – How allocator sentiment has shifted from passion to shrug (and why that's healthy) 25:00 – TradFi adoption: JP Morgan, Goldman, Morgan Stanley, and the race to tokenize 28:00 – The training gap: why the C-suite is ready but advisors still can't answer client questions 32:00 – Beyond Bitcoin ETFs: 200+ crypto products advisors don't know exist 35:00 – Why older advisors say "why bother?" and why that logic is quietly destroying their books 40:00 – The 90-year-old client: asset allocation in the image of your heirs 48:00 – Tokenization and stablecoins: the plumbing that changes everything 54:00 – Real-world use cases: casinos, capital efficiency, and the velocity of money 57:00 – The American blind spot: why two billion people see crypto as a lifeline 01:01:00 – Why Wall Street didn't die: it adopted the rails instead 01:05:00 – Trump, the CLARITY Act ethics clause, and the politics of crypto self-dealing 01:09:00 – Where to start: DACFP, the CBDA designation, and The Truth About Crypto 01:13:00 – Final thought: crypto as the most intellectually interesting asset class alive DACFP - Digital Assets Council of Financial Professionals Ric Edelman on Linkedin #Bitcoin #CryptoForAdvisors #DigitalAssets #DACFP #RicEdelman #BitcoinETF #Tokenization #Stablecoins #ClarityAct #CryptoRegulation #WealthManagement #FinancialAdvisors #RIA #BlockchainAdoption #CryptoEducation #RaiseYourAverage #InvestmentAdvisors #PortfolioAllocation #BitcoinAllocation #CryptoInvesting #CBDA #FinancialPlanning #AdvisorTech #CryptoMarket #BitcoinBehavior

    Ric Edelman: What everyone gets wrong about Bitcoin in 2026
  5. Aug 18

    The Credibility Dividend: Why Finfluencers are Making Real Advisors More Valuable Not Less | Stephanie Wolfe

    35% of Canadian retail investors have made a financial decision because of a finfluencer. Here's why that's the best news advisors have heard in years. The way investors learn about money has been rewired, scroll by scroll, on platforms never built for financial advice. In this episode of Insight is Capital, Pierre Daillie sits down with Stephanie Wolfe, EVP and Head of Marketing at Global X Canada, to unpack what her team's research reveals about how Canadians actually consume financial content, and why the rise of finfluencers, short-form video, and AI verification tools may be strengthening, not eroding, advisor credibility. Here's what the research revealed:Facebook was #1 with Boomers at 86% and Gen X at 82%Gen Z Top 3: YouTube 81% / Instagram 75% and TikTok 75%70% of Canadian investors watch Finfluencer content: • 94% of Gen Z watch 4.9 x a week • 80% of Millennials watch 2.5x a week • 71% of Gen X watch 1.9x a week • 54% of Boomers watch 2.3x a weekDrawing on two decades of financial marketing leadership at Franklin Templeton, BlackRock, and now Global X, Stephanie explains why the trust equation has shifted from brands to people, what a Reddit AMA taught her about authenticity, and how time-crunched advisors can meet clients where they are without becoming content creators themselves. She also shares a sneak peek of unreleased research on how AI is lengthening, and reshaping, the investor decision journey. Chapters 00:00 - The ground has shifted: finfluencers go mainstream 03:40 - Stephanie's career arc: Franklin Templeton, BlackRock, Global X 05:45 - What the research says investors actually want 10:50 - "They don't know what they don't know": the new client conversation 13:30 - The two-to-five-minute sweet spot and Dunbar's number 15:50 - Quarterly client events as trust and referral engines 20:05 - The access gap: investors who can't find an advisor 22:40 - Inside a Reddit AMA: how trust really works on platforms 27:45 - Content strategies for time-crunched advisors 31:20 - Sneak peek: new research on AI, finfluencers, and Quebec investors 36:30 - The biggest content mistake hiding in plain sight 40:10 - Deepfakes, regulation, and the next two years 44:20 - How investors really make decisions: signals, not straight lines #Finfluencers #FinancialAdvisors #Investing #ETFs #WealthManagement #GlobalXCanada #InvestorEducation #FinancialMarketing #PersonalFinance #CanadianInvestors #AIinFinance #FinTwit #AdvisorMarketing #FinancialContent #InsightIsCapital

    The Credibility Dividend: Why Finfluencers are Making Real Advisors More Valuable Not Less | Stephanie Wolfe
  6. Aug 13

    Convergence Investing Comes of Age: BMO Strategic Equity Yield Fund at Three Years

    Three years ago, BMO Global Asset Management (BMO GAM) launched a fund that defied traditional categories. It wasn't quite equity, and it wasn't quite fixed income. Advisors weren't always sure where it fit, and that was precisely the point. Today, the BMO Strategic Equity Yield Fund has grown to $1.3 billion in assets. In this special anniversary episode of Insight Is Capital, BMO GAM CEO Bill Bamber returns to discuss the thinking behind the strategy, the problem it was designed to solve, who may benefit from it, and where it belongs in a portfolio. Drawing on three decades of experience in global capital markets, Bill explores why Canada has emerged as a leader in structured solutions, how investor needs are reshaping portfolio construction, and the rise of what he calls convergence investing. Along the way, he offers a fresh perspective that could change how advisors think about model portfolios. Listen to the full conversation here. Chapters 00:00 Introduction: The Two-Box Problem 02:00 Bill Bamber's Career Arc: TSX Floor to BMO GAM 04:30 The Convergence Investing Mandate 05:30 SEYF at Three Years: $1.45B and What Was Delivered 07:30 The Yield Gap: Demographics, Rates, and Sticky Inflation 11:00 Auto-Callables vs. Covered Call Funds 17:00 Why Canada Became a Global Structured Products Leader 19:30 How an Auto-Callable Note Works: Plain-Language Mechanics 24:00 From a Single Note to a Portfolio of 118 26:00 The Unexpected Benefits of Trading at Scale 30:00 Fee-Based Accounts and the Advisor Business Case 32:00 Evergreen Exposure and the Elimination of Timing Risk 35:00 Auto-Callables as an Asset Class, Not a Trade 37:00 Where SEYF Fits in the Portfolio: The Sleeve Question 39:00 Drawdown Behavior, the 8% Target, and When It Disappoints 44:00 Three Years at Scale: What the Team Learned 46:00 New Access: MFDA Advisors and Democratized Structured Products 48:00 What's Next: ZCDX and the Credit Default Swap Market 49:30 Is Convergence Investing a Category, or the New Default? Please watch to the end of the video for full disclaimers. For more BMO Strategic Equity Yield Fund details and disclaimers please read here. #StructuredProducts #AutoCallables #IncomeInvesting #YieldInvesting #BMO #BMOGlobalAssetManagement #SEYF #ConvergenceInvesting #CanadianInvesting #ETF #FixedIncomeAlternatives #WealthManagement #FinancialAdvisors #InvestmentStrategy #AlternativeIncome #PortfolioConstruction #DownsideProtection #RetirementIncome #InsightIsCapital #AdvisorAnalyst #CanadianFinance #ZCDX #ZAAA #BillBamber #PierreDaillie #FinancePodcast #CanadianMarkets

    Convergence Investing Comes of Age: BMO Strategic Equity Yield Fund at Three Years
  7. Aug 11

    Doomberg: Energy, AI, and the Calls Nobody Else Made

    The anonymous analyst who predicted Carney's election and energy pivot, China's solar collapse, and the Iran oil bluff — before anyone else was even asking the question — pulls back the curtain on exactly how he thinks, and what's unfolding. Pierre Daillie sits down with Doomberg, the anonymous author behind one of Substack's most widely read energy and finance publications, for a wide-ranging conversation about how to think clearly in a world saturated with noise, spin, and bad incentives. Whether you follow markets, care about where energy comes from, or simply want to understand the forces quietly reshaping the global economy, this episode is essential listening. Doomberg opens by explaining the difference between linear and lateral thinkers — and why the ability to explore an idea you don't necessarily believe is the secret behind every major call his team has made. From predicting Mark Carney's pipeline pivot months before it happened to flagging China's solar pullback before installations fell nearly eighty percent year over year, each call came from the same discipline: build a mental model, use it to make predictions, and throw it out the moment it stops working. The conversation then unpacks the hidden logic of global energy — why oil, gas, and coal are slowly converging toward the same price when measured by what they can actually do, and how China has spent decades quietly positioning itself to win an energy war it never officially declared. The Iran conflict, far from being a Middle East story, turns out to be a proxy move in a much larger contest over who controls the fuel that powers the modern world. The final act connects energy to artificial intelligence in a way most people haven't considered. Every AI model, every data center, every query runs on electricity — and the race to build that infrastructure is running headlong into permitting walls, protest movements, and a regulatory system never designed for this scale. Doomberg's axiom is simple and radical: the human drive toward infinite compute will sweep every obstacle aside. The question is how fast, and who profits from what gets built along the way. Chapters00:00 — Introduction: the calls nobody else made 03:00 — Linear vs. lateral thinking: how Doomberg builds mental models 07:00 — The Carney call: predicting Canada's energy pivot 17:00 — On anonymity, intellectual honesty, and publishing what you believe 33:00 — Iran, propaganda, and reading news from every side 39:00 — Why all energy sources are converging toward the same price 48:00 — China's master energy strategy: coal, solar, EVs, and oil stockpiles 54:00 — How electricity grids actually work and why it matters 59:00 — Why sanctions rarely work against strong countries 01:10:00 — The Iran war as a move against China's energy supply 01:15:00 — AI's electricity problem and the Project Kilby stress test 01:20:00 — The human endeavor is infinite compute #Doomberg #EnergyMarkets #AIEnergy #DataCenters #ChinaEnergy #NaturalGas #IranOil #MarkCarney #CanadaPipelines #LNG #LateralThinking #MentalModels #HowToThink #GeopoliticsExplained #EnergyGeopolitics #AIInfrastructure #ElectricityGrid #PermittingReform #InsightIsCapital #FinancePodcast #EnergyInvesting #MacroEconomics #GlobalEnergy #FutureOfAI

    Doomberg: Energy, AI, and the Calls Nobody Else Made
  8. Aug 7

    The Risk That Isn't in the Retirement Plan: Markets Recover, Cyber Fraud Doesn't

    Markets can recover from a downturn. Your retirement cannot recover from cyber fraud. In this episode of Insight Is Capital, host Pierre Daillie sits down with Cary Williams, Portfolio Manager and Director of Research at North Road Investment Counsel, and Mykhailo "Misha" Niemtsev, North Road's Digital Risk Advisor, to make a compelling and data-backed case that cyber fraud belongs in every retirement plan alongside inflation, longevity, and sequence-of-returns risk. Drawing on Canadian Anti-Fraud Centre data, their whitepaper The Retirement Risk No One Is Planning For, and direct client experience, Cary and Misha reveal that the average spear phishing loss per victim reached $107,000 in 2024, representing 10 to 15 percent of the average retiree's liquid assets. They examine the AI-powered tools criminals now deploy, including voice cloning, deepfake video, and automated phishing at massive scale, and explain why the very clients who believe they are immune are statistically the most vulnerable. Misha walks through the eight-module digital protection program he has built for North Road's high-net-worth clients, distilling it into the 20 percent of actions that deliver 80 percent of the protection, and makes the case for advisors to add cyber risk to every client conversation, not as a footnote, but as a standing agenda item. Episode Chapters0:00 - Introduction: The retirement risk that never appears in the plan 1:52 - Meet Cary Williams and Misha Niemtsev, North Road Investment Counsel 5:23 - How North Road's Digital Risk Advisory program was born 8:52 - Canadian Anti-Fraud Centre data: the numbers are striking 9:53 - Who is most at risk? The surprising fraud victim profile 10:40 - Shame, denial, and the massive under-reporting problem 12:08 - AI-powered threats: voice cloning, deepfakes, and agentic phishing 17:44 - Dark web reality: your personal data costs criminals just dollars 20:46 - Why cyber fraud qualifies as a retirement tail risk 25:11 - The human cost: trauma, identity theft, and years of recovery 28:02 - Legal consequences when your identity is used to commit crime 31:56 - The grandparent scam and what 10 seconds of audio can do 35:32 - Pig butchering scams: criminals who play the long game 39:02 - Misha's eight-module digital protection program explained 43:00 - The Pareto principle: the 20% of actions that stop 80% of attacks 46:50 - North Road's free anonymous Digital Risk Quiz 49:25 - What advisors should change in their practice today ResourcesWhitepaper:The Retirement Risk No One Is Planning For Free Digital Risk Self-Rating Tool (anonymous, no email required): Take the Digital Risk Quiz at northroadic.com #CyberFraud #RetirementPlanning #FinancialPlanning #WealthManagement #Cybersecurity #IdentityTheft #ElderFraud #RetirementRisk #InsightIsCapital #DigitalRisk #SpearPhishing #AIScams #CanadianInvestors #FinancialAdvisors #ProtectYourRetirement #CyberSecurity #RetirementSecurity #FraudPrevention #WealthProtection #CanadianFinance

    The Risk That Isn't in the Retirement Plan: Markets Recover, Cyber Fraud Doesn't

Ratings & Reviews

5
out of 5
2 Ratings

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The official podcast of AdvisorAnalyst.com, publisher of actionable market and investment insight, commentary, analysis and practice management for investment professionals and investors.

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