This week on The Wealth Roundup, Terry Evans and Patrick Leonard open with a market recap: Then, a special guest joins from Toronto: Aubrey Hearn, Senior Vice President and Portfolio Manager at CI Global Asset Management, who leads the firm's U.S. and small-cap equity teams. Aubrey breaks down the difference between mutual funds, ETFs, and private equity strategies, and makes the case for why small and mid-cap stocks — despite their volatility — may offer some of the most compelling value in today's market. He explains how his team hunts for companies with durable competitive advantages, strong reinvestment discipline, and room to grow, and why small caps are trading at a rare historical discount to their large-cap counterparts.Key TopicsStock selection process and characteristics of successful companiesDifferences between mutual funds, ETFs, and private equity strategiesCharacteristics of small and mid-cap companies and their growth potentialMarket volatility and opportunities in small capsFundamental analysis and financial metrics for investingPrivate equity strategies and their advantages and disadvantagesCharacteristics of companies with wide economic moats and pricing powerPsychological aspects of investing in small vs large stocksChapters00:00 - Introduction and Market Recap02:29 - Guest Introduction: Aubrey Hearn and his role06:17 - Differences Between Mutual Funds, ETFs, and Private Equity09:41 - Private Equity Strategies and Liquidity10:42 - Prospecting for Investment Opportunities12:29 - Characteristics of Successful Small and Mid Cap Companies14:10 - Valuation and Growth Potential of Small Caps15:09 - Psychological Aspects of Stock Prices and Growth16:45 - Opportunities in Small and Mid Cap Markets17:36 - Closing Remarks and Future Outlookwww.patrickmleonard.comwww.reluctantlypodcast.com @reluctantlypodcast @ZoneOnePodcast @networkofgivingpodcast @TheAlbertaGolfPodcast @DistilleryDiscoveryThis podcast is provided as a general source of information and should not be considered personal, legal, accounting, tax or investment advice, or construed as an endorsement or recommendation of any entity or security discussed. Investors should seek the advice of professionals prior to implementing any changes to their investment.The opinions expressed in the communication are solely those of the author(s) and are not to be used or construed as investment advice or as an endorsement or recommendation of any entity or security discussed.Commissions, trailing commissions, management fees and expenses all may be associated with an investment in mutual funds and exchange-traded funds (ETFs). Please read the prospectus before investing. Important information about mutual funds and ETFs is contained in their respective prospectus. Mutual funds and ETFs are not guaranteed; their values change frequently, and past performance may not be repeated. You will usually pay brokerage fees to your dealer if you purchase or sell units of an ETF on recognized Canadian exchanges. If the units are purchased or sold on these Canadian exchanges, investors may pay more than the current net asset value when buying units of the ETF and may receive less than the current net asset value when selling them.The statements contained herein that are not historical facts are forward-looking statements (FLS), based on current expectations and estimates about particular markets. These FLS are not guarantees of future performance and involve certain risks, uncertainties, and assumptions which are difficult to predict. Therefore, actual outcomes and returns may differ materially from what is expressed in such FLS. These FLS reflect the beliefs and assumptions of CI Global Asset Management and its portfolio managers at the time of publication. Neither CI Global Asset Management nor its portfolio managers undertake any obligation to update these statements except as required by law and accept no responsibility or liability for outcomes that differ from those expressed or implied in the FLS.Certain statements contained in this podcast are based in whole or in part on information provided by third parties and CI Global Asset Management has taken reasonable steps to ensure their accuracy. Market conditions may change which may impact the information contained in this podcast.Certain names, words, titles, phrases, logos, icons, graphics, or designs in this document may constitute trade names, registered or unregistered trademarks or service marks of CI Investments Inc., its subsidiaries, or affiliates, used with permission. All other marks are the property of their respective owners and are used with permission.CI Global Asset Management is a registered business name of CI Investments Inc.
