📈 Market uncertainty, rate cuts, U.S. exceptionalism, and a potential
Canadian dollar shock—are we prepared for 2025? In this must-watch
episode, Pierre Daillie sits down with Ilan Kolet, Institutional
Portfolio Manager at Fidelity’s Global Asset Allocation Team, to
dissect the most pressing questions investors and advisors are facing
right now.
💡 What happens if a 25% tariff is imposed on Canadian exports? 💡
Is the Canadian dollar heading for a collapse? 💡 Why are U.S.
equities still the best game in town? 💡 Have investors misunderstood
the bond market? 💡 Should portfolios brace for a new investment
paradigm?
🔥 "A 25% tariff on Canadian exports could trigger a 6% GDP shock, a
3% surge in inflation, and send the Canadian dollar plummeting to 52
cents." — Ilan Kolet
⏳ [00:00:00] Intro & Welcome – Kicking off 2025 with
uncertainty
⏳ [00:02:00] A Market on Fire – Why a balanced portfolio returned
20% in 2024
⏳ [00:03:00] The Elephant in the Room: Political Instability &
Tariffs
⏳ [00:07:00] Canada’s Hidden Economic Weakness & The BoC's
Tariff Simulation
⏳ [00:13:00] Inflation or Deflation? What a Shock Would Mean for
Investors
⏳ [00:18:00] Are Investors Front-Running Inflation?
⏳ [00:22:00] Positioning for Uncertainty: How to Build Resilience
into Portfolios
⏳ [00:27:00] The Bond Market Paradox: Higher for Longer?
⏳ [00:30:00] Why U.S. Equities Are Still the Best Bet in 2025
⏳ [00:36:00] Rate Cuts: Canada Has to Cut, The Fed Wants to
Cut
⏳ [00:42:00] Will the Canadian Dollar Go On Sale?
⏳ [00:49:00] The Rise of Alternatives & Why They’re Critical in
This Market
⏳ [00:54:00] The ‘Magic’ of Portfolio Construction in Volatile
Markets
⏳ [00:55:00] Closing Thoughts – An Elegant Solution for Complex
Markets
✅ A Canadian Tariff Shock Could Be Devastating – Ilan warns that a
25% tariff could trigger a 6% GDP decline, 3% inflation surge,
and a 25% CAD devaluation. “We should be taking the threat of
tariffs exceptionally seriously.”
✅ U.S. Equities Are Still King – "The U.S. economy is 15% larger
than in 2018, and unlike Europe or Japan, it keeps expanding. We’re
overweight U.S. stocks for a reason."
✅ Higher for Longer—But Not How You Think – The consensus view on
interest rates is wrong. "The Fed doesn’t need to cut aggressively,
and that’s a shock many bond investors aren’t ready for."
✅ Canadian Dollar in Trouble? – “The direction of travel is lower.
We’re at a historically high underweight on the CAD."
✅ Alternatives Are Essential – With stocks and bonds positively
correlated, liquid alts are more critical than ever.
✅ The Secret Sauce: Risk-Adjusted Returns – "Portfolio construction
is an elegant solution to a complex problem. Diversification isn't
just about asset types—it's about return streams that don’t move
together."
🎧 Listen to the full episode and get ahead of 2025’s biggest
investment challenges!
#Markets #Investing #Finance #Economy #InterestRates #PortfolioManagement #WealthManagement #Stocks #Bonds #Canada #USMarkets #Alternatives #Fidelity #Tariffs #MacroEconomics
