Canadian stocks are hitting record highs, so where should investors look next? On this episode of In the Money with Amber Kanwar, veteran money manager Lyle Stein of Forvest Canada breaks down why he’s leaning into resource stocks and dividend payers as the backbone of a portfolio.

From gold miners to pipelines to natural gas plays, Stein explains his “comfort, calamity and children” strategy for portfolio construction as a way to balance income, protection, and long-term growth. He shares why he’s cautious on Canadian banks, where he still sees opportunities in commodities like copper, uranium, and silver, and why dividend-paying stocks remain the vitamins every investor needs.

In the mailbag, we tackle viewer questions on some of Canada’s biggest dividend and resource names. Stein shares his thoughts on insurers like Manulife (MFC.TO), pipelines including Pembina (PPL.TO), as well as REITs such as Primaris (PMZ.UN.TO). Lyle highlights large-cap gold leaders like Agnico Eagle (AEM), streamers such as Franco Nevada (FNV) and Wheaton (WPM), and why silver producers like First Majestic (AG) could be the next breakout. He also digs into Cameco (CCO) and its Westinghouse deal as a long-term nuclear power play, while eyeing Teck Resources (TECK) as a copper-driven transition winner.

In Pro Picks, Stein reveals his highest-conviction dividend and resource stocks right now: Peyto Exploration (PEY.TO) for natural gas exposure, Sprott Inc. (SII.TO) as a leveraged play on gold, silver, and uranium, and First Majestic Silver (FR.TO) as a way to capture the silver rally.

Timestamps
00:00 Show intro
01:50 What is Lyle’s style of investing? Vitamins for your portfolio
04:50 Portfolio construction: Comfort, Calamity, Children 

07:15 Markets are at all-time highs. Is this time different?
10:35 Canadian stocks are back. Is there still value or opportunity?
15:55 What is Lyle doing in the portfolio?
20:00 ITM Mailbag: Lyle’s best pick in insurance: Manulife stock (MFC.TO)
21:00 Pipelines for yield: Pembina Pipeline (PPL.TO)
24:50 Why Lyle doesn’t own any REITs right now, but he’s eyeing Primaris (PMZ.UN)
27:00 Teck Resources stock (TCK.B) 

29:00 Nat gas stocks (TOU)
32:20 Gold & Mining stocks (AEM, WPM, FNV)
37:20 Uranium & Cameco stock (CCOl)
39:15 Constellation Software (CSU)
41:10 Lyle’s Pro Picks (PEY, SII, AG)
50:35 : ETF Minute: Hamilton ETFs HEB & HCAL 

Sponsors

For over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.

Pro Picks is brought to you by ATB Financial.  Visit https://ATB.com/inthemoney for more information

ETF Minute is brought to you by Hamilton ETFs. Find out more about HEB & HCAL at hamiltonetfs.com 

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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.

In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.

Contact: questions@inthemoneypod.com

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