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 as much as a 6% GDP shock, a 3% surge in inflation, and send the Canadian dollar plummeting to 52 cents.” — Ilan Kolet
Episode Highlights & Timestamps
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 Dire Post-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
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