Educational Webinar Series

Throughout the year, our team hosts educational webinars designed to help clients better understand the forces shaping financial markets, investment opportunities, and their long-term financial plans.

These sessions bring together experienced investment professionals and industry specialists to discuss timely topics in a practical and accessible way. Our goal is to look beyond the headlines, provide useful perspective, and help investors make informed decisions with greater confidence.

Below are highlights from two of our recent webinars.

Rethinking Diversification: Why Alternative Investments Matter Now More Than Ever | September 10, 2026

Markets have rewarded investors who stayed invested over the last decade, but recent years have highlighted an important reality: traditional diversification may not always provide the same protection investors have historically expected.

During our webinar, Rethinking Diversification: Why Alternative Investments Matter Now More Than Ever, we explored how investors can adapt their portfolios to today's evolving market environment and why alternative investment strategies are becoming an increasingly important component of modern portfolio construction.

Hosted by John Sacke, Yoav Vodianoi, and Niti Joshi, the session featured Michael White, Portfolio Manager of Multi-Asset Strategies at Picton Investments, who shared insights on diversification, market concentration, risk management, and the growing role of alternative investments.

 

Why Diversification Needs a Fresh Look

For decades, investors relied on a balanced mix of stocks and bonds to provide growth and stability. Historically, when equity markets struggled, bonds often helped cushion portfolio declines.

However, as many investors experienced in 2022, rising inflation and rapidly increasing interest rates caused both stocks and bonds to decline simultaneously. This challenged a fundamental assumption of traditional portfolio construction and highlighted the need for additional sources of diversification.

The discussion emphasized that true diversification is not simply about owning more investments. It is about owning investments with different drivers of return and risk. If multiple holdings ultimately react the same way to market events, the benefits of diversification may be more limited than investors expect.

 

The Importance of Managing Downside Risk

Investors naturally focus on generating returns, but limiting losses can have an equally important impact on long-term outcomes. A portfolio that declines less during a market downturn requires a smaller recovery to return to its previous value, supporting stronger long-term compounding and a smoother investment experience.

This becomes especially important for retirees and those approaching retirement. Significant market declines early in retirement can affect the sustainability of portfolio income and long-term financial security.

Managing downside risk is therefore not only about reducing volatility. It can also improve the probability of successfully achieving long-term financial goals.

 

Understanding Alternative Investment Strategies

Alternative investments can include real estate, commodities, infrastructure, private debt, and private equity. Our discussion focused primarily on strategies designed to generate returns that are less dependent on the direction of traditional stock and bond markets.

Examples included:

  • Long/short investing
  • Market-neutral strategies
  • Inflation-sensitive strategies
  • Diversification-oriented alternative portfolios

These strategies can provide additional sources of return, lower correlation to traditional asset classes, and the potential to reduce overall portfolio volatility.

Importantly, many alternative strategies available today are more accessible and liquid than investors may realize, making them practical tools that can complement traditional investments.

 

Market Concentration and the AI-Driven Rally

Another important topic was the increasing concentration within equity markets.

While broad market indices have continued to reach new highs, a significant portion of recent returns has been driven by a relatively small group of large companies connected to artificial intelligence and related themes.

Although technological innovation remains an important growth driver, investors should be mindful of concentration risk and consider whether their portfolios have sufficient exposure to a variety of return drivers rather than relying heavily on a single market theme.

 

Looking Beyond Headline Returns

One of the most valuable insights from the discussion was the distinction between the quantity of return and the quality of return.

Investment success should not be measured solely by whether a portfolio outperforms a benchmark. Volatility, risk taken, tax efficiency, consistency of returns, and alignment with an investor's personal objectives are also important considerations.

A successful portfolio is not necessarily the one that produces the highest return in every environment. It is one designed to help investors achieve their objectives while avoiding unnecessary risk.

 

Key Investor Takeaways

  • Diversification should extend beyond simply owning stocks and bonds.
  • Focus on risk-adjusted returns rather than chasing performance alone.
  • Be cautious of concentrated market themes and momentum-driven investing.
  • Maintain flexibility and liquidity to take advantage of future opportunities.
  • Stay focused on long-term objectives rather than short-term market noise.
  • Higher inflation, changing interest-rate dynamics, and greater market concentration continue to influence how portfolios are constructed. Alternative investment strategies can provide investors with additional tools to improve diversification and manage risk across different market environments.
  • While no strategy can eliminate investment risk, thoughtful diversification remains one of the most effective ways to build a more resilient portfolio.

AI Unraveled: Separating Hype from Opportunity | January 29, 2026

Artificial intelligence has rapidly evolved from a niche technology topic into one of the most significant economic and investment themes of our time.

To help investors better understand this changing landscape, we hosted AI Unraveled: Separating Hype from Opportunity, featuring Bipan Rai and Malcolm Stephen White from BMO Global Asset Management.

The discussion examined AI through both an economic and innovation lens, helping attendees distinguish potential long-term opportunities from short-term market enthusiasm.

 

AI Has Become a Real Economic Driver

Artificial intelligence is no longer simply a future concept. It is already influencing economic growth, corporate investment, and productivity.

Since 2022, spending on AI-related software, research, and infrastructure has accelerated significantly. Investment is also expanding beyond technology companies into areas such as materials, utilities, energy, and industrials as businesses build the infrastructure required to support greater AI adoption.

This growth may also create opportunities outside the United States. Resource-rich countries such as Canada could benefit from increasing demand for the metals, energy, and infrastructure required to support AI development.

 

The AI Trade Is Maturing

During the early stages of the AI boom, broad exposure to technology stocks generally performed well as markets treated AI as a relatively unified growth story.

Today, investors are becoming more selective.

As companies invest significant amounts of capital into AI initiatives, profitability, balance-sheet strength, valuation, and the ability to generate an attractive return on that investment are becoming increasingly important.

The conversation is evolving from "Who is involved in AI?" to "Who can profit from AI?"

 

More Than Another Technology Cycle

One of the most compelling themes from the webinar was the possibility that AI could represent the beginning of a broader industrial transformation rather than simply another technology trend.

In only a few years, AI capabilities have expanded rapidly from generating text to creating images and video, building software applications, and developing complex digital environments.

AI is also increasingly moving into the physical economy through applications in:

  • Transportation
  • Logistics
  • Manufacturing
  • Healthcare
  • Scientific research
  • Robotics

As these capabilities expand, AI has the potential to reshape how businesses operate and how entire industries create value.

 

Real-World Applications Are Already Emerging

The webinar highlighted several examples showing how AI is moving beyond theory and into practical business applications.

One example was Waabi, a Canadian autonomous trucking company using artificial intelligence in transportation and logistics.

Other examples discussed included:

  • AI systems creating interactive 3D environments from simple prompts
  • Small businesses using AI to produce commercial-quality advertising content at significantly lower costs
  • Researchers using AI to accelerate scientific discovery and shorten development timelines
  • These examples demonstrate how AI is increasingly becoming embedded in everyday business operations.

 

The Infrastructure Behind AI

While much of the public attention remains focused on chatbots and software applications, a major infrastructure build-out is taking place behind the scenes.

Technology companies are investing heavily in:

  • Semiconductors
  • Servers
  • Data centres
  • Networking equipment
  • Energy infrastructure

This infrastructure provides the foundation required for AI systems to operate at scale.

A particularly important theme is the relationship between AI and energy demand. As AI adoption grows, data centres are expected to require substantially more electricity, potentially creating opportunities across utilities, energy production, and supporting infrastructure.

For investors, some of the beneficiaries of AI may therefore be the companies providing the "picks and shovels" required to build and power the ecosystem.

 

The Democratization of Knowledge

AI is also lowering barriers to innovation.

Tasks that once required specialized expertise in programming, mathematics, engineering, or scientific research can increasingly be supported by sophisticated AI tools.

Potential areas of impact include:

  • Drug discovery
  • Materials science
  • Software development
  • Engineering and design
  • Business productivity

Over time, the resulting productivity improvements could have implications across virtually every sector of the economy.

 

What Does This Mean for Investors?

AI remains a compelling long-term investment theme, but the path forward is unlikely to be smooth.

Periods of enthusiasm will likely be accompanied by periods of disappointment and volatility. Successful investing will require discipline, patience, and an understanding of where sustainable value is actually being created.

 

Active vs. Passive Investing

Passive strategies can provide broad exposure to AI-related growth, but they can also create exposure to businesses that may struggle to generate attractive returns on their substantial AI investments.

Active management can potentially help investors:

  • Differentiate between winners and losers
  • Manage volatility
  • Reduce unintended portfolio risks
  • Access emerging opportunities
  • Opportunities Beyond Technology
  • AI-related opportunities are not limited to semiconductor and software companies. Areas discussed during the webinar included:
  • Healthcare
  • Materials
  • Utilities
  • Infrastructure
  • Energy

Many of these sectors could benefit from the continued build-out and adoption of artificial intelligence.

 

Not All Companies Will Benefit Equally

Another important takeaway was that AI's impact will vary significantly from company to company, including within the same industry.

Some businesses could face disruption as AI replicates functions that previously differentiated their products. Others may successfully integrate AI into their platforms and create entirely new value propositions for customers.

The key lesson for investors is to avoid broad assumptions. AI is likely to create both winners and losers, making company-specific analysis increasingly important.

 

AI and the Workforce

Questions about AI's effect on employment naturally arose during the discussion.

In the short term, significant investment in AI infrastructure is creating demand across construction, engineering, energy, and data-centre development.

Over the longer term, some roles will change or disappear while new types of work are likely to emerge. One of the clearest messages from the webinar was that individuals who learn how to work effectively alongside AI may have a meaningful competitive advantage in the years ahead.

 

Key Investor Takeaways

  • AI is no longer simply a speculative concept. It is already influencing economic activity and corporate investment.
  • The market is moving from broad AI enthusiasm toward identifying individual winners and losers.
  • Opportunities extend beyond technology into healthcare, materials, utilities, infrastructure, and energy.
  • AI could become an important driver of productivity and innovation over the coming decades.
  • Investors should balance participation in innovation with diversification, valuation discipline, and thoughtful risk management.

 

Final Thoughts

Artificial intelligence is powerful, disruptive, and still in its relatively early stages.

While periods of volatility are inevitable, the opportunities created by this technological transformation could be substantial. For investors, the objective should not be to chase headlines or the latest market trend. Instead, it is to thoughtfully participate in innovation while maintaining a disciplined and diversified investment approach.

As this theme continues to evolve, our team remains committed to helping clients understand the opportunities, navigate the risks, and determine how emerging investment themes may fit within their broader financial plans.