Brendan Caldwell

It's already catching up. Look at today's news surrounding ORCL and pipeline delays. Energy is an input, and there's a cost to running all of this technology. There are a lot of challenges around energy.

There's a lot of demand for energy that's not going to stop. So the price of energy will continue to be robust, which won't necessarily be a terrible thing for Canada.

He's looking for companies that are able to raise their prices, and that have control over their own markets to a much greater degree. It'll be interesting to see what happens with the banks, Canadian ones in particular, which had a huge run earlier this year.

With this rising interest rate environment, it could be a good thing for the banks. They've done very well in a low-interest rate environment. Typically, falling rates are better for banks. It'll be interesting to see how the financial services sector does from here.

The high debt issue has just come home to roost today. ORCL just issued a force majeure (which sounds terribly serious). They borrowed all this money to build all these data centres for computing power. Political headwinds surround new data centres, especially if there's a change after the US midterms.

Not a lot of room for error. Priced assuming everything's going to work, without any black swan events (which are almost becoming predictable at this point).

Still fairly pricey, around 40x PE. 

See his Top Picks for a less expensive option.

Depends very much on the economy. Had a good run, pulled back in last couple of months. Base metal stocks will continue to do well if the economy keeps going, buildouts keep progressing, and global infrastructure continues to be an important theme over the next few years.

If you want to start a position today, buy a little bit (say, 20%). If it goes down you can say, "Thank goodness I didn't invest it all." If it goes up, say "Thank goodness I bought a little bit."

Drop probably due more to the outlook for the bond market in general than to the company specifically. His father's friend used to say, "The bond crop never fails." The end of a tech bubble would see a diminished market for that area of fixed income, but there will always be a market for bonds (especially from governments).

Seems not to have taken its eye off the ball after the post-pandemic swoon. Hasn't suffered the fate of so many other Canadian tech stories. Good way to participate in AI. Valuation's too high to include in his funds.

These partnerships can be a good thing. When a big company gets embroiled with an even bigger company, he wonders about the possibility that the smaller company will be taken over. The partnership could last forever. Or the bigger company could just take the technology and run with it, and that would be his concern.

The real growth area is keeping data centres cool. 

Leveraged way to play the volatility index. If you're buying, you're betting that volatility is going to spike.

Note that if you own any leveraged ETF for a long period of time, it's going to tend to deteriorate in price. Like the ante on a poker game, it's the cost to playing every single day. If you believe that the world is going to get a lot worse sometime very soon, this is an interesting way to play that.

When the VIX spikes, it really spikes. So you can see a very large price swing. But if nothing bad happens in the foreseeable future, you'll likely see the price whittle down.

He sold last October, probably too early. With the pullback, he'd probably look at it again.

Still a fan. Armed forces and security demand show no signs of slowing.

Doesn't own anymore because of the Middle East -- Iran conflict has derailed expansion plans.

Historically a cable company. Other communication stocks haven't been doing well, either. Some of them may have a turnaround as they benefit from AI, which has the possibility of being a lifeline as more data needs to run on the pipeline.

As a turnaround story, he prefers BCE. For a cable company, he prefers RCI.B.