He Got Canadian Energy Right. Here's What He's Saying Now

Cole Smead (0:03)

Karni is talking about all this stuff and pipes, and we have an MOU and all this stuff. We call that a paradigm shift. And it's a big paradigm shift.

Amber Kanwar (0:10)

The best performing stock picker on our show is back. Cole Smead has a knack for picking winners, especially in Canada and in the energy sector.

Cole Smead (0:17)

Are you getting the same multiple you got on capital? No, but they're creating way more cash with that capital today.

Amber Kanwar (0:22)

So it became a better business.

Cole Smead (0:24)

It's a better business today.

Amber Kanwar (0:25)

So still a pound the table buy. I'm going to make you answer this directly.

Cole Smead (0:29)

Murray likes dealing with your problems, not your success. And this is really dealing with success.

Amber Kanwar (0:33)

Athabasca was taken out, I guess, by Cenovus. It's not closed, but there's an offer on the table.

Cole Smead (0:39)

I don't think there's a chance there's another offer on the table. Why do we need to change our mind?

Amber Kanwar (0:43)

So there could be a world where you go to zero on energy.

Cole Smead (0:45)

Yeah.

Amber Kanwar (0:46)

Enbridge, question marks. It actually did pretty well after our Stampede show with the CEO, Greg Edel.

Cole Smead (0:50)

Yeah, which is a great show. He's now retired.

Amber Kanwar (0:52)

He's now retired. Yeah. Well, he peaked. He was on our show and he's like, well, there's nothing.

Cole Smead (0:56)

He's like, once I'm on In the Money, like I can retire.

Amber Kanwar (1:06)

For the past decade, Hamilton is focused on taking sophisticated investment ideas and turning them into ETFs that are simple, transparent and easy for Canadians to own. Now today, Hamilton is Canada's largest independent ETF provider with more than 17 billion dollars in assets under management. They've built a reputation for innovation across both growth and income. From the Hamilton Champions line up of growth-focused ETFs to their yield maximizer strategies designed to generate attractive monthly income. Hamilton ETFs has spent the past decade challenging convention, developing new investment solutions and making sophisticated strategies more accessible to everyday investors.

The content 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 the 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. On this episode, we discussed Canadian Natural Resources and Tamarack Valley, which are both stocks that I own.

Hey, everyone, welcome to your brand new episode of In the Money with Amber Kanwar. You're going to need time for this episode. Cole Smead is a storyteller, but I promise you those stories are worth it. He is one of our most popular guests. He's been on the most and he's been our top stock picker as of our midyear review. And part of how he's gotten that success is through Canadian Energy stocks. But this American fund manager can go anywhere. Actually, he's expanding here in Canada with a suite of new funds. And he talks to us about why he's not an energy investor per se, but it's just a really good business right now. He has outperformed the index and he's done that without holding any of the major tech stocks. He actually explicitly shuns them and he tells us what else around the world he likes, as well as a little bit of what would you say, Jillian? The view according to Cole Smead, the world view according to Cole Smead. Let's get into it.

Cole Smead, welcome back to the podcast.

Cole Smead (3:24)

Good to see you.

Amber Kanwar (3:25)

In Canada.

Cole Smead (3:26)

In Toronto.

Amber Kanwar (3:27)

How does it feel?

Cole Smead (3:28)

It's really good. You know, it's really fun to do business here.

You know, as I was mentioned before the show, there's a lot of people that we're running into and they're like, Oh, we've been reading your stuff for years. And it's like, cool. Like, you know, just a lot of fun stuff, a lot of relationship building, very fun. And I haven't spent a lot of time in Toronto. So I got to have some nice restaurants and things like that. And so a lot of fun.

Amber Kanwar (3:47)

You know, when I first met you, I thought, this guy's as American as it gets. And I don't know that they're, but you spend so much time thinking about Canada, talking about Canada, investing in Canada, criticizing Canada.