War, Markets, and Why You Still Can’t Invest on Headlines

Hosts Josh Sheluk and Colin White discuss how wars and geopolitical conflict have historically affected markets, emphasizing the human tragedy while focusing on financial implications. They review major Middle East conflicts since 2000: Afghanistan (Oct 7, 2001), Iraq (Mar 20, 2003), the Syrian Civil War (Mar 15, 2011), the Yemeni Civil War (Sep 21, 2014), and the Oct 7, 2023 Israel conflict, and argue market outcomes were driven more by other forces (tech bubble collapse, European debt crisis, oil shocks, 2008 crisis) than by the conflicts themselves. They cite BCA Research finding only the 1973 Yom Kippur War/oil embargo clearly led to a bear market, noting today’s lower oil intensity and U.S. oil export position. They conclude rapid sentiment shifts make conflict “unreactable,” so investors should maintain resilient portfolios rather than adjust to headlines. Click here to view the episode transcript.

00:00 War And Bear Markets
01:01 Why Revisit War And Markets
02:31 Afghanistan 2001 And Tech Bust
06:54 Iraq 2003 And Recovery Years
09:13 Syria 2011 And Euro Debt Crisis
11:36 Yemen 2014 And Oil Shock Memories
13:46 Israel 2023 And The Big Picture
17:00 Why You Cant Trade Headlines
20:20 Incentives Oil And Global Pressure
22:39 The One War That Triggered A Bear
27:19 Fragility South Korea And Gold
29:11 Build A Resilient Portfolio
30:18 Contact Info And Disclosures

Gen Z, Retirement at 59, and the Math Behind the Despair

Hosts Josh Sheluk and Colin White discuss a retirement survey comparing generations and claiming Gen Z expects to retire around 59, earlier than millennials, Gen X, and boomers, despite low confidence and limited progress toward goals. They link younger cohorts’ despair to factors including housing affordability, career disruptions from COVID and inflation, and especially social media narratives, while arguing each generation faces different hardships and that millennials are now tracking ahead of Gen X at the same age. They emphasize retirement timing is often unrealistic and over-prioritized, advocating instead for financial independence, flexibility, and living a fulfilling life while acknowledging math still governs outcomes: delaying saving makes early retirement harder. They criticize the survey as marketing meant to shame people into saving, and suggest advisors should clarify what’s attainable and help clients stay accountable.Click here to view the episode transcript.

00:00 Gen Z Doom Spiral

00:10 Retirement Survey Reaction

02:17 Doomsday Fears and Growing Up

05:28 Millennials and Gen Z Headwinds

09:54 Retirement Math Reality Check

11:06 Retirement Isnt the Goal

13:24 FIRE Movement and Coasting Risks

15:33 Blame Pie Game Setup

16:43 Housing Experience and TikTok

20:26 What Actually Matters

26:24 Coaching Financial Independence

28:48 Social Media and Keeping Up

32:10 Optimism Despair and Marketing

34:34 No Generation Needs Saving

37:47 Wrap Up and Disclosures

2026 "Predictions": AI Spend, Prediction Markets, Speculation, ETF Flood, Gold, Analysts, and the USD

Josh Sheluk and Colin White (Verecan Capital Management) deliver a tongue-in-cheek style 2026 predictions episode, repeatedly stressing the forecasts are not investable. They expect more clarity on whether the hundreds of billions spent building AI infrastructure will pay off, with Colin suggesting over 50% of early AI investment may “disappear” within 18 months as hype fades. They predict prediction markets (Polymarket, Kalshi) will surge, debate whether regulation will quickly constrain them, and highlight how easily bets can be manipulated. They predict speculative assets - unprofitable/no-revenue companies, AI/quantum themes, crypto, meme/alt coins - will be punished as risk appetite shifts. Josh predicts 2026 will set a record for new ETF launches (citing 300+ launched in Canada in 2025) and criticizes the growth of low-quality and leveraged/inverse products. Over a 10-year horizon, Josh predicts infotech and the S&P 500 won’t be the top performers, citing infotech’s large S&P weight and the U.S.’s large share of global market cap. Josh says gold is essentially unpriceable and unpredictable; Colin predicts gold won’t match its 2025 performance. Josh predicts sell-side S&P 500 targets clustered around ~8–10% will be wrong again and argues herding explains the forecasts. They also discuss the U.S. dollar potentially staying weak amid uncertainty, mean reversion, and a likely 2026 debate over Federal Reserve independence and leadership changes. The episode closes with a call for audience predictions, a note on advisor compensation transparency, contact details, and standard disclaimers.Click here to view the episode transcript.

00:00 Introduction to Barenaked Money
00:55 Predictions for 2026: AI Capital Expenditures
05:40 The Rise of Prediction Markets
13:20 Speculative Investments in 2026
16:58 The ETF Explosion
20:02 Long-Term Predictions
20:11 Sector Predictions for 2026
20:48 The Dominance of Infotech
23:53 Rare Earths and Commodities
24:37 Gold Predictions and Market Psychology
28:00 Analysts' Predictions and Market Trends
31:08 The Future of the US Dollar
37:26 Final Thoughts and Viewer Engagement
37:57 Disclaimer and Closing Remarks

Predicting the Unpredictable: 2025 Financial Forecast Recap and 2026 Outlook on Barenaked Money

In this special edition of Barenaked Money, hosts Josh Sheluk and Colin White of Verecan Capital Management, Inc. recap their 2025 financial predictions and assess their accuracy. Yes, it's a little late for a 2025 recap and that's ok. The episode features a mix of amusing self-reflection and serious analysis as they prepare for their 2026 predictions. Highlights include discussions on tariffs, Trump’s Department of Government Efficiency, market corrections, day trading trends, and the surprising economic resilience despite anticipated recessions. They emphasize the challenges and pitfalls of making market predictions, concluding with a commitment to cautious and diversified investment strategies.Click here to view the episode transcript.

00:00 Introduction and Overview
00:41 Recap of 2025 Predictions
01:25 Tariffs and Economic Predictions
05:55 Market Trends and Surprises
09:14 Bond Market Performance
12:49 Stock Market Analysis
14:49 Leveraged ETFs and Day Trading
19:48 Canadian Economy Insights
22:19 Investment Strategies and Final Thoughts
28:00 Conclusion and Disclaimers

Challenging Economic Norms and Investment Strategies with Paul Musson

In this episode of Barenaked Money, hosts welcome guest Paul Musson, an old friend and former financial industry colleague. Paul discusses his new book 'Capital Offense: Why Some Benefit at Your Expense,' which explores economic and monetary theories behind current financial systems and their flaws. They delve into the importance of understanding economic fundamentals, the role of central banks, and the concept of 'good deflation.' Paul also shares his personal investment philosophy focusing on high-quality equities, diversification, and the challenges of staying disciplined in a volatile market. The conversation raises provocative questions about inflation targets, the role of Bitcoin, and the sustainability of current financial practices.Click here to view the episode transcript.

00:00 Debunking the 2% Inflation Myth

00:09 Introduction to Barenaked Money Podcast

00:17 Meet Paul Uson: From Corporate to Independent

01:19 Paul's Book: Capital Offense

01:56 Understanding Economic and Monetary Theory

07:10 The Role of Government and Finance in the Economy

13:52 Investment Strategies and Diversification

25:25 The Debate on Bitcoin and Asset Classes

28:09 Comparing the Tech Bubble to the AI Boom

34:33 The Case for Good Deflation

37:45 Conclusion and Next Steps

Challenging Financial Norms: A Conversation with Rob Carrick on the Future of Financial Advice

In this episode of Barenaked Money, hosts engage with Rob Carrick, a seasoned finance columnist and personal finance expert, to discuss transformative changes in the financial advice industry. They explore Carrick's views on controversial topics such as housing markets, Canada’s household debt, and the need for a fiduciary standard in financial advising. They also delve into the democratization of investing, changes in personal finance trends, and the impact of societal pessimism on financial decision-making. The discussion highlights the evolution and challenges of financial advising, stressing the importance of personalized advice, financial planning, and client-centric fiduciary standards. Click here to view the episode transcript.

00:00 🎬 Introduction: Fixing Financial Advice in Canada
00:00 Introduction and Guest Introduction
00:17 👤 Meet Rob Carrick: Personal Finance Expert
00:57 Rob's Polarizing Career
00:57 📝 Rob's Career and Polarizing Opinions
02:30 Controversial Topics: Housing Market
02:49 🏡 Controversial Views on Housing
06:20 Canada's Debt Crisis
06:20 💸 Canada's Household Debt Crisis
10:26 Trends in Personal Finance
10:26 📈 Trends in Personal Finance and Investing
16:07 Generational Pessimism and Economic Outlook
16:38 😟 Pessimism and Economic Anxiety
19:31 🧑‍💼 Gen Z's Financial Frustrations
21:22 The Financial Impact of Gen Z's Attitude
21:22 The Financial Impact of Gen Z's Attitude
22:05 The Global Negative Sentiment
22:05 The Global Negative Sentiment
22:54 Inflation and Its Effects
22:54 Inflation and Its Effects
24:21 Employment and Economic Opportunities
24:21 Employment and Economic Opportunities
26:02 The Role of Media in Financial Education
26:10 Challenges in Personal Finance Advice
27:28 Personal Finance Challenges and Solutions
32:43 The Importance of Financial Planning
32:43 The Importance of Financial Planning
36:00 The Fiduciary Standard in Financial Advice
36:00 The Fiduciary Standard in Financial Advice
39:01 Conclusion and Final Thoughts
39:01 Conclusion and Final Thoughts

Investing in AI: Separating Hype from Reality

In this episode of Barenaked Money, the hosts dive deep into the investment landscape of artificial intelligence (AI). The discussion begins by highlighting Nvidia's unprecedented $5 trillion market cap, as well as the overall impact of AI on the stock market. Guests Matt and Maria from the Verecan team provide insights on how to separate AI technology from AI investments. They explore the challenges of ensuring profitability amid the fast-paced adoption of AI and discuss the potential returns versus the high expectations and valuations seen today. The discussion covers the spending habits of tech giants, the performance fluctuations of AI-related stocks, and anecdotes that illustrate the current complexities and future prospects of AI investments. The episode aims to provide a balanced view of AI's impact on both market valuations and broader economic growth, emphasizing careful and research-driven investment strategies in the AI domain. Click here to view the episode transcript.

00:00 Nvidia's Market Cap Milestone
00:23 Introduction to Barenaked Money Podcast
01:06 AI: The Hottest Topic of the Year
01:54 AI Technology vs. AI Investment
04:24 The Financial Implications of AI
07:06 Valuations and Market Expectations
09:01 Is AI a Bubble?
12:43 Caution in AI Investments
16:36 The Capital Expenditure Shift
18:20 Comparing AI to the Dotcom Bubble
24:02 Market Cap Rollercoaster
24:39 AI's Impact on Market Valuations
25:42 Oracle's Unexpected Rise and Fall
28:19 The Reality of AI Investments
31:23 Optimism and Skepticism in AI
36:24 Final Thoughts and Advice
41:21 Podcast Conclusion and Disclaimers

The Unseen Complexities of Powers of Attorney and Estate Planning

In this episode of 'Barenaked Money,' returning guest Jonathan Hooper delves into the intricate world of powers of attorney, offering essential advice on appointing the right person for the role. The discussion covers the types of powers of attorney, including immediate and deferred, and their specific functions in managing your financial and property-related decisions. Jonathan also highlights the potential pitfalls and legal constraints that can arise, emphasizing the importance of trust and capability in chosen representatives. The podcast underscores the necessity of professional advice and transparent conversations within family dynamics to ensure a seamless transition and avoid costly legal disputes posthumously.

Click here to view the episode transcript.

00:00 Introduction: Choosing the Right Power of Attorney
00:31 Welcome Back: Guest Introduction
01:31 Understanding Powers of Attorney
02:19 Types of Powers of Attorney
05:02 Responsibilities and Limitations of a Power of Attorney
05:49 Executor vs. Power of Attorney
08:40 Common Pitfalls and Misconceptions
11:26 Planning and Legal Considerations
21:43 Avoiding Probate and Tax Implications
25:54 Legal and Relational Risks in Estate Planning
28:23 The Complexity of Provincial and Federal Regulations
30:00 Choosing the Right Power of Attorney
33:38 Professional Options for Power of Attorney
36:53 The Emotional and Practical Challenges of Estate Planning
42:56 The Importance of Professional Advice
48:14 Conclusion and Final Thoughts