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In this week’s weekly investment research meeting, the team reviews the stellar performance of our alternative assets, including a 10x exit announcement by Alt PM Joseph Pochodyniak. We take a look at the current technical posture of the market, what happened this week, and what are the major economic indicators telling us. Topics include the S&P 500 (SPY), NASDAQ 100 (NDX, QQQ), Canadian stocks, along with a 30,000 foot view of gold and silver after the recent sell-off, copper, energy, natural gas and more. We look at the ongoing capital rotation towards defensive stocks, stretched valuations, the odd behaviour of market breadth, and geopolitical implications in 2026. Additional topics include crypto and the massive bitcoin sell-off, commodities, rates, and other areas. This discussion is for informational purposes only and does not constitute investment advice.
DAVID MACNICOL
B. Eng. Sci, CIM, FCSI
Founder & President, MacNicol & Associates Asset Management
David established MacNicol & Associates Asset Management Inc. in 2001, after an extensive 20-year career in the investment management business, working for Canada Trust, Cassels Blaikie / Citibank, Connor Clark and Cumberland Asset Management.
JOE POCHODYNIAK
CFA, Senior Portfolio Manager, MacNicol & Associates Asset Management
Joseph is a Senior Portfolio Manager at MacNicol & Associates focused on Real Estate, Private Equity, Hedge Funds and alternative asset class strategies. Joseph has over fifteen years of professional experience in asset management and private investment counseling.
GILBERT ENENAJOR
Manager of Business Development, U.S., MacNicol & Associates Asset Management
A trained lawyer and graduate of Osgoode Hall Law School, he spent over 6 years working with Ross Healy on valuation-focused research and client engagement, spearheading initiatives that drove unprecedented client growth and expanded the firm’s online presence. He now applies those same strategies to help bring Safe Harbour Investing to a US audience and expand MAAM’s foothold south of the border.
KEN REID
CIM, Associate Portfolio Manager, MacNicol & Associates Asset Management
Ken is an Associate Portfolio Manager at MacNicol focusing on North American mid and large cap equities. Ken previously was a public equity research associate at MAAM.
