Art of Boring
Episodes
U.S. Mid-Cap Resilience: Beyond the Headlines | EP 204
10 Dec 2025
Contributed by Lukas
U.S. mid-cap equities are often overlooked, but beneath the headlines of consumer weakness and market volatility, there's a more nuanced story. Portfo...
Credit Markets: Caution, Compression, and Opportunity | EP 203
26 Nov 2025
Contributed by Lukas
On this episode of The Art of Boring, Global Credit Portfolio Manager Brian Carney unpacks what he believes are some of the most pressing issues in cr...
International Equity: AI Enablers, Competitive Strength, Portfolio Resilience | EP 202
05 Nov 2025
Contributed by Lukas
In this episode, portfolio manager Peter Lampert discusses the evolving landscape of international equities, with a special focus on the portfolio's e...
Global Equity Update: Collaboration, Diversification, and Staying in the Middle of the Net | EP 201
29 Oct 2025
Contributed by Lukas
Paul Moroz returns to share an update on our global equity strategy. We dig into what's changed since Paul resumed the lead portfolio manager role, ho...
Quarterly Update | Q3 2025 | EP 200
10 Oct 2025
Contributed by Lukas
In this episode, we sat down with our Director of Research, Vijay Viswanathan, and Institutional Portfolio Manager, Kevin Minas, to talk through their...
The Canadian Bond Balancing Act: Trade Policy, Central Banks, and Economic Growth Impacts | EP 199
06 Oct 2025
Contributed by Lukas
In this episode, Fixed Income Portfolio Manager Crista Caughlin breaks down the macro forces driving bond markets in 2025. From trade uncertainty to c...
Patience and Progress: Navigating Japan's Investment Terrain | EP 198
01 Oct 2025
Contributed by Lukas
Equity analyst Ian Turnbull shares insights from his latest trip to Japan, highlighting the unique aspects of Japanese society and corporate culture. ...
From Invisible Hand to Heavy Hand: Government Stakes, AI, and the Shifting CapEx Cycle in U.S. Markets | EP 197
17 Sep 2025
Contributed by Lukas
In this episode, U.S. Equity Portfolio Manager Grayson Witcher explores the evolving intersection of government policy, innovation, and capital expend...
Convergence and Complacency: Today's Credit Markets | EP 196
27 Aug 2025
Contributed by Lukas
Brian Carney, lead portfolio manager of the global credit opportunities strategy, explores the current credit market environment characterized by tigh...
From Inventory to Innovation: Canadian Small Caps in Focus | EP 195
06 Aug 2025
Contributed by Lukas
In this episode equity analyst Dominic Drzazga discusses the current state of Canadian small caps, highlighting how geopolitical volatility creates bo...
Back to the Future: Global Equity | EP 194
30 Jul 2025
Contributed by Lukas
Paul Moroz returns to The Art of Boring podcast after three years, discussing his reappointment as lead manager of Mawer's global equity strategy. Pau...
Quarterly Update | Q2 2025 | EP 193
10 Jul 2025
Contributed by Lukas
In this episode Canadian bond portfolio manager, Crista Caughlin, and balanced portfolio manager, Steven Visscher discuss Q2's market and economic act...
Customizing the Last Mile: AI, Innovation, and Mawer's Tech Evolution | EP 192
25 Jun 2025
Contributed by Lukas
In this episode, Justin Anderson, Mawer's Chief Technology Officer, sits down to discuss the evolving "build-in vs. build-out" technology framework. J...
Energy, Gold, and Growth: Current Insights on Canadian Markets | EP 191
11 Jun 2025
Contributed by Lukas
Mark Rutherford, co-manager of Mawer's Canadian large cap strategy, discusses the ongoing volatility in oil, the unique role of gold, the outlook for ...
Finding Hidden Gems in Emerging Markets | EP 190
04 Jun 2025
Contributed by Lukas
Join Peter Lampert, Portfolio Manager of Mawer's Emerging Markets strategy, as he takes you on a journey from Polish meat counters to UAE boardrooms, ...
Navigating Uncertainty: Global Small Caps, Process Innovation, and AI at Mawer | EP189
22 May 2025
Contributed by Lukas
In this episode, Karan Phadke, Portfolio Manager for Mawer's global small cap strategy, shares insights on how small caps are navigating trade policy ...
The Long View: Global Equity Positioning in Uncertain Markets | EP188
30 Apr 2025
Contributed by Lukas
In this episode, global equity co-manager, Manar Hassan-Agha, examines how tariff policies have created uncertainty for businesses, particularly impac...
Investment Opportunities in a Changing Military Landscape | EP187
23 Apr 2025
Contributed by Lukas
In this episode, we discuss the defense industry's evolution with equity analyst Joshua Samuel. He highlights the historical underinvestment in Europe...
Finding Silver Linings: International Investing Through Trade Policy Turbulence | EP186
16 Apr 2025
Contributed by Lukas
In this episode, portfolio manager, Peter Lampert discusses international equities and the impact of tariffs on portfolio management. He provides insi...
Quarterly Update | Q1 2025 | EP185
10 Apr 2025
Contributed by Lukas
In this Quarterly episode, Crista Caughlin, lead portfolio manager for Canadian bonds, and Jeff Mo, lead portfolio manager for U.S. midcaps, discuss m...
Market Update: April 8, 2025 | EP184
08 Apr 2025
Contributed by Lukas
Mawer President and portfolio manager, Jim Hall, discusses the current market environment and the team's approach to risk management. The conversation...
When Tariff Waves Crash: Maintaining Course in Volatile Markets | EP183
04 Apr 2025
Contributed by Lukas
In this episode, U.S. mid cap equity portfolio manager, Jeff Mo, discusses the market's sharp sell-off following President Trump's announcement of wid...
U.S. Equity Insights: The Impact of Policy Shifts and AI | EP182
26 Mar 2025
Contributed by Lukas
In this episode, we discuss the early months of the new U.S. administration with Grayson Witcher, lead portfolio manager for the U.S. equity strategy ...
Credit Markets: Risks, Rewards, and the Road Ahead | EP181
12 Mar 2025
Contributed by Lukas
In this episode, we discuss credit markets with Brian Carney, lead portfolio manager of the Mawer Global Credit Opportunities strategy. Brian touches ...
A "Balanced" Perspective Amid High Uncertainty | EP180
26 Feb 2025
Contributed by Lukas
In this episode, balanced portfolio manager, Steven Visscher, covers 2024 performance, asset allocation decisions, trade uncertainty, potential tariff...
Navigating Tariff Tensions in Canada: Risks and Opportunities | EP179
13 Feb 2025
Contributed by Lukas
In this episode, we discuss the escalation of U.S./Canada tariff tensions with Mark Rutherford, co-manager of Mawer's Canadian equity strategy. Mark p...
Quarterly Update | Q4 2024 | EP178
21 Jan 2025
Contributed by Lukas
In this episode, we discuss 2024's economic landscape and what to expect in 2025, with Crista Caughlin, lead portfolio manager of the Mawer Canadian b...
Canadian Equity: 2024 Overview and Looking Ahead to 2025 | EP177
15 Jan 2025
Contributed by Lukas
In this episode we discuss the Canadian equity market with Mark Rutherford, co-manager of Mawer's Canadian equity strategy. Mark highlights the key dr...
Why Invest Outside of the U.S.? The Benefits of EAFE Large Cap | EP176
23 Dec 2024
Contributed by Lukas
In this episode, we discuss Mawer's EAFE large cap portfolio with Ian Turnbull, an equity analyst at Mawer. Ian explores the portfolio's diversificati...
Maintaining an All-Weather Strategy: The U.S. Mid Cap Equity Landscape | EP175
13 Dec 2024
Contributed by Lukas
In this episode, we discuss the U.S. mid-cap landscape with Jeff Mo, manager of the U.S. mid cap equity strategy at Mawer. Jeff touches on risk manage...
Opportunities and Watchpoints: A Deep Dive into Global Credit | EP174
03 Dec 2024
Contributed by Lukas
In this episode, we discuss key trends and positioning in credit markets with Brian Carney, lead portfolio manager of the Mawer global credit opportun...
The "S&P 493": Managing Risks and Opportunities in the Global Equity Strategy | EP173
28 Nov 2024
Contributed by Lukas
In this episode, we discuss the global equity strategy with Christian Deckart, chief investment officer and portfolio manager at Mawer. Christian stre...
Navigating Market Complexities: Insights from the Trading Desk | EP172
26 Nov 2024
Contributed by Lukas
In this episode, we discuss market insights with two representatives from the trading desk: Rita Tien, who trades the Americas from Toronto, and Peter...
Banks Around the World: What Makes Top Financial Institutions Stand Out | EP171
06 Nov 2024
Contributed by Lukas
In this episode, Mawer portfolio managers and analysts discuss what they fundamentally look for in a bank as an investment. Specifically, how they vie...
China in Focus: Traversing the Emerging Markets Landscape | EP170
23 Oct 2024
Contributed by Lukas
In this episode, Peter Lampert, lead portfolio manager of the International Equity Strategy, discusses the recent Chinese stimulus and its effects on ...
Looking Past the Pitfalls: Focusing on Managing Risk in the Balanced Portfolio | EP169
17 Oct 2024
Contributed by Lukas
In this episode, Steven Visscher, lead manager of the balanced strategies, discusses the impact of rising interest rates and inflation on the balanced...
Quarterly Update | Q3 2024 | EP168
15 Oct 2024
Contributed by Lukas
Portfolio Manager Crista Caughlin discusses the economy and factors that drove markets in the third quarter of 2024. Key points from this episode: In...
Semiconductors, GLP-1s, and Defense Companies: Powering the International Equity Strategy | EP167
03 Oct 2024
Contributed by Lukas
In this episode, Peter Lampert, lead portfolio manager of the International Equity Strategy, provides insights on the team's investment process, the s...
The U.S. Equity Landscape: Inflation, Artificial Intelligence, and Elections | EP166
26 Sep 2024
Contributed by Lukas
In this episode, Grayson Witcher, the lead manager of the U.S. Equity Strategy, discusses the key drivers currently impacting the U.S. economy, includ...
Skyscrapers and Storefronts: Insights on the Commercial Real Estate Market in 2024 | EP165
29 Aug 2024
Contributed by Lukas
In this episode of the podcast, credit analyst Curtis Elkington provides a comprehensive overview of the $50 trillion global commercial real estate ma...
Recession Fears and Credit Spreads: A Comprehensive Fixed Income Update | EP164
14 Aug 2024
Contributed by Lukas
In this episode, Crista Caughlin, lead Portfolio Manager of the Canadian Bond Strategy, and Brian Carney, lead Portfolio Manager of the Global Credit ...
Navigating the Canadian Equity Landscape: Dispersion, Energy Transition, and Opportunities | EP163
31 Jul 2024
Contributed by Lukas
In this episode of the podcast, Mark Rutherford, Co-Manager of the Canadian large-cap equity strategy, discusses the current investment landscape in C...
Marbles and Billiards: Navigating the Highs and Lows in Global Equity | EP162
24 Jul 2024
Contributed by Lukas
In this episode, Portfolio Manager Manar Hassan-Agha discusses how the Global Equity Team navigates an exuberant market environment while staying true...
Quarterly Update | Q2 2024 | EP161
17 Jul 2024
Contributed by Lukas
Portfolio Manager Crista Caughlin discusses the economy and factors that drove markets in the second quarter of 2024. Key points from this episode: B...
Navigating the U.S. Mid-Cap Landscape: Resilience Amid Uncertainty | EP160
11 Jul 2024
Contributed by Lukas
In this episode, Portfolio Manager Jeff Mo makes the case for investing in U.S. mid-cap equities, highlighting the country's strong business environme...
From Buy to Bye: Sell Discipline and Overcoming Behavioral Biases | EP.159
26 Jun 2024
Contributed by Lukas
In this episode, Portfolio Manager Jeff Mo discusses common behavioral biases that can hinder clear sell decisions, and the tools, such as checklists ...
Watts Up? The Challenges and Opportunities of Powering AI | EP158
19 Jun 2024
Contributed by Lukas
In this episode, we explore the growing electricity demands of data centers stemming from artificial intelligence (AI) with Chris Silvestre, Analyst o...
Navigating Global Small Caps in an AI-Transformative World | EP157
12 Jun 2024
Contributed by Lukas
Portfolio Manager Karan Phadke discusses his views on the global markets and the performance of the global small-cap portfolio. He illustrates how bus...
U.S. equity: Capitalizing on innovation and protecting against pitfalls | EP156
22 May 2024
Contributed by Lukas
In this episode, Portfolio Manager Colin Wong shares strategic insights on disruptive technologies and recent adjustments in the U.S. equity portfolio...
Fishing in Less Crowded Ponds: Identifying opportunities in Emerging Markets | EP155
16 May 2024
Contributed by Lukas
Portfolio Manager Wen Cheong debunks the perceived challenges of investing in the emerging market space, highlighting his team's concentrated approach...
A deep dive into the psychological approach to finding opportunity | EP154
08 May 2024
Contributed by Lukas
Building on his conversation in Episode 153, Portfolio Manager Samir Taghiyev takes a deep dive into the mental models and frameworks that Mawer uses ...
Moody Mr. Market: Finding opportunities in the Canadian small-cap space amid changing market psychology | EP153
02 May 2024
Contributed by Lukas
Portfolio Manager Samir Taghiyev discusses the current landscape of the Canadian small-cap space through the lens of the "Mr. Market" narrative and cr...
Quarterly Update | Q1 2024 | EP152
16 Apr 2024
Contributed by Lukas
As markets continue on a dynamic trend, fixed income portfolio manager Crista Caughlin discusses the economy and factors that drove markets in the fir...
Why Position Size Matters in Investing | EP151
28 Mar 2024
Contributed by Lukas
Portfolio Manager Manar Hassan-Agha discusses the importance of position sizing in investing and how factors like behavioural biases, market structure...
Playing the plan: Mawer's International equity portfolio | EP150
06 Mar 2024
Contributed by Lukas
Portfolio Manager Peter Lampert breaks down the decision to re-open the strategy to new institutional investors and the key inputs that determine the ...
Post-Mortem: Learnings from 2023 | EP149
29 Feb 2024
Contributed by Lukas
In this episode, host Rob Campbell and 11 colleagues on the research team engage in a comprehensive post-mortem analysis, sharing candid reflections o...
Introducing: The Mawer Global Credit Opportunities Strategy | EP148
31 Jan 2024
Contributed by Lukas
In this episode, newly appointed Fixed Income Portfolio Manager at Mawer, Brian Carney, shares his insights on global credit strategies. With over 30 ...
Global Equities: Moneyball, Weighing Decisions, and Finding an Edge | EP147
24 Jan 2024
Contributed by Lukas
In this episode, Manar Hassan-Agha, co-manager of the Global Equity Strategy, joins host Rob Campbell to discuss applying the 'Moneyball' process in e...
Quarterly Update | Q4 2023 | EP146
16 Jan 2024
Contributed by Lukas
In this episode, Kevin Minas sits down with Crista Caughlin, Lead Portfolio Manager at Mawer, focusing on the key economic developments of Q4, includi...
EAFE Equities: Japan, Interest Rates, and Managing Volatility | EP145
07 Dec 2023
Contributed by Lukas
In this episode, Dave Ragan, co-manager for the EAFE large-cap strategy, speaks on the current state and future prospects of EAFE markets. He delves i...
Emerging Markets: Recent Rebound, China, and New Opportunities | EP144
23 Nov 2023
Contributed by Lukas
Portfolio Manager Peter Lampert dives into the world of emerging markets, sharing what's changed for the portfolio since last year, insights on where ...
Beyond AI: Other Technology Trends | EP143
09 Nov 2023
Contributed by Lukas
Today on the podcast, Equity Analyst Michael Vogel discusses the importance of analyzing technological shifts beyond artificial intelligence and how t...
Quarterly Update | Q3 2023 | EP142
17 Oct 2023
Contributed by Lukas
A recap of the quarter and our thoughts on the hard vs. soft landing debate. Highlights: Main drivers of the market pullback Inflation's persistent "...
Canadian Equities: Inflation, Interest Rates, and Decision Making | EP141
12 Oct 2023
Contributed by Lukas
Main themes impacting the portfolio and the benefits of systematically tracking investment decisions. Highlights: Valuation considerations in a highe...
U.S. Mid Cap Equities: Tech, Regional Banks, and Valuation | EP140
20 Sep 2023
Contributed by Lukas
A look at the strategy a year on and why we think valuation should be more top of mind for investors. Highlights: Influence of big tech stocks on the...
Global Equities: Scuttlebutt, Reverse Roadshows, and Bathroom Lists | EP139
24 Aug 2023
Contributed by Lukas
How we approach finding new ideas in the widest investment universe. Highlights Eagles and vultures mental model—why idea generation is better enab...
Vulnerabilities vs. Triggers | EP138
02 Aug 2023
Contributed by Lukas
Unpacking one of our key mental models around investing and managing risk. Highlights: What we mean by "non-predictive decision making" Examining th...
Quarterly Update | Q2 2023 | EP137
19 Jul 2023
Contributed by Lukas
Market drivers that stood out this quarter, where inflation is at, and an asset mix update. Highlights: How markets have been climbing a "wall of wor...
International Equities: Insights from the Road | EP136
06 Jul 2023
Contributed by Lukas
Top highlights from the team's recent research trips and a few business models we're excited about. Highlights: Insights from visiting Norway, the...
Global Small Caps, Engaged Owners, and Reverse Roadshows | EP135
21 Jun 2023
Contributed by Lukas
A deep dive into key themes we've been focusing on, recent additions to the portfolio, and a few changes. Highlights: Quick recap: What has change...
U.S. Equities: ChatGPT, Banks, and Earnings | EP134
24 May 2023
Contributed by Lukas
Why management teams matter, energy companies rarely meet our investment criteria, and JPMorgan and State Street differ from many regional banks. H...
The Epistemology of Investing: A Near Insurmountable Challenge | EP133
27 Apr 2023
Contributed by Lukas
Why genuine knowledge building and the ability to learn effectively in investing is difficult, and how we try to work around those challenges. High...
Quarterly Update | Q1 2023 | EP132
19 Apr 2023
Contributed by Lukas
The major themes of the quarter, where we are in the interest rate hike cycle, and our thoughts on the recent banking crisis. Highlights: The slow...
Canadian Small Caps, Energy, Risk Management, and Assessing Management Teams | EP131
12 Apr 2023
Contributed by Lukas
This episode, we discuss our seven-point management assessment framework (with examples), our risk management approach, and overall thoughts on energy...
Emerging Markets: What happened in 2022, and where are we at? | EP130
15 Mar 2023
Contributed by Lukas
Digging into last year's performance drivers, the current opportunity set, and benefits of resuming boots-on-the-ground research. Highlights: A re...
Inflation's One-Two Punch | EP129
01 Mar 2023
Contributed by Lukas
The nuanced impacts of inflation to companies' balance sheets that investors might be missing. Highlights: How inflation can present major challen...
Post-Mortem: Learnings from 2022 | EP128
22 Feb 2023
Contributed by Lukas
Chief Investment Officer Paul Moroz shares takeaways from the Research team's annual post-mortem discussions. Highlights: The cyclical—and long-...
Is the 60/40 Portfolio Dead? And more fixed income questions answered | EP127
08 Feb 2023
Contributed by Lukas
Portfolio Manager Crista Caughlin walks listeners through the tumultuous bond market experiences of 2022 and outlines three main economic scenarios th...
Europe, Energy, ESG: Observations from the road | EP126
25 Jan 2023
Contributed by Lukas
Some of the main challenges facing the continent, what we gleaned from visiting over 45 companies, and ESG considerations that are front of mind for m...
Quarterly Update | Q4 2022 | EP125
16 Jan 2023
Contributed by Lukas
A review of last quarter, the major themes and takeaways from 2022, and what's on the horizon for the new year. Highlights: How we did—and what fa...
S-Curves and the Adoption Cycle | EP124
28 Dec 2022
Contributed by Lukas
What investors can learn from the s-curves of technologies both old and new. Highlights How S-curves relate to TAM (total addressable market)—and ...
Playing the plan: Mawer's Canadian equity portfolio | EP123
14 Dec 2022
Contributed by Lukas
What we think about the newly proposed tax on share buybacks in Canada, a balanced take on the energy theme, and where we've trimmed, exited, and adde...
The art of discount rates | EP122
23 Nov 2022
Contributed by Lukas
How do investors figure out what a company is worth? (Especially in a higher inflationary and interest rate environment?) Highlights Why doing a q...
What the end of Moore's Law means for the semiconductor industry | EP121
16 Nov 2022
Contributed by Lukas
A deep dive—right to the atomic level—of how semiconductors work and the potential implications for the industry when Moore's Law comes to an end....
Playing the plan: Mawer's U.S. equity portfolio | EP120
09 Nov 2022
Contributed by Lukas
The deglobalization shift, long-term opportunities we're seeing in utilities, and what's interesting about gravel. Highlights: Impacts of currency s...
Playing the plan: Mawer's global equity portfolio | EP119
26 Oct 2022
Contributed by Lukas
The "Swiss cheese" mental model for risk management, why we initiated in Moderna, and how to test if you have a variant perception from the broader ma...
Quarterly Update | Q3 2022 | EP118
18 Oct 2022
Contributed by Lukas
Market swings, central bank moves, and rising interest rates. A look at Q3.
Playing the plan: Mawer U.S. mid cap equity portfolio | EP117
07 Sep 2022
Contributed by Lukas
What makes the U.S. mid cap investable universe unique, some key learnings since the strategy's launch, and how inflation can be a "positive" for weal...
Playing the plan: Mawer's global small cap portfolio | EP116
24 Aug 2022
Contributed by Lukas
Why small caps may zig while large caps zag, the advantage of businesses that sell scarce skills (CBIZ, Insperity, RS Group), and why eyewear retail i...
Playing the plan: Mawer's international equity portfolio | EP115
03 Aug 2022
Contributed by Lukas
The impacts of inflation, interest rates, and sharp currency movements on the portfolio, and the importance of leaning in to process and keeping a lon...
An energy-fuelled debate: Are renewables actually becoming cheaper? | EP114
20 Jul 2022
Contributed by Lukas
The team debates the thesis that renewables are becoming "cheaper" than traditional energy sources, unpacks why the ultimate cost to the end consumer ...
Quarterly Update | Q2 2022 | EP113
13 Jul 2022
Contributed by Lukas
Inflation, interest rates, the valuation correction, bias creep, and "sticking to our knitting." A full dive into Q2.
How to make (good) decisions | EP112
29 Jun 2022
Contributed by Lukas
CIO Paul Moroz unpacks the foundational components to better decision making for investing, business, and life.
Playing the plan: Mawer's Canadian bond portfolio | EP111
22 Jun 2022
Contributed by Lukas
Lead Portfolio Manager, Crista Caughlin, on what's happening in bond markets, a look at inflation and interest rates, and the key scenarios we're moni...
Playing the plan: Mawer's Canadian equity portfolio | EP110
08 Jun 2022
Contributed by Lukas
Opportunities and risks we're seeing in energy, rail, and financials; why we exited Shopify; and a few team learnings.
Deep dive: DevOps | EP109
25 May 2022
Contributed by Lukas
What DevOps is and why it's a theme with investment potential.
Creativity vs. Frameworks: How to build a better decision-making environment | EP108
11 May 2022
Contributed by Lukas
On building a "global investment franchise" and balancing the trade-offs between creativity, efficiency, and process to build a consistent environment...
Playing the plan: Mawer's emerging markets equity portfolio | EP107
27 Apr 2022
Contributed by Lukas
Russia, the potential parallels to Taiwan and China, and macro to micro portfolio considerations in an inflationary environment.
Quarterly Update | Q1 2022 | EP106
20 Apr 2022
Contributed by Lukas
iTunes: CIO Paul Moroz shares his take on what's happening in the markets, some of the underlying factors behind recent performance, and a reminder ...
Playing the plan: Mawer's U.S. equity portfolio | EP105
13 Apr 2022
Contributed by Lukas
Portfolio Managers Grayson Witcher and Colin Wong share market observations, industries where fundamentals are shifting, and a few recent additions to...