What does the Venezuela fallout mean for Canada, oil markets and for investors trying to stay ahead of the noise? On this episode of In the Money with Amber Kanwar, we tackle the geopolitical shock head-on — and separate real risk from market overreaction.Amber begins with veteran investor Frances Horodelski, setting the scene on Venezuela’s sudden return to the global spotlight. From supply/demand fears to trade dynamics, central banks, and Canada’s bargaining position, Frances explains why some headlines matter — and why others fade faster than investors expect.Then it’s time to put theory into practice. Cole Smead of Smead Capital Management joins Amber to break down what the Venezuela fallout actually means for portfolios today. Are Canadian energy stocks suddenly broken? Is this a reason to rotate into U.S. producers? Or is this another moment where fear creates opportunity for disciplined investors?It’s a clear-eyed conversation about geopolitics, energy, and investor psychology — and a reminder that the market’s first reaction is rarely the final verdict.Timestamps00:00 Show intro03:30 Looking at the Canadian energy patch pre and post Venezuela invasion06:00 The oil making its way to the Gulf Coast is not a lot of oil 07:00 It will take a very long time to get the oil out of Venezuela 08:30 Is Canada’s bargaining power screwed?11:00 Is Venezuela a domestic issue because it will lower oil prices?12:30 What about Canadian banks in Latin America?14:40 What does it mean for the gold price? 16:30 Where can investors hide? 18:00 What about other commodities?20:20 The world changes when consequential people are in power23:00 Cole Smead ‘this too will pass’, why Cole still likes Canadian energy26:00 Pipeline pressure and supply and demand30:45 What does it mean for U.S. energy?34:30 What is the ideal tilt for a portfolio?37:40 Cole is running toward Canadian heavy oil 40:00 Time to sell or find a way to profit?44:20 Could this mean more M&A in the Canadian energy patch?49:00 Will this catalyze action around a pipeline?53:15 What comes next around the world?57:40 Is there a world where Canadian producers go to Venezuela?59:30 Cole’s high-conviction ideasSponsorsFor over 25 years, Raymond James has been helping Canadians achieve their financial goals. Visit https://raymondjames.ca today to discover how you can live a life well planned.Pro Picks is brought to you by ATB Financial. Visit https://ATB.com/inthemoney for more informationLinkshttps://inthemoneypod.com/ https://instagram.com/inthemoneypodhttps://facebook.com/profile.php?id=61569721774740 https://twitter.com/inthemoneypod https://tiktok.com/@[email protected] The information 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 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.In the Money delivers expert stock picks, actionable ideas, and timely money management tips. Hosted by business journalist Amber Kanwar, each episode features interviews with top portfolio managers who suggest ways to achieve good returns. Covering everything from ETFs and Canadian stocks to global investing trends, dividend strategies, and risk management, this show is made for DIY investors, stock market enthusiasts, and anyone looking to sharpen their financial strategy.Contact: [email protected]#IntheMoney #Investing #StockMarket #CanadianInvesting #FinancialNews

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