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Barenaked Money

Barenaked Money

Hosted by Verecan Capital Management Inc.

Business Education

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Episodes

44

Latest episode

May 2026

Language

EN-CA

About the show

Slip into something more comfortable and delve into personal finance with Josh Sheluk and Colin White, experienced portfolio managers at Verecan Capital Management. Each episode demystifies complex financial topics, stripping them to their bare essentials. From investment strategies and financial planning to economic headlines and philanthropic giving, delivered with a blend of insight, transparency, and a touch of humour. Perfect for anyone looking to understand and navigate their financial future with confidence. Subscribe now to stay informed, empowered, and entertained. Verecan Capital Management Inc. is registered as a Portfolio Manager in all provinces in Canada except Manitoba.

Listen to episodes

44 recent

May 27, 2026Episode 14936 min

149: Canada Strong Fund | Sovereign Wealth Fund

Canada Strong Fund vs. Sovereign Wealth Funds: Why Borrowing to Invest at Home Could BackfireHosts Josh Sheluk and Colin White discuss the proposed Canada Wealth/Canada Strong Fund and argue it differs materially from traditional sovereign wealth funds. They explain sovereign wealth funds originated as a response to “Dutch disease,” using commodity windfalls to build large funds (e.g., Norway’s) that invest outside the country to diversify and stabilize the domestic economy and currency. By contrast, they say Canada would start with about $25B in borrowed money, likely invest domestically, and overlap with existing vehicles like the Canada Infrastructure Bank and Canada Growth Fund without clear details on governance, cost of capital, returns, or liquidity. They warn government investing can become politically driven, may crowd out private capital, and fear a retail component with capital guarantees would shift risk to taxpayers and repeat past failures like labour-sponsored venture capital funds. Their current verdict is “no.”00:00 Sovereign Wealth Hype00:21 Show Intro and Setup01:26 What Sovereign Wealth Means02:44 Dutch Disease Origins05:03 Norway Model Explained06:59 Canada Strong Fund Basics08:46 Where Will It Invest10:35 Domestic Focus and Diversification11:38 Government Investing Risks14:04 Retail Investor Idea Alarm16:38 EV Subsidies as Warning19:26 What Government Should Do21:09 Labor Fund Cautionary Tale23:04 Guarantees and Liquidity Problems31:06 Best Case vs Worst Case33:43 Verdict and Wrap Up35:17 Disclaimers and Credits

May 12, 2026Episode 14832 min

148: Behind the Bets: The Truth About Prediction Markets

Prediction Markets: Why They’re Gambling, Not InvestingHosts Josh Sheluk and Colin White of Verecan Capital Management discuss the rise of prediction markets (e.g., Polymarket, Kalshi, and a planned Wealthsimple product in Canada) following regulatory approvals, and argue people should avoid them. They frame the episode as a “draft of bad ideas,” led by the claim that participants will likely lose money, citing research on 1.4 million users and $20B in transactions showing profits are concentrated (1% earning ~80% of profits) and losses can be extreme (0.1% accounting for 43% of losses). They warn prediction markets are prone to manipulation and insider-information advantages, give examples of odds moving ahead of events, and criticize regulators’ rationale that people will do it anyway. They emphasize these products blur investing and gambling, siphon money from long-term investing, and are gamified to drive activity. Click here to view the episode transcript. 00:00 Wild Prediction Market Hook00:12 Show Intro and Today’s Topic00:55 Why Prediction Markets Are Exploding03:17 Regulators Open the Door05:02 Draft Pick One You’ll Lose Money08:52 Draft Pick Two Manipulation and Insider Info14:13 Draft Pick Three Gambling Not Investing17:07 Money Drain and Social Harm19:02 You Don’t Need This to Hedge22:03 Gamification and Worst Case Losses23:32 What Prediction Markets Actually Are27:34 Where This Is Headed and Final Thoughts30:40 Sponsor Message and Contact Info31:22 Legal Disclaimer and Wrap Up

April 24, 2026Episode 14748 min

147: Scams Don’t Look Like Scams Anymore

AI-Powered Misinformation and Financial Scams: Fake Opportunity, Authority, and UrgencyHosts Josh Sheluk and Colin White of Barenaked Money welcome back misinformation researcher and author Matthew Facciani (Misguided) to discuss current misinformation trends, especially how AI scales personalized scams across social media, email, and increasingly convincing audio deepfake phone calls. Facciani outlines three common scam patterns—fake opportunity, fake authority, and fake urgency—and shares examples of AI-tailored job-offer and book-club scams that quickly pivot to small fees. He recommends habits and tools to reduce risk: pause and reflect before reacting emotionally, avoid clicking links, verify credentials via official sources, use lateral reading to check independent coverage and digital footprints, and leverage tools like reverse image search, the Wayback Machine, and URL checks. The conversation also covers identity and network overlap as drivers of bias, plus Facciani’s interactive tools for mapping identity complexity and social network diversity.Click here to view the episode transcript. Links: Matthew Facciani's newsletter: https://matthewfacciani.substack.com/Matthew's Identity Map Tool: https://matthewfacciani.github.io/identity-map/Matthew's Post on Verecan's Blog: Don't Get Fooled Out of Your Money: A Fact-Checker's Guide for Every Kind of Investor 00:00 AI Scam Wake Up00:11 Meet The Misinformation Expert01:25 State Of Misinformation Now03:23 Financial Scams Three Buckets05:35 Deepfakes Voice And Text06:48 Personalized Job Offer Scam11:18 Spotting Scams Daily Habits13:48 Book Club Flattery Trap17:54 Predatory Conferences Gray Lines20:49 Verify Claims With Lateral Reading25:20 Identity Bias Map26:41 Overlapping Identities Risk28:46 Complexity Score Tool30:29 Network Diversity Shield34:29 Echo Chambers Everywhere35:34 Privacy And Metrics36:34 Critical Ignoring Chatbot40:21 Making It A Business41:41 Contrarian Matching Ideas44:48 Where To Find Everything47:16 Contact Info And Disclosures47:16 Financial Advisor Disclaimer

March 24, 2026Episode 14631 min

146: Headlines Feel New. For Markets, It’s the Same Story.

War, Markets, and Why You Still Can’t Invest on HeadlinesHosts 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 Markets01:01 Why Revisit War And Markets02:31 Afghanistan 2001 And Tech Bust06:54 Iraq 2003 And Recovery Years09:13 Syria 2011 And Euro Debt Crisis11:36 Yemen 2014 And Oil Shock Memories13:46 Israel 2023 And The Big Picture17:00 Why You Cant Trade Headlines20:20 Incentives Oil And Global Pressure22:39 The One War That Triggered A Bear27:19 Fragility South Korea And Gold29:11 Build A Resilient Portfolio30:18 Contact Info And Disclosures

March 17, 2026Episode 14539 min

145: Optimism and Despair in the Retirement Debate

Gen Z, Retirement at 59, and the Math Behind the DespairHosts 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 Spiral00:10 Retirement Survey Reaction02:17 Doomsday Fears and Growing Up05:28 Millennials and Gen Z Headwinds09:54 Retirement Math Reality Check11:06 Retirement Isnt the Goal13:24 FIRE Movement and Coasting Risks15:33 Blame Pie Game Setup16:43 Housing Experience and TikTok20:26 What Actually Matters26:24 Coaching Financial Independence28:48 Social Media and Keeping Up32:10 Optimism Despair and Marketing34:34 No Generation Needs Saving37:47 Wrap Up and Disclosures

February 17, 2026Episode 14439 min

144: New Year, New Forecast: 2026 Financial Predictions in time for the Lunar New Year

2026 "Predictions": AI Spend, Prediction Markets, Speculation, ETF Flood, Gold, Analysts, and the USDJosh 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 Money00:55 Predictions for 2026: AI Capital Expenditures05:40 The Rise of Prediction Markets13:20 Speculative Investments in 202616:58 The ETF Explosion20:02 Long-Term Predictions20:11 Sector Predictions for 202620:48 The Dominance of Infotech23:53 Rare Earths and Commodities24:37 Gold Predictions and Market Psychology28:00 Analysts' Predictions and Market Trends31:08 The Future of the US Dollar37:26 Final Thoughts and Viewer Engagement37:57 Disclaimer and Closing Remarks

February 9, 2026Episode 14330 min

143: Crystal Balls and Curveballs | A 2025 Financial Retrospective

Predicting the Unpredictable: 2025 Financial Forecast Recap and 2026 Outlook on Barenaked MoneyIn 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 Overview00:41 Recap of 2025 Predictions01:25 Tariffs and Economic Predictions05:55 Market Trends and Surprises09:14 Bond Market Performance12:49 Stock Market Analysis14:49 Leveraged ETFs and Day Trading19:48 Canadian Economy Insights22:19 Investment Strategies and Final Thoughts28:00 Conclusion and Disclaimers

February 5, 2026Episode 14239 min

142: Unraveling Economic Myths: Conversations with Paul Musson

Challenging Economic Norms and Investment Strategies with Paul MussonIn 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 Myth00:09 Introduction to Barenaked Money Podcast00:17 Meet Paul Musson: From Corporate to Independent01:19 Paul's Book: Capital Offense01:56 Understanding Economic and Monetary Theory07:10 The Role of Government and Finance in the Economy13:52 Investment Strategies and Diversification25:25 The Debate on Bitcoin and Asset Classes28:09 Comparing the Tech Bubble to the AI Boom34:33 The Case for Good Deflation37:45 Conclusion and Next Steps

January 13, 2026Episode 14141 min

141: Rob Carrick on Elevating Financial Advice Standards

Challenging Financial Norms: A Conversation with Rob Carrick on the Future of Financial AdviceIn 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 Canada00:00 Introduction and Guest Introduction00:17 👤 Meet Rob Carrick: Personal Finance Expert00:57 Rob's Polarizing Career00:57 📝 Rob's Career and Polarizing Opinions02:30 Controversial Topics: Housing Market02:49 🏡 Controversial Views on Housing06:20 Canada's Debt Crisis06:20 💸 Canada's Household Debt Crisis10:26 Trends in Personal Finance10:26 📈 Trends in Personal Finance and Investing16:07 Generational Pessimism and Economic Outlook16:38 😟 Pessimism and Economic Anxiety19:31 🧑‍💼 Gen Z's Financial Frustrations21:22 The Financial Impact of Gen Z's Attitude21:22 The Financial Impact of Gen Z's Attitude22:05 The Global Negative Sentiment22:05 The Global Negative Sentiment22:54 Inflation and Its Effects22:54 Inflation and Its Effects24:21 Employment and Economic Opportunities24:21 Employment and Economic Opportunities26:02 The Role of Media in Financial Education26:10 Challenges in Personal Finance Advice27:28 Personal Finance Challenges and Solutions32:43 The Importance of Financial Planning32:43 The Importance of Financial Planning36:00 The Fiduciary Standard in Financial Advice36:00 The Fiduciary Standard in Financial Advice39:01 Conclusion and Final Thoughts39:01 Conclusion and Final Thoughts

January 12, 2026Episode 14043 min

140: Is AI Shaping a New Economic Era?

Investing in AI: Separating Hype from RealityIn 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 Milestone00:23 Introduction to Barenaked Money Podcast01:06 AI: The Hottest Topic of the Year01:54 AI Technology vs. AI Investment04:24 The Financial Implications of AI07:06 Valuations and Market Expectations09:01 Is AI a Bubble?12:43 Caution in AI Investments16:36 The Capital Expenditure Shift18:20 Comparing AI to the Dotcom Bubble24:02 Market Cap Rollercoaster24:39 AI's Impact on Market Valuations25:42 Oracle's Unexpected Rise and Fall28:19 The Reality of AI Investments31:23 Optimism and Skepticism in AI36:24 Final Thoughts and Advice41:21 Podcast Conclusion and Disclaimers

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