Brian Crombie Radio Hour - Epi 1489 - Contrarian Investing in an AI-Obsessed Market with Philip MacKellar

Tonight on The Brian Crombie Hour, Brian is joined by Philip MacKellar, analyst, portfolio manager, and General Manager of Contra the Heard Investment Newsletter (since 2023; with Contra since 2011). Together, they dig into their contrarian, value-oriented approach to U.S. and Canadian markets—how they hunt for unloved, undervalued names and sometimes step into M&A and other special situations, including bonds, preferreds, and converts. They cover the AI boom: opportunity, bubble risks, and why shorting hype can be hazardous, balance-sheet tells: cash, current ratio, debt, and avoiding dilution traps, forced selling and other contrarian entry points, ETFs: when they help, when they hurt, and holding 20–35 positions with multi-year horizons—no day trading, no fads.