This month’s Invested explores how we define value, manage risk, and build resilience in everything from markets, to communities, and across generations. Mac Van Wielingen reflects on Alberta’s place in Confederation and the energy transition, while other features examine nature’s contribution to prosperity, investor complacency around valuations, and the growth of securities-backed borrowing.
We also look at Europe’s competitiveness, the next generation taking on family businesses, and the regional histories and relationships shaping philanthropy in Western Canada. Together, these stories offer fresh perspectives on the forces influencing our communities.
VIEWPOINT SPOTLIGHT
INSIGHTS FROM THE VIEWPOINT TEAM
FOR ALBERTA, NOTHING SUBSTITUTES A VOICE THAT IS ACTUALLY HEARD BY OTTAWA
Our Chairman Mac Van Wielingen, writes in this article for The Hub that while Alberta's interests are acknowledged by Ottawa, they do not meaningfully shape decisions. Drawing on family history and policy experience, he argues this imbalance weakens trust in Confederation and risks turning frustration into separatism. Although Albertans voted to remain in Canada, Mac's call for fair representation and a stronger regional voice remain relevant.
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THE CLIMATE ENERGY TRANSITION WAS A BROKEN PROMISE
Chairman Mac Van Wielingen argues in this op-ed for The Globe and Mail that climate policy lost credibility by promising a rapid energy transition that emissions trends and persistent hydrocarbon demand have not delivered. He says prioritizing emissions above affordability, reliability, security and competitiveness created costly trade-offs and public resistance. Climate action, he contends, remains necessary, but should be realistic, accountable and balanced with adaptation and broader national priorities.
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INSIGHTS FROM THE VIEWPOINT FOUNDATION
EXPLORING PHILANTHROPIC TRENDS & IMPACTFUL INITIATIVES
WHAT IS GROSS DOMESTIC REGENERATION?
This Viewpoint Foundation article introduces Gross Domestic Regeneration (GDR), an emerging way to rethink prosperity by measuring whether natural, social, and economic systems are being renewed. It looks at how conventional measures capture what an economy produces, but not whether that activity can continue over time. Accounting for regeneration can help decision-makers assess investments more fully and plan for lasting prosperity.
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OCTOBER'S INVESTMENT PULSE
WHAT TODAY'S MODERN MARKET TRENDS REVEAL ABOUT INVESTOR THINKING
THE 'BUY, BORROW AND DIE' WEALTH STRATEGY HAS BECOME A $5 TRILLION MARKET
Once used mainly by billionaires, securities-backed borrowing is expanding to affluent and retail investors. This Wall Street Journal article looks at how Deloitte estimates the global market at US$5.4 trillion, with average growth of 12 per cent over the past decade; actual borrowing may be closer to US$1.6 trillion. The loans provide cash without selling investments, but market declines can prompt forced sales and significant tax consequences for borrowers.
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INVESTORS ARE IGNORING SKY-HIGH STOCK VALUATIONS AND DOWNPLAYING THE POTENTIAL FOR A STOCK MARKET BUBBLE
This article from the Financial Post argues that investors have grown complacent about historically high stock valuations, as passive investing and AI enthusiasm displace fundamental analysis. Strong earnings and productivity gains may support prices, he notes, but exceptional companies can still be poor investments when expectations are excessive. Valuation cannot time downturns, but remains essential to judging risk and making sound investment decisions over time.
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PODCAST PICK
UNLOCKING INSIGHTS, ONE EPISODE AT A TIME
WHAT EVERYONE GETS WRONG ABOUT THE ECONOMIC PROBLEMS IN EUROPE
Two years after the Draghi report, Europe’s competitiveness challenges remain, from demographic pressures and energy costs to a lagging technology sector. In this episode of Odd Lots, Economist Dominik Leusder questions whether the report captures the region’s problems and whether claims of decline are overstated. The conversation also considers Europe’s need for frontier AI, how productivity should be measured, and its complex trade relationship with China.
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MORE TO EXPLORE
CURATED READS FOR THE INQUISITIVE
WHY THE NEXT GENERATION ACTUALLY WANTS TO INHERIT THE FAMILY BUSINESS
Despite stereotypes about younger generations, many want to inherit and carry family businesses forward. Successors profiled in this article from Be Giant gained experience elsewhere before returning to modernize and grow their companies. With six in 10 Canadian family businesses expected to change hands within a decade, thoughtful succession planning can turn this historic transfer into an opportunity for renewal, innovation, and growth.
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DOES PHILANTHROPY LOOK DIFFERENT IN WESTERN CANADA?
This article from The Philanthropist Journal gathers Western Canadian philanthropy leaders’ perspectives on how place and history shape giving. They describe a culture of self-reliance, community support, newer locally rooted wealth, and resilience through boom-and-bust cycles, alongside frustrations with Eastern concentration and limited visibility. The author cautions the West is not a monolith, emphasizing Indigenous traditions, changing demographics, and diverse regional identities and experiences.