Welcome to Different Makes a Difference® where we discuss investment matters that matter to everyday investors. Join Odlum Brown’s equity analysts as we examine pertinent topics in today’s markets and look at things a little differently.Odlum Brown is an independent Canadian investment firm. We provide integrated wealth management solutions to help clients achieve their financial goals, and we’ve been doing so for over 100 years. Join us for some lessons we’ve learned along the way – that can make a difference for the future.

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2026/10/6/17/26b3e767-c130-48e0-b906-7a054913ab1e_dmad_ep36_murray_bonds_v1.mp3

Bond investing has had a rough few years, but reports of its death may be greatly exaggerated. In our latest episode, Chief Investment Officer Murray Leith explores why today’s higher yields could signal a turning point for bonds. He also explains how the bond market tends to be more objective and less emotional than the equity market. Listen now to discover why bonds may once again deserve an important place in a well-balanced portfolio. --Learn more about the podcast here:<a href="https://www.odlumbrown.com/insights/different-makes-a-difference" rel="nofollow">https://www.odlumbrown.com/insights/different-makes-a-difference</a> Just as every individual is unique, so are your financial circumstances. Be sure to talk to your professional advisors for advice related specifically to you. Data presented by the host(s) are from sources Odlum Brown believes to be reliable, but their accuracy cannot be guaranteed. Our podcast is for general information purposes for Canadians only, and does not constitute legal, accounting, tax or investment advice. Forecasts, estimates and information on specific securities should not be considered investment advice or a recommendation of any particular security, strategy or investment product. This is not a sales solicitation. The views expressed are those of the presenters and may not reflect the opinions of Odlum Brown. Odlum Brown is a Member of the Canadian Investor Protection Fund. Please read our full disclaimer on our website at <a href="http://www.odlumbrown.com/different-makes-a-difference" rel="nofollow">www.odlumbrown.com/different-makes-a-difference</a>

Is Bond Investing Dead?

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2026/9/14/23/957be669-640b-460c-8bca-030358c630b4_dmad_ep35_v2.mp3

Markets continue to climb despite no shortage of uncertainty, so what should investors be watching? Stephen Boland and Laura McAlear explore the investment implications of AI, elevated interest rates and tariffs, while revisiting the quarter’s standout performers and stocks that struggled.--Learn more about the podcast here:<a href="https://www.odlumbrown.com/insights/different-makes-a-difference" rel="nofollow">https://www.odlumbrown.com/insights/different-makes-a-difference</a> Just as every individual is unique, so are your financial circumstances. Be sure to talk to your professional advisors for advice related specifically to you. Data presented by the host(s) are from sources Odlum Brown believes to be reliable, but their accuracy cannot be guaranteed. Our podcast is for general information purposes for Canadians only, and does not constitute legal, accounting, tax or investment advice. Forecasts, estimates and information on specific securities should not be considered investment advice or a recommendation of any particular security, strategy or investment product. This is not a sales solicitation. The views expressed are those of the presenters and may not reflect the opinions of Odlum Brown. Odlum Brown is a Member of the Canadian Investor Protection Fund. Please read our full disclaimer on our website at <a href="http://www.odlumbrown.com/different-makes-a-difference" rel="nofollow">www.odlumbrown.com/different-makes-a-difference</a>

The View from the Quarter

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2026/9/2/18/cd798dfd-f6a6-42ed-b063-7cf524ef8413_dmad_ep34_mastercard_v2.mp3

Credit cards are an essential part of the global payments ecosystem, but what makes companies like Visa and Mastercard such compelling businesses? In this episode, Equity Analysts Stephen Boland and Steven Zicherman explore the growth drivers behind the industry, from the ongoing shift away from cash to the rise of value-added services. They also discuss competitive threats and emerging technologies such as stablecoins. --Learn more about the podcast here:<a href="https://www.odlumbrown.com/insights/different-makes-a-difference" rel="nofollow">https://www.odlumbrown.com/insights/different-makes-a-difference</a> Just as every individual is unique, so are your financial circumstances. Be sure to talk to your professional advisors for advice related specifically to you. Data presented by the host(s) are from sources Odlum Brown believes to be reliable, but their accuracy cannot be guaranteed. Our podcast is for general information purposes for Canadians only, and does not constitute legal, accounting, tax or investment advice. Forecasts, estimates and information on specific securities should not be considered investment advice or a recommendation of any particular security, strategy or investment product. This is not a sales solicitation. The views expressed are those of the presenters and may not reflect the opinions of Odlum Brown. Odlum Brown is a Member of the Canadian Investor Protection Fund.

The Enduring Strength of Visa and Mastercard

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2026/8/10/20/154384c5-d07d-4a1a-99e6-8ec62b8ebfc3_dmad_ep33_murray_on_the_markets_v3.mp3

In this episode, Odlum Brown’s Chief Investment Officer, Murray Leith, discusses why the investment relationships shaped by the last 40 years of falling inflation and interest rates may no longer apply. Drawing on themes such as rising inflation, higher capital spending and changing market leadership, Murray explains why price, diversification and positioning differently may matter more in the years ahead.--Learn more about the podcast here:<a href="https://www.odlumbrown.com/insights/different-makes-a-difference" rel="nofollow">https://www.odlumbrown.com/insights/different-makes-a-difference</a> Just as every individual is unique, so are your financial circumstances. Be sure to talk to your professional advisors for advice related specifically to you. Data presented by the host(s) are from sources Odlum Brown believes to be reliable, but their accuracy cannot be guaranteed. Our podcast is for general information purposes for Canadians only, and does not constitute legal, accounting, tax or investment advice. Forecasts, estimates and information on specific securities should not be considered investment advice or a recommendation of any particular security, strategy or investment product. This is not a sales solicitation. The views expressed are those of the presenters and may not reflect the opinions of Odlum Brown. Odlum Brown is a Member of the Canadian Investor Protection Fund. Please read our full disclaimer on our website at <a href="http://www.odlumbrown.com/different-makes-a-difference" rel="nofollow">www.odlumbrown.com/different-makes-a-difference</a>

Price Matters: Investing When the Rules Are Changing

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2026/7/28/16/b82604b1-4591-40e6-907c-6ec537fc24df_dmad_ep32_candadian_banks_v3.mp3

Canadian banks have been among the best investments in Canada for decades – but should they remain core holdings today? In this episode, Equity Analysts Stephen Boland and Trevor Chang discuss the strengths that have made the banks portfolio staples, including their profitability, resilience and attractive dividends. But with higher valuations and ongoing macroeconomic uncertainties, how should investors position themselves in this sector? Mentioned in this episode:Power Capital: <a href="https://podcasts.apple.com/us/podcast/insuring-returns-with-premium-picks/id1804206147?i=1000736475290" rel="nofollow">https://podcasts.apple.com/us/podcast/insuring-returns-with-premium-picks/id1804206147?i=1000736475290</a>Moody&#39;s: <a href="https://podcasts.apple.com/ca/podcast/moodys-standing-firm-in-an-ai-world/id1804206147?i=1000758427591" rel="nofollow">https://podcasts.apple.com/ca/podcast/moodys-standing-firm-in-an-ai-world/id1804206147?i=1000758427591</a> --Learn more about the podcast here:<a href="https://www.odlumbrown.com/insights/different-makes-a-difference" rel="nofollow">https://www.odlumbrown.com/insights/different-makes-a-difference</a> Just as every individual is unique, so are your financial circumstances. Be sure to talk to your professional advisors for advice related specifically to you. Data presented by the host(s) are from sources Odlum Brown believes to be reliable, but their accuracy cannot be guaranteed. Our podcast is for general information purposes for Canadians only, and does not constitute legal, accounting, tax or investment advice. Forecasts, estimates and information on specific securities should not be considered investment advice or a recommendation of any particular security, strategy or investment product. This is not a sales solicitation. The views expressed are those of the presenters and may not reflect the opinions of Odlum Brown. Odlum Brown is a Member of the Canadian Investor Protection Fund. Please read our full disclaimer on our website at <a href="http://www.odlumbrown.com/different-makes-a-difference" rel="nofollow">www.odlumbrown.com/different-makes-a-difference</a>

Canadian Banks: Still Core Holdings?

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2026/6/26/18/c163299a-b068-4643-a64e-513f5cad644f_dmad_ep31_veralto_v2.mp3

While most investors chase the latest market darlings, Equity Analysts Stephen Boland and Cory O&#39;Krainetz discuss Veralto, a little-known but essential name in clean water. A Danaher spinoff with a razor/razor-blade business model, Veralto is deeply embedded in the systems that keep our water clean and our food and pharmaceutical labels trustworthy. Tune in to hear why this mission-critical business, trading well below its historical valuation, is one of the market&#39;s under-appreciated long-term opportunities. --Learn more about the podcast here:<a href="https://www.odlumbrown.com/insights/different-makes-a-difference" rel="nofollow">https://www.odlumbrown.com/insights/different-makes-a-difference</a> Just as every individual is unique, so are your financial circumstances. Be sure to talk to your professional advisors for advice related specifically to you. Data presented by the host(s) are from sources Odlum Brown believes to be reliable, but their accuracy cannot be guaranteed. Our podcast is for general information purposes for Canadians only, and does not constitute legal, accounting, tax or investment advice. Forecasts, estimates and information on specific securities should not be considered investment advice or a recommendation of any particular security, strategy or investment product. This is not a sales solicitation. The views expressed are those of the presenters and may not reflect the opinions of Odlum Brown. Odlum Brown is a Member of the Canadian Investor Protection Fund. Please read our full disclaimer on our website at <a href="http://www.odlumbrown.com/different-makes-a-difference" rel="nofollow">www.odlumbrown.com/different-makes-a-difference</a>

The Business Behind Clean Water

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2026/6/10/22/0d218f87-aa57-416c-b76f-c0c024a08c4b_dmad_ep30_space_x__v2.mp3

Equity Analysts Stephen Boland and Steven Zicherman examine SpaceX’s IPO, one of the most anticipated public offerings in a generation, while questioning how the public market might ultimately price it. They highlight two core engines of value beyond launch services: Starlink’s rapidly scaling satellite internet network and its lofty AI ambitions. The result is an imaginative but complex opportunity, rich in possibility, yet highly sensitive to valuation and execution. --Learn more about the podcast here:<a href="https://www.odlumbrown.com/insights/different-makes-a-difference" rel="nofollow">https://www.odlumbrown.com/insights/different-makes-a-difference</a> Just as every individual is unique, so are your financial circumstances. Be sure to talk to your professional advisors for advice related specifically to you. Data presented by the host(s) are from sources Odlum Brown believes to be reliable, but their accuracy cannot be guaranteed. Our podcast is for general information purposes for Canadians only, and does not constitute legal, accounting, tax or investment advice. Forecasts, estimates and information on specific securities should not be considered investment advice or a recommendation of any particular security, strategy or investment product. This is not a sales solicitation. The views expressed are those of the presenters and may not reflect the opinions of Odlum Brown. Odlum Brown is a Member of the Canadian Investor Protection Fund. Please read our full disclaimer on our website at <a href="http://www.odlumbrown.com/different-makes-a-difference" rel="nofollow">www.odlumbrown.com/different-makes-a-difference</a>

SpaceX: Shooting for the Stars

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2026/6/5/17/e1e1d9fb-96cc-45e4-b987-77a995519022_dmad_ep29_quarterly_update_v2.mp3

In this episode, Equity Analyst Stephen Boland unpacks the biggest themes from first quarter earnings. He covers AI&#39;s real-world impact on business workflows, the energy infrastructure buildout underway in Canada, how the conflict in the Middle East is reshaping inflation and consumer resilience, and some of our latest stock recommendations. It&#39;s a wide-ranging conversation that connects the macro headlines to what they mean for investors and business leaders right now. --Learn more about the podcast here:<a href="https://www.odlumbrown.com/insights/different-makes-a-difference" rel="nofollow">https://www.odlumbrown.com/insights/different-makes-a-difference</a> Just as every individual is unique, so are your financial circumstances. Be sure to talk to your professional advisors for advice related specifically to you. Data presented by the host(s) are from sources Odlum Brown believes to be reliable, but their accuracy cannot be guaranteed. Our podcast is for general information purposes for Canadians only, and does not constitute legal, accounting, tax or investment advice. Forecasts, estimates and information on specific securities should not be considered investment advice or a recommendation of any particular security, strategy or investment product. This is not a sales solicitation. The views expressed are those of the presenters and may not reflect the opinions of Odlum Brown. Odlum Brown is a Member of the Canadian Investor Protection Fund. Please read our full disclaimer on our website at <a href="http://www.odlumbrown.com/different-makes-a-difference" rel="nofollow">www.odlumbrown.com/different-makes-a-difference</a>

What Kept Us Busy This Quarter

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2026/5/19/21/6d4d9af9-4bab-4b4f-b8c0-519fde1bcddc_dmad_ep28_ai_lessons_v2.mp3

Being different is hard, especially when everyone else is so confident in the consensus. We’ve felt this way before and we’re feeling it again in the popular and optimistic trading around artificial intelligence. In this episode, Chief Investment Officer Murray Leith and Equity Analyst Stephen Boland discuss some of the more controversial trades we’ve made recently and what signals we’re seeing that rhyme with past booms. --Learn more about the podcast here:<a href="https://www.odlumbrown.com/insights/different-makes-a-difference" rel="nofollow">https://www.odlumbrown.com/insights/different-makes-a-difference</a> Just as every individual is unique, so are your financial circumstances. Be sure to talk to your professional advisors for advice related specifically to you. Data presented by the host(s) are from sources Odlum Brown believes to be reliable, but their accuracy cannot be guaranteed. Our podcast is for general information purposes for Canadians only, and does not constitute legal, accounting, tax or investment advice. Forecasts, estimates and information on specific securities should not be considered investment advice or a recommendation of any particular security, strategy or investment product. This is not a sales solicitation. The views expressed are those of the presenters and may not reflect the opinions of Odlum Brown. Odlum Brown is a Member of the Canadian Investor Protection Fund. Please read our full disclaimer on our website at <a href="http://www.odlumbrown.com/different-makes-a-difference" rel="nofollow">www.odlumbrown.com/different-makes-a-difference</a>

Being Different: Why We’re Reducing AI Exposure

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2026/4/28/6/9b0cfa39-c3a7-49d8-898a-9d93d01ba32a_dmad_ep27_james_hardie_v4.mp3

Listen while Equity Analysts Stephen Boland and Cory O&#39;Krainetz make the case for James Hardie Industries. Investor skepticism around a recent acquisition, combined with economic and real estate headwinds, has created an attractive entry point. The pair break down the long-term growth thesis for the company and explain our contrarian view that the selloff may be a great opportunity despite near-term concerns.--Learn more about the podcast here:<a href="https://www.odlumbrown.com/insights/different-makes-a-difference" rel="nofollow">https://www.odlumbrown.com/insights/different-makes-a-difference</a> Just as every individual is unique, so are your financial circumstances. Be sure to talk to your professional advisors for advice related specifically to you. Data presented by the host(s) are from sources Odlum Brown believes to be reliable, but their accuracy cannot be guaranteed. Our podcast is for general information purposes for Canadians only, and does not constitute legal, accounting, tax or investment advice. Forecasts, estimates and information on specific securities should not be considered investment advice or a recommendation of any particular security, strategy or investment product. This is not a sales solicitation. The views expressed are those of the presenters and may not reflect the opinions of Odlum Brown. Odlum Brown is a Member of the Canadian Investor Protection Fund. Please read our full disclaimer on our website at <a href="http://www.odlumbrown.com/different-makes-a-difference" rel="nofollow">www.odlumbrown.com/different-makes-a-difference</a>

Siding with Hardie: Why the Market is Wrong

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2026/4/9/20/225a8758-2251-43a2-9e2f-1186f095bfd0_dmad_air_bnb_v3.mp3

From humble beginnings in 2007, Airbnb is now a global platform with over five million hosts across 220+ countries. In this episode, we break down the business model and where the company sees its next wave of growth. We also get into the risks: mounting city regulations on short-term rentals, stiff competition and a business that&#39;s vulnerable to changes in travel demand. Whether you&#39;re a seasoned investor, a curious traveler or just someone who is inspired by a startup that’s become a household name, we think you’ll enjoy this conversation.--Learn more about the podcast here:<a href="https://www.odlumbrown.com/insights/different-makes-a-difference" rel="nofollow">https://www.odlumbrown.com/insights/different-makes-a-difference</a> Just as every individual is unique, so are your financial circumstances. Be sure to talk to your professional advisors for advice related specifically to you. Data presented by the host(s) are from sources Odlum Brown believes to be reliable, but their accuracy cannot be guaranteed. Our podcast is for general information purposes for Canadians only, and does not constitute legal, accounting, tax or investment advice. Forecasts, estimates and information on specific securities should not be considered investment advice or a recommendation of any particular security, strategy or investment product. This is not a sales solicitation. The views expressed are those of the presenters and may not reflect the opinions of Odlum Brown. Odlum Brown is a Member of the Canadian Investor Protection Fund. Please read our full disclaimer on our website at <a href="http://www.odlumbrown.com/different-makes-a-difference" rel="nofollow">www.odlumbrown.com/different-makes-a-difference</a>

Airbnb: The Accidental Startup That Changed Travel

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2026/3/27/21/14701c23-f8f0-4483-a04a-65c7d64f1591_dmad_moody_v2.mp3

In this episode, Equity Analysts Steve Boland and Trevor Chang make the case that credit rating agency Moody’s Corporation is more resilient to AI disruption than the market believes. With a century of credibility, in a global duopoly, and with deeply embedded proprietary software, Moody’s durable competitive advantages make it difficult to displace.--Learn more about the podcast here:<a href="https://www.odlumbrown.com/insights/different-makes-a-difference" rel="nofollow">https://www.odlumbrown.com/insights/different-makes-a-difference</a> Just as every individual is unique, so are your financial circumstances. Be sure to talk to your professional advisors for advice related specifically to you. Data presented by the host(s) are from sources Odlum Brown believes to be reliable, but their accuracy cannot be guaranteed. Our podcast is for general information purposes for Canadians only, and does not constitute legal, accounting, tax or investment advice. Forecasts, estimates and information on specific securities should not be considered investment advice or a recommendation of any particular security, strategy or investment product. This is not a sales solicitation. The views expressed are those of the presenters and may not reflect the opinions of Odlum Brown. Odlum Brown is a Member of the Canadian Investor Protection Fund. Please read our full disclaimer on our website at <a href="http://www.odlumbrown.com/different-makes-a-difference" rel="nofollow">www.odlumbrown.com/different-makes-a-difference</a>

Moody's: Standing Firm in an AI World

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2026/3/18/22/9b6205db-1ecb-46a6-b2ee-0b42542a54cb_dmad_ep24_oil_v5.mp3

With the ongoing conflict in the Middle East, oil is top of mind. Prices have soared, supply is constrained, and investors are assessing what it all means for the future. Against this turmoil, Canadian producers offer something increasingly scarce: stability. Join Equity Analysts Stephen Boland and Fai Lee as they break down where oil goes from here, how new technologies might impact our thesis, and which Canadian equities are best positioned in this volatility.--Learn more about the podcast here:<a href="https://www.odlumbrown.com/insights/different-makes-a-difference" rel="nofollow">https://www.odlumbrown.com/insights/different-makes-a-difference</a> Just as every individual is unique, so are your financial circumstances. Be sure to talk to your professional advisors for advice related specifically to you. Data presented by the host(s) are from sources Odlum Brown believes to be reliable, but their accuracy cannot be guaranteed. Our podcast is for general information purposes for Canadians only, and does not constitute legal, accounting, tax or investment advice. Forecasts, estimates and information on specific securities should not be considered investment advice or a recommendation of any particular security, strategy or investment product. This is not a sales solicitation. The views expressed are those of the presenters and may not reflect the opinions of Odlum Brown. Odlum Brown is a Member of the Canadian Investor Protection Fund. Please read our full disclaimer on our website at <a href="http://www.odlumbrown.com/different-makes-a-difference" rel="nofollow">www.odlumbrown.com/different-makes-a-difference</a>

Crude Awakening: Canadian Energy's Moment in a Disrupted World

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2026/3/4/1/1e7d31e3-5b1c-4801-91db-6248be5df526_dmad_annual_address_q_a_v3.mp3

This episode tackles the prevailing audience questions from our recent Annual Address: Market Insights &amp; Opportunities tour. Chief Investment Officer Murray Leith and Equity Analyst Stephen Boland break down investing in American and international markets, spotlight key commodities, and share our approach to alternative investments and Bitcoin. Hear Murray’s candid responses as he confronts the most existential queries: what keeps you up at night and what keeps you optimistic?More about our Annual Address here: <a href="https://www.odlumbrown.com/insights/annual-address/2026" rel="nofollow">https://www.odlumbrown.com/insights/annual-address/2026</a>--Learn more about the podcast here:<a href="https://www.odlumbrown.com/insights/different-makes-a-difference" rel="nofollow">https://www.odlumbrown.com/insights/different-makes-a-difference</a> Just as every individual is unique, so are your financial circumstances. Be sure to talk to your professional advisors for advice related specifically to you. Data presented by the host(s) are from sources Odlum Brown believes to be reliable, but their accuracy cannot be guaranteed. Our podcast is for general information purposes for Canadians only, and does not constitute legal, accounting, tax or investment advice. Forecasts, estimates and information on specific securities should not be considered investment advice or a recommendation of any particular security, strategy or investment product. This is not a sales solicitation. The views expressed are those of the presenters and may not reflect the opinions of Odlum Brown. Odlum Brown is a Member of the Canadian Investor Protection Fund. Please read our full disclaimer on our website at <a href="http://www.odlumbrown.com/different-makes-a-difference" rel="nofollow">www.odlumbrown.com/different-makes-a-difference</a>

What Investors Want to Know

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2026/2/13/0/42e473b7-a8fb-400b-a226-755187bbb912_dmad_defense_stocks_v3.mp3

In this episode, Equity Analyst Stephen Boland contends with the uncomfortable ethical tensions of investing in an industry tied to conflict. But can we afford to ignore defence in this era of heightened strife? Join us for a sincere conversation about money, morality and modern warfare. Please note, our rating on CAE has changed since this episode was released. --Learn more about the podcast here:<a href="https://www.odlumbrown.com/insights/different-makes-a-difference" rel="nofollow">https://www.odlumbrown.com/insights/different-makes-a-difference</a> Just as every individual is unique, so are your financial circumstances. Be sure to talk to your professional advisors for advice related specifically to you. Data presented by the host(s) are from sources Odlum Brown believes to be reliable, but their accuracy cannot be guaranteed. Our podcast is for general information purposes for Canadians only, and does not constitute legal, accounting, tax or investment advice. Forecasts, estimates and information on specific securities should not be considered investment advice or a recommendation of any particular security, strategy or investment product. This is not a sales solicitation. The views expressed are those of the presenters and may not reflect the opinions of Odlum Brown. Odlum Brown is a Member of the Canadian Investor Protection Fund. Please read our full disclaimer on our website at <a href="http://www.odlumbrown.com/different-makes-a-difference" rel="nofollow">www.odlumbrown.com/different-makes-a-difference</a>

Understanding Defence Stocks in a Changing World

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2026/1/27/18/5579ef01-641d-481e-b9c1-8728a012db95_dmad_fixed_income_v3.mp3

Not every investment needs to be a thrill ride. Fixed income offers predictability, cash flow and fewer sleepless nights. In this episode, Odlum Brown’s Vice President, Trading and Syndication, Dave Pearson, talks about bonds, yields and why sometimes slow and steady really does win the race.--Learn more about the podcast here:<a href="https://www.odlumbrown.com/insights/different-makes-a-difference" rel="nofollow">https://www.odlumbrown.com/insights/different-makes-a-difference</a> Just as every individual is unique, so are your financial circumstances. Be sure to talk to your professional advisors for advice related specifically to you. Data presented by the host(s) are from sources Odlum Brown believes to be reliable, but their accuracy cannot be guaranteed. Our podcast is for general information purposes for Canadians only, and does not constitute legal, accounting, tax or investment advice. Forecasts, estimates and information on specific securities should not be considered investment advice or a recommendation of any particular security, strategy or investment product. This is not a sales solicitation. The views expressed are those of the presenters and may not reflect the opinions of Odlum Brown. Odlum Brown is a Member of the Canadian Investor Protection Fund. Please read our full disclaimer on our website at <a href="http://www.odlumbrown.com/different-makes-a-difference" rel="nofollow">www.odlumbrown.com/different-makes-a-difference</a>

Fixed Income: The Calm Within the Storm

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2026/1/8/17/9658e627-694e-4ecc-a5b6-ffca48461d12_dmad_pembina_2_v3.mp3

As global demand for reliable electricity grows and Ottawa signals a renewed mandate to expand critical infrastructure, Canadian energy is stepping back into the spotlight. In this week’s episode, Equity Analysts Stephen Boland and Cory O’Krainetz highlight a cornerstone of our energy network, Pembina Pipeline. Pembina’s pipes, terminals and long-term contracts position it to benefit from rising energy needs while offering investors stability, income and exposure to a strategic national priority. --Learn more about the podcast here:<a href="https://www.odlumbrown.com/insights/different-makes-a-difference" rel="nofollow">https://www.odlumbrown.com/insights/different-makes-a-difference</a> Just as every individual is unique, so are your financial circumstances. Be sure to talk to your professional advisors for advice related specifically to you. Data presented by the host(s) are from sources Odlum Brown believes to be reliable, but their accuracy cannot be guaranteed. Our podcast is for general information purposes for Canadians only, and does not constitute legal, accounting, tax or investment advice. Forecasts, estimates and information on specific securities should not be considered investment advice or a recommendation of any particular security, strategy or investment product. This is not a sales solicitation. The views expressed are those of the presenters and may not reflect the opinions of Odlum Brown. Odlum Brown is a Member of the Canadian Investor Protection Fund. Please read our full disclaimer on our website at <a href="http://www.odlumbrown.com/different-makes-a-difference" rel="nofollow">www.odlumbrown.com/different-makes-a-difference</a>

Pembina Pipeline: Dividend Growth While Powering Canada’s Future

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2025/12/30/17/86c2ce27-4850-40d7-b0e2-4f77c07cbada_dmad_murray_year_in_review_v2.mp3

Another year has passed, marked by several consequential moments. A new government formed in Canada, tasked with navigating a politically hostile neighbour as President Trump introduced a new threat of tariffs. Artificial intelligence dominated the headlines, highlighting an increasing global demand for energy. And Canada’s real estate market began to show signs of stress. Join Equity Analyst Stephen Boland and Chief Investment Officer Murray Leith as they look back at the major investment stories in 2025 and contemplate the year ahead. --Mentioned in this episode:<a href="https://www.odlumbrown.com/insights/annual-address" rel="nofollow">The K That Divides Us, https://www.odlumbrown.com/insights/annual-address</a> Learn more about the podcast here:<a href="https://www.odlumbrown.com/insights/different-makes-a-difference" rel="nofollow">https://www.odlumbrown.com/insights/different-makes-a-difference</a> Just as every individual is unique, so are your financial circumstances. Be sure to talk to your professional advisors for advice related specifically to you. Data presented by the host(s) are from sources Odlum Brown believes to be reliable, but their accuracy cannot be guaranteed. Our podcast is for general information purposes for Canadians only, and does not constitute legal, accounting, tax or investment advice. Forecasts, estimates and information on specific securities should not be considered investment advice or a recommendation of any particular security, strategy or investment product. This is not a sales solicitation. The views expressed are those of the presenters and may not reflect the opinions of Odlum Brown. Odlum Brown is a Member of the Canadian Investor Protection Fund. Please read our full disclaimer on our website at <a href="http://www.odlumbrown.com/different-makes-a-difference" rel="nofollow">www.odlumbrown.com/different-makes-a-difference</a>

Major Investment Stories of 2025 with Murray Leith

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2025/12/16/17/0181605c-5321-4851-9f0a-0c2d13b828de_dmad_buffet_v3.mp3

Warren Buffett has long been a teacher, bringing forth ideas with honesty and integrity. As he officially steps down as CEO of Berkshire Hathaway, Stephen Boland, Steven Zicherman and Trevor Chang reflect on the lessons they’ve learned from him, not just on investing but invaluable life lessons, too. Join us for our genuine tribute of gratitude to Warren Buffett, the Oracle of Omaha.

Words of Wisdom from Warren Buffett

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2025/11/27/17/3f98b55c-678c-4e82-a297-08bde546cbb5_dmad_ai_bubble_audio_v2.mp3

The question is on every tech investor’s mind as the use of artificial intelligence explodes and related stocks reach new highs. In our latest episode, Stephen Boland and Steven Zicherman discuss some of the red flags starting to emerge and how to position portfolios prudently.--Mentioned in this episode:<a href="https://www.odlumbrown.com/insights/article/is-the-party-still-raging" rel="nofollow">https://www.odlumbrown.com/insights/article/is-the-party-still-raging</a><a href="https://www.odlumbrown.com/researchreports.aspx?docid=OBReport_201707.pdf" rel="nofollow">﻿https://www.odlumbrown.com/researchreports.aspx?docid=OBReport_201707.pdf</a> Learn more about the podcast here:<a href="https://www.odlumbrown.com/insights/different-makes-a-difference" rel="nofollow">https://www.odlumbrown.com/insights/different-makes-a-difference</a> Just as every individual is unique, so are your financial circumstances. Be sure to talk to your professional advisors for advice related specifically to you. Data presented by the host(s) are from sources Odlum Brown believes to be reliable, but their accuracy cannot be guaranteed. Our podcast is for general information purposes for Canadians only, and does not constitute legal, accounting, tax or investment advice. Forecasts, estimates and information on specific securities should not be considered investment advice or a recommendation of any particular security, strategy or investment product. This is not a sales solicitation. The views expressed are those of the presenters and may not reflect the opinions of Odlum Brown. Odlum Brown is a Member of the Canadian Investor Protection Fund. Please read our full disclaimer on our website at <a href="http://www.odlumbrown.com/different-makes-a-difference" rel="nofollow">www.odlumbrown.com/different-makes-a-difference</a>

Are We in an AI Bubble?

Welcome to Different Makes a Difference® where we discuss investment matters that matter to everyday investors. Join Odlum Brown’s equity analysts as we examine pertinent topics in today’s markets and look at things a little differently.

Odlum Brown is an independent Canadian investment firm. We provide integrated wealth management solutions to help clients achieve their financial goals, and we’ve been doing so for over 100 years. Join us for some lessons we’ve learned along the way – that can make a difference for the future.