The economics of building custom technology are changing rapidly. In today’s environment, a company’s technology strategy is no longer just a back-office concern—it’s central to business value and long-term success.

In this episode equity analyst Dominic Drzazga discusses the current state of Canadian small caps, highlighting how geopolitical volatility creates both challenges and opportunities. The conversation covers recent portfolio additions including Sprott's precious metals trust and Kraken's underwater robotics technology, while reflecting on the bittersweet exit of long-time holding Andlauer. Dom also shares insights into how the research team is utilizing AI tools within their process.

Paul Moroz returns to The Art of Boring podcast after three years, discussing his reappointment as lead manager of Mawer's global equity strategy—a role he previously held from 2009 to 2021. Paul addresses the recent organizational decision to bring him back to the strategy, outlines his strategic approach to portfolio repositioning, and reflects on how the investment landscape has evolved over the past five years. He emphasizes increased diversification, better alignment with other Mawer strategies, and a more balanced approach to market exposure. 

In recent years, Indigenous communities across Canada—including First Nations, Métis, and Inuit—have become more active in the capital markets, financing ownership stakes in assets and acting as intermediaries. This trend marks a significant step towards economic reconciliation, with Indigenous-led partnerships becoming equity owners of pipelines, power projects, and more. Several landmark transactions since 2020 highlight the growing role of Indigenous groups in Canada’s bond market and illustrate how Indigenous consortiums are using bond financing to acquire asset ownership. These financings span pipelines, energy infrastructure, and other asset classes, and often involve multi-community partnerships. 

Picture this: It's 1971, and President Nixon just ended the gold standard, severing the dollar's convertibility to gold. The fixed price of $35 per ounce was history. Fast-forward to today—the U.S. national debt has ballooned past $35 trillion, political gridlock is the norm, and gold has just hit another record high. Coincidence? Hardly.

Gold's surge to record territory in 2025 isn't just another market anomaly. It's the result of a perfect storm: macroeconomic pressures, unprecedented central bank buying, and a world that feels increasingly unstable. But before you rush to load up on bullion, let's separate the golden truths from the fool's gold.

In this episode Canadian bond portfolio manager, Crista Caughlin, and balanced portfolio manager, Steven Visscher discuss Q2’s market and economic activity. Topics covered include “Liberation Day's” tariff shocks, central bank policies, inflation, and other themes.

Investors today confront the most serious Middle East crisis in decades. The Israel-Iran conflict has demonstrated how quickly regional tensions can escalate to unprecedented levels, with the potential for direct military confrontation creating ongoing market uncertainty.

In this episode, Justin Anderson, Mawer’s Chief Technology Officer, sits down to discuss the evolving “build-in vs. build-out” technology framework. Justin explains how Mawer approaches technology decisions—balancing vendor solutions with in-house customization—and shares practical examples from the firm, including proprietary solutions such as trade&MAWER and M42. The conversation explores how advances in AI and large language models are accelerating the shift toward more tailored, efficient solutions. He also offers insights for investors on what to look for in management teams as organizations adapt to rapid technological change.

Mark Rutherford, co-manager of Mawer’s Canadian large cap strategy, discusses the ongoing volatility in oil, the unique role of gold, the outlook for Canadian banks, and the potential impact of recent political changes. Mark also shares how the Mawer team is leveraging AI to enhance their investment process and decision-making. 

Join Peter Lampert, Portfolio Manager of Mawer's Emerging Markets strategy, as he takes you on a journey from Polish meat counters to UAE boardrooms, revealing how a disciplined bottom-up approach uncovers extraordinary opportunities in overlooked markets. 

Karan Phadke, portfolio manager for Mawer’s global small cap strategy, shares insights on how small caps are navigating trade policy volatility, the importance of proactive management, and Mawer’s unique approach to process improvement and AI integration in investment research.

Quality investing focuses on identifying and investing in companies with strong, enduring fundamentals, at the right price. These companies typically possess competitive advantages, maintain dominant market positions, exhibit comfortable financial leverage, generate sustainable free cash flow, and are led by management teams with a history of deploying capital effectively. This article will delve into the characteristics of quality companies, the metrics used to quantify quality, and the durability of quality through market cycles.