Market Commentary: The Economic Impact of COVID-19, Upcoming US Election and Long-Term Global Challenges


PODCAST July 30, 2020


Show Summary:

Rob Edel, Nicola Wealth Chief Investment Officer, joins host Ethan Astaneh to provide a recap of the markets in the second quarter of 2020.

They discuss the unexpectedly quick recovery of stock markets, the upcoming US election, geopolitics, and some of the long-term challenges still facing us in the aftermath of COVID-19. He also addresses how the US-China trade relationship has developed, the unique challenges we are facing in Canada, developments in the energy markets, and how the current dynamic between China and Hong Kong may impact financial markets.

Key Takeaways:

[:16] About this episode.

[:41] Rob shares how the recovery of the economy has progressed since he was last on the podcast, with regards to COVID-19.

[3:46] Rob speaks about what we’re seeing being prepared now in terms of stimulus and aid, and how much longer it can continue for.

[5:47] Rob gives an update on the developments that occurred in the energy markets.

[7:07] When does Rob think we’ll find out about what the actual economic impact will be, save for the third quarter?

[12:55] How the US-China trade relationship has developed.

[15:26] Discussing the complexity that this new dynamic between China and Hong Kong creates and how it may impact financial markets.

[18:29] For Canada, what are some of the unique issues we are facing? And how are we faring so far?

[21:06] What does Rob think of the phrase “With all this money printing, we’re going to have to pay for this somehow”? Would we have to be worried about this because of the inflation/deflation dynamic or is it more of a concern about taxes?


Mentioned in this Episode:

Canada Revenue Agency – List of Charities


Guest Bio

Rob Edel

Rob is the Chief Investment Officer at Nicola Wealth.

Before joining the team at Nicola, Rob spent nine years working for one of Canada’s largest money managers and — most recently — as a Portfolio Manager responsible for managing U.S. equities for the firm’s high net worth clients. Previous to that, he spent seven years working for the Treasury Department of a Major Canadian Chartered Bank, splitting his time between Vancouver and Toronto. Rob has completed his CFA and is a member of the Association for Investment Management and Research (AIMR).

For his full bio, visit: NicolaWealth.com/OurTeam/RobEdel


About Your Host — Ethan Astaneh

Ethan is a Financial Advisor in the firm’s Vancouver office. He provides strategic advice to high net worth business owners, professionals, and retirees, and offers his clients a wide range of financial services, including; retirement income planning, business succession, and continuation planning, investment management, tax and estate planning, charitable giving, and intergenerational wealth transfer. Ethan is also the host for the Lead Impact and Market Commentary segments of the Wealth Exchange podcast.

For his full bio, visit: NicolaWealth.com/OurTeam/EthanAstaneh



This presentation contains the current opinions of the presenter and such opinions are subject to change without notice. This material is distributed for informational purposes only and is not intended to provide legal, accounting, tax or specific investment advice. Please speak to your NWM advisor regarding your unique situation. Forecasts, estimates, and certain information contained herein are based upon proprietary research and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. NWM Fund returns are quoted net of fund-level expenses. Past performance is not indicative of future results. All investments contain risk and may gain or lose value. Projected returns are estimates only. Returns are not guaranteed. NWM is registered as a Portfolio Manager, Exempt Market Dealer and Investment Fund Manager with the required provincial securities’ commissions in Canada.