Introduction

 

 

We warmly welcome Amit Parmar, who’s joining our Wealth Morning writing team as an analyst.

He is deeply passionate about understanding how businesses create value, and he brings strong financial modelling skills to his research.

Amit has 10+ years of experience across firms like State Street, AMP Capital, and Sydney Water, where he has done analysis on institutional investments ranging from $10 million to $3 billion. He focuses on what matters most: strategic asset allocation and long-term performance.

Amit holds a Master of Business Administration in finance from the University of Wollongong. With an intelligent approach to downside protection, he offers a contrarian perspective on global investment strategy.

We hope you enjoy his investigation into an emerging value opportunity in Canada.

 

 

Everyone is looking at America.

The Magnificent Seven. The AI boom. The S&P 500. The Nasdaq. The endless noise machine of Wall Street.

Now, to be fair, that is where most of the action has been. But here’s my problem with this craze: when everyone is looking in the same direction, you are rarely early. In fact, you are usually late.

To get into this glitzy party, you’re having to pay a high price for entry. And even when you do get in, they make you stand in a very crowded room. It’s loud, hot, and sweaty.

For me, that is not value investing. Value investing is, by nature, a quiet pursuit. It is not glamorous. It is not fashionable. It is not designed to win popularity contests.

Value investing is about looking where others are not looking. It is about finding the dull. The ignored. The unloved. It is about doing the lonely work before the crowd arrives.

This is what prompted me to start looking at Canada.

At a time when global equity indices are increasingly dominated by American Big Tech, I wanted to go elsewhere. I’m doing it because I believe concentration creates risk. When the whole world is leaning heavily into the same market, a prudent investor should at least ask: ‘What am I missing somewhere else?’

Of course, at first glance, the Canadian market doesn’t appear to be exciting. What you have is an economy that has underperformed lately. There’s too much socialism. Too much wokeness. The vibes are negative all around.

 

Source: Michael A. Arouet / X

 

For this reason, the Canadian market rarely produces the same breathless headlines as Silicon Valley or Wall Street.

But that is exactly why it has caught my attention.

I do wonder: is it possible that the bad news has been overdone? Has the negativity on Canada been oversold?

After all, we shouldn’t forget that Canada has an estimated US$33 trillion worth of natural resources. This makes it the fourth most valuable country in the world in terms of mineral wealth. That’s not to be scoffed at.

Also, I can see that early signs of economic stabilisation are starting to appear. Exports are now experiencing an uptick, with commodity prices offering a tailwind. Over the next 18 months, the International Monetary Fund is projecting that Canada could achieve the second-fastest growth among the G7 nations. If so, that would place it right behind the United States. Imagine that.

From June to December 2025, I note that the Canadian stock market’s cyclically adjusted P/E ratio increased from 22.89 to 26.20. This represents a rise of about 14.5%.

Meanwhile, the American market moved from 32.87 to 34.73. That’s up about 5.7%. This suggests that US large-caps are slowing down. This could give vigilant investors an opportunity to catch the momentum with Canadian value assets.

So, is a quiet turnaround on the cards? Could this be the revival that no one is talking about?

Well, just stop and think about it. Sometimes the most interesting opportunities are not found in the spotlight. Sometimes they are hiding in the most boring corner of the room.

I believe this could be one of them. This is why I’ve been looking at a Canadian business that could be poised to benefit from the nation’s shift in fortunes…

 

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