The Weekend Notebook


Thoughts, views and opinions as current events unfold: With topics taken from current market events and my latest book — When the Bubble Bursts: Surviving the Canadian Real Estate Crash (Dundurn: March 2015)  and my first book Investment Traps and How to Avoid Them (1999) — this short piece will give you unique and valuable insights filtered by my thirty-six years’ experience as an investment professional.
 

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The AI boom launches into space

Published by Hilliard MacBeth on Nov 07, 2025

EVOLUTION OR DELUSION? The latest big idea from the AI boom takes flight—literally. Moving artificial intelligence computation into low-orbit space might be the craziest idea yet to emerge from the AI bubble that refuses to burst. The logic is simple—and... Read more
The Bank of Canada cuts again but fails to address housing

Published by Hilliard MacBeth on Oct 31, 2025

The Bank Cuts Again — But the Real Problem Is Housing The Bank of Canada trimmed its policy rate by 25 basis points this week to 2.25 percent, pulling Canada’s official rate well below the U.S. Federal Reserve’s 3.75 percent — also lowered this week.... Read more
China rare earth grip tightens

Published by Hilliard MacBeth on Oct 24, 2025

The global fight over rare earth elements has entered a new and dangerous phase. China holds the advantage—and Washington has few good options. In October, Beijing announced new restrictions on exports of rare earth elements (REEs). Any product containing... Read more
Canadian auto industry faces creative destruction

Published by Hilliard MacBeth on Oct 17, 2025

The Canadian auto industry is in deep trouble. Donald Trump’s new tariffs threaten cross-border trade — and U.S. automakers are already moving production south. Here’s the kicker: Canada’s auto sector isn’t even Canadian. Toyota and Honda build three-quarters... Read more
Canadian pipelines: good bad ugly and nightmares

Published by Hilliard MacBeth on Oct 10, 2025

Pipelines: The Good, the Bad, and the Ugly Another pipeline fantasy rises from the political graveyard. Premier Danielle Smith is pitching a “ghost” pipeline to the West Coast — no sponsor, no permits, vague route, no funding. It’s Northern Gateway all... Read more
Cut throat competition in China could spread worldwide

Published by Hilliard MacBeth on Oct 03, 2025

China’s War on “Involution” China is cracking down on “blind and disorderly competition,” also called involution. Factories keep building too much — solar, batteries, EVs — and prices collapse. That deflation spills abroad. How low can China push prices... Read more
The Mag 7 are the most expensive stocks ever by a wide margin

Published by Hilliard MacBeth on Sep 26, 2025

Mag 7: The Most Expensive Stocks in History The top stocks in 2025 make the dot-com bubble leaders look cheap. Back in 2000, the leaders were Microsoft, GE, Cisco, Walmart, Exxon, Intel, and NTT. Today, it’s the “Magnificent 7” — Nvidia, Microsoft, Apple... Read more
Powell only has bad and worse options

Published by Hilliard MacBeth on Sep 19, 2025

Powell’s Quandary: Bad and Worse Options Chair Jerome Powell of the U.S. Federal Reserve admits he is in a bind: the economy is flashing both weak job numbers and rising inflation. What’s a Fed to do? This week the Fed trimmed its policy rate by 25 basis... Read more
Bank mortgage lending created the Canadian housing bubble

Published by Hilliard MacBeth on Sep 12, 2025

Substantial acceleration in bank mortgage lending for residential real estate was essential in creating the Canadian housing bubble. Now that the housing bubble is bursting new mortgage lending could slow or even decline. If the rate of increase in new... Read more
The unicorn that wants to disrupt defense

Published by Fraser Betkowski on Sep 05, 2025

Not long ago, a privately held company valued at over $1 billion was a rare and remarkable thing—a “unicorn” in the venture capital world. Today, they’re more common, but some still stand out. Anduril Industries is one of them. Founded by Palmer Luckey... Read more