AI is forcing investors to rethink one of the most time-tested strategies in the market—and it could have major implications for how you build your portfolio. On this episode of In the Money with Amber Kanwar, Dan Rohinton, Portfolio Manager at iA Global Asset Management, makes the case that the traditional buy-and-hold approach is no longer as reliable in a world where artificial intelligence is accelerating disruption across nearly every industry.
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Past Pro Picks: April 1st, 2026
- Alphabet: +156% (Still owns, but cautions it is still expensive)
- Amazon: +42% (Still owns, one of the fund’s biggest positions)
- Microsoft: +9.5% (Lagging, brings it back as a Pro Pick today)
- Average return: 69%
Pro Picks : Three Underperforming Large Caps Poised for a Comeback
Top Idea – Cheaper Valuation with Durable Long-Tail Strength Despite AI Risks
- Trading at roughly 20x earnings (15-20% cheaper than last year despite the stock being up) with Azure accelerating from 31% to 39% growth
- Serves the long tail of blue-chip companies across every industry (less concentrated than peers), positioning it well for broad diffusion of AI technology
- Path to monetization via Copilot bundles (e.g., new E7 bundle) on top of existing core subscriptions, similar to how Teams succeeded
- Holds two thoughts: acknowledges token-reseller risks and OpenAI shifts, but believes they have not lost the war and maintain strong enterprise positioning
Meta Platforms (META)
High-Conviction Bet on Small-Business AI Upside and Spending Flexibility
- Trades at about 17x forward earnings, largely due to heavy spending that can be dialed back (openly stated they could reduce from 150+ to 100 or 80 billion)
- Massive capex creates an opportunity lever: strong returns could keep spending high; weaker returns unlock significant free cash flow
- Unique positioning for small businesses via agents (e.g., acquired Manis AI) to enhance workflows, targeting, and productivity tools akin to QuickBooks/Intuit
- Core advertising business reaccelerating with better targeting, plus right to upsell more agentic services over time
Visa (V)
Boring but Durable Compounders with Payment Velocity Optionality
- Trading roughly one standard deviation below long-term valuation range with stable long-term growth rates and consistent buyback algorithm
- Payments infrastructure remains hard to displace (multiple past failed attempts by big players); entrenched network benefits from rising credential/authentication value in an agentic world
- Potential for increased payment velocity and more instances of network usage as digital transactions evolve
- Value-added services continue to drive growth on top of the core durable network, offering 21x multiple for this level of durability plus acceleration optionality
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DISCLAIMERS: This text AI generated and should be checked against actual delivery. The content provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice. The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.
