Market Call: Tim Regan's Outlook on North American Equities (April 20, 2026)

Why It Matters

Regan’s outlook pinpoints where North American investors can find resilient, cash‑generating opportunities amid oil volatility, trade uncertainty, and AI-driven tech shifts, guiding portfolio allocation for the coming months.

Key Takeaways

• Focus on oil price impact and geopolitical strategy for equities.
• Uncertainty in US‑Canada trade talks drives need for clearer guidance.
• Oracle's AI bets create upside potential but valuation remains high.
• Canadian banks remain strong; correction unlikely in near term.
• Active buying in Microsoft, CP Rail, and select US banks recommended.

Summary

Tim Regan, managing director at King West & Company, joined Market Call to discuss the current state of North American equities. He framed the conversation around the ongoing oil‑price roller coaster, the looming US mid‑term election, and the uncertain renegotiations of the Canada‑US trade deal, emphasizing that investors must look through short‑term volatility and focus on fundamentals such as the price at the pump. Regan highlighted several macro and sector themes: oil‑price dynamics will shape geopolitical strategy; inflation spikes driven by gas could delay rate hikes; Canadian banks remain an oligopoly delivering 20‑40% ROE and are unlikely to see an imminent correction; Oracle’s massive AI investment offers upside but its stock trades at a premium; and the firm recently added Microsoft, CP Rail and select US banks (Citi, JPMorgan) to its portfolio, citing AI‑driven growth and stable cash‑flow models. Memorable remarks included, “look through it” when markets wobble, and “the real price is the price of the pump,” underscoring the consumer‑facing impact of oil. He also described Canadian banks as “the best known oligopoly” and warned that while GFL’s takeover of Secure Waste caused a stock dip, the underlying assets still hold upside. The takeaway for investors is to maintain a long‑term bias, prioritize sectors with clear cash‑flow potential, and stay alert for trade‑deal clarity that could unlock further equity upside across both Canada and the United States.

Original Description

Tim Regan, managing director at Kingwest & Company, shares his outlook on North American Equities.

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