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Philip McKellar

Philip McKellar

General Manager, analyst, and portfolio manager at Contra the Heard Investment Newsletter, a Canadian contrarian value-investing service.

Sep 11, 2026

15:57
Yeah.
15:59
Yeah, it's a very tough one.
16:01
There are certain sectors where it's tougher than others.
16:05
So big U.S. retail giants are having trouble when they have big factories or sources of supply overseas.
16:13
So those are quite difficult.
16:14
And you can see that in certain retail names, some really high-flying ones like Nike, which has a whole bunch of issues, but this is one of them.
16:22
all the way through to lululemon and stuff so there there's a whole bunch of issues there when i look at um say the auto sector is so big here in canada especially in ontario and the trade war between the u.s and canada that that is that's i haven't got my head quite around how it impacts autos and the auto supply chain yet although that's certainly a goal i'm trying to get my head around um When the first wave of the tariff war broke in, say, February 2025, I remember I had a whole bunch of companies on my watch list that I thought could do well in a trade war.

8 MINS LATER

25:24
So tell us what you like right now in the market.

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