In this webcast edition of InFocus, TriCert CEO Mike Gassewitz and Chief Investment Officer Brian Durno, CFP®, CFA® unpack the latest economic and market trends shaping portfolios in 2025.
From diverging Bank of Canada and Federal Reserve rate paths to the resilience of corporate earnings and narrowing credit spreads, the discussion highlights how disciplined diversification continues to anchor TriCert’s investment philosophy.
The discussion also spotlights a sector deep dive, comparing utilities and technology, to illustrate how different sources of return can work together to manage volatility and continue to potentially add long-term grow.
Chapters (forward to content)
- Opener (00:00)
- Introduction (00:12)
- Interest Rates, Inflation, and the Bond Market (00:39)
- Spreads, Tariffs, and Profits (05:53)
- Equity Valuations and Sector Analysis (12:53)
- Special Topic: Technology vs Utilities (19:25)
Recorded on November 7, 2025
This content has been prepared by TriCert Investment Counsel Inc. The information, including forecast financial information, should not be considered as advice or a recommendation to investors and does not take into account your particular investment objectives or financial situation. Before acting on any information, you should consider the appropriateness of the information and speak with one of our portfolio managers. All securities and financial products or instrument transactions involve risks, including the risk of adverse or unanticipated market, financial or political developments and, in international transactions, currency risk. This content may contain forward-looking statements, including statements regarding our beliefs on current expectations and market conditions. Readers are cautioned not to place undue reliance on these forward-looking statements. TriCert Investment Counsel Inc. does not undertake any obligation to publicly release the result of any revisions to these forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events. While due care has been used in the preparation of forecast information, actual results may vary in a materially positive or negative manner. Forecasts and hypothetical examples are subject to uncertainty and contingencies outside TriCert Investment Counsel Inc.’s control. Methodologies and assumptions applied in calculating performance figures, returns, and other metrics discussed in this podcast are based on established internal standards and recognized industry practices. Comprehensive documentation detailing the calculation methods and underlying assumptions is available upon request. Past performance is not a reliable indication of future performance. © 2025 TriCert Financial Group Inc. All Rights Reserved.
Brian Durno, CFP®, CFA®
As CIO, Brian leads the organization in following a quality sector-based investment approach for all client portfolios. He joined TriCert Investment Counsel in 2016 as a Portfolio Manager, responsible for building client portfolios with a disciplined, value-oriented investment approach. Brian earned a Bachelor of Commerce degree from Queen’s University in 1995. He is a member of the CFA Institute and the CFA Society of Ottawa, a Certified Financial Planner, and a Chartered Financial Analyst charterholder.
