About this episode

Paul Moroz discusses how disruption is reshaping investment strategies and stock market dynamics.

The market isn’t just rotating—it’s being rewritten. In this episode of In the Money with Amber Kanwar , Paul Moroz, Portfolio Manager at Mawer Investment Management which has more than $65 billion in AUM, explains why we’ve entered an era of “change investing,” where the biggest opportunities—and risks—come from rapid shifts in technology, competitive advantage, and capital intensity. From AI disrupting software to semiconductors becoming a larger share of the global economy, Moroz breaks down how investors can navigate a market where “barbarians are at the moat” and not every dominant company is safe. He also shares why balancing optimism with caution is key, and how to position a portfolio that can win no matter how this cycle plays out. In the Mailbag, Moroz weighs in on some of today’s most debated stocks, including Shopify (SHOP), where strong growth wasn’t enough to satisfy elevated expectations, Amphenol (APH) and the copper vs. optical debate in AI infrastructure, eBay (EBAY) amid takeover speculation, and Caterpillar (CAT), which has quietly become an AI-adjacent play through data centre demand. He explains how expectations, valuation, and macro forces—from rising…

People in this episode

Host: Amber Kanwar

Guest: Paul Moroz

Topics covered

• disruption
• change investing
• technology shifts
• stock market
• portfolio management
• AI impact
• investment strategies

Keywords

• disruption
• change investing
• AI
• semiconductors
• portfolio management
• Shopify
• Amazon
• Caterpillar

Mentioned in this episode

Organizations: Mawer Investment Management, Taiwan Semiconductor Manufacturing Company, Amazon

Products: Shopify, Amphenol, eBay, Caterpillar

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