This week, U.S. markets have been fuelled by AI-driven tech rallies and the increased hope for a December rate cut. But this will end a relatively flat month. Closer to home, the TSX is moderately up in November. And globally, market action has been recently lead by European recovery and Asian exports, also capping off a flat month. Today's episode features portfolio manager Hugo Lavallée, who keeps tabs on both US, Canadian and global equities, all through his contrarian lens. This makes him the ideal guest today to share his market thoughts, with December and 2026 just around the corner. Hugo manages Fidelity Greater Canada Fund, Canadian Opportunities Fund, Climate Leadership, and is underlying manager on Global Equity+.   Recorded on November 26, 2025. At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information. For a fourth year in a row, FidelityConnects by Fidelity Investments Canada was ranked #1 podcast by Canadian financial advisors in the 2024 Environics’ Advisor Digital Experience Study.