The Polestar Podcast

Q3 2025 Market Outlook with Keith Allan

Episode Summary

In our quarterly Polestar Podcast update, Kevin Parton and Portfolio Manager Keith Allan review Q3 2025 and the path ahead. Despite bouts of volatility earlier in the year, staying invested and rebalancing have rewarded clients as the bull market—led by tech and ongoing AI tailwinds—continued. They address today’s big questions: elevated valuations, mixed economic signals (inflation, unemployment), uncertain rate cuts, and the role of gold after a powerful run. The takeaway: avoid market-timing, keep cash at prudent levels (not as a strategy), diversify across assets, and stick to a rules-based rebalancing framework aligned to your goals and risk tolerance.

Episode Notes

Episode Highlights  

• Strong YTD for equities: Clients who stayed invested captured the 2025 bull market.
• Valuations are high, but room remains: Tech/AI leadership and retail flows can still support gains.
• The market and the economy don’t move in lockstep: Softer labour data and mixed inflation don’t directly dictate stock moves.
• Rates are uncertain: One cut behind us; future cuts are data-dependent—plan, don’t predict.
• Gold’s big run: Keep it as a diversifier; consider trimming profits rather than overweighting it.
• ...and more.

About the Guest – Keith Allan

Keith Allan is a Portfolio Manager with Harness Investment Management. Harness has engaged in a strategic partnership with VELA Wealth and provides discretionary portfolio management for many of VELA’s clients. With more than 15 years of buy-side investment management experience, Keith brings a wealth of knowledge and experience to provide insight and guidance to clients regarding their investment portfolios. At Harness, Keith is responsible for developing and maintaining investment portfolios for VELA clients. To learn more, please visit Harness Investment Management team page.

About the Host – Kevin Parton

Kevin Parton, CFP professional, specializes in personal and business financial planning, tax reduction, and estate planning. Kevin is diligently concentrating on client education as a powerful strategy for building financial certainty. As no financial situation is the same, Kevin and his team monitor clients’ plans and implement personalized strategies to reduce their personal and corporate taxes, and protect their income, assets, and loved ones against the financial consequences of a serious illness, injury or death, ensuring clients maintain financial certainty and peace of mind. To read more, please visit the VELA team page.

Disclaimer

The information provided in the podcast transcript is designed for general informational purposes only and is not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.