# The Ultra-Rich Playbook: Where Big Money Is Moving Now

Page: https://stenobird.com/podcast/in-the-money-with-amber-kanwar-7168627/the-ultra-rich-playbook-where-big-money-is-moving-now
Text version: https://stenobird.com/podcast/in-the-money-with-amber-kanwar-7168627/the-ultra-rich-playbook-where-big-money-is-moving-now.md
Podcast: [In the Money with Amber Kanwar](https://stenobird.com/podcast/in-the-money-with-amber-kanwar-7168627)
Published: 2026-05-19T10:00:00+00:00
Episode link: https://share.transistor.fm/s/a4031337
Audio file: https://media.transistor.fm/a4031337/c6c2050e.mp3
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JSON: https://stenobird.com/v1/public/podcasts/in-the-money-with-amber-kanwar-7168627/episodes/the-ultra-rich-playbook-where-big-money-is-moving-now
Duration seconds: 2524

## Resource

The price of admission is $25 million — and how you invest changes completely once you get there. On this episode of In the Money with Amber Kanwar , Stephen Harvey, CIO of Sagard Wealth, breaks down how ultra-high-net-worth investors are positioning portfolios today — and why it looks nothing like a traditional 60/40. He explains how families are increasingly thinking like institutions, with heavy allocations to private markets, real assets, and global opportunities. From the AI capex boom to the case for commodities, Japan, and even Brazil, Harvey lays out where he sees the biggest opportunities — and why owning the “picks and shovels” of major trends may matter more than chasing headlines. In the Mailbag, Harvey shares why Japan is a top international overweight tied to structural economic change and a weaker yen, while Korea remains on the watchlist. He weighs in on the AI power trade through names like Talen Energy (TLN) and Constellation Energy (CEG), and explains why nuclear and grid infrastructure are key to the next phase of AI. He also makes the bullish case for copper through Lundin Mining (LUN.TO), highlighting a growing supply deficit, and discusses uranium exposure via Denison Mines (DML.TO). In Pro Picks, Harvey highlights three high-conviction themes the ultra-rich are leaning into. First, biotech — where he sees a wave of M&A driven by a looming patent cliff for big pharma, with names like Abivax (ABVX) and Scholar Rock (SRRK) on his radar. Second, U.S. regional banks, which he says are poised to benefit from consolidation, deregulation, and a steeper yield curve, with exposure available through the SPDR S&P Regional Banking ETF (KRE). And third, Brazil — a contrarian opportunity tied to energy and food exports, high real yields, and potential…

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