Most equity strategies focus on finding winners — but what if you could also benefit when certain stocks decline? In this episode, hosts Zayla Saunders and Hilly Cutler are joined by Sachal Mahajan and Yasser El Boudi, who pull back the curtain on long-short strategies: how they work, and how they’ve held up through some of the biggest market drawdowns of the past three years.

Zayla Saunders, Vice President of ETF Online Distribution at BMO Global Asset Management (BMO GAM), and Hilly Cutler, Director of Portfolio Consulting and Senior Portfolio Consultant at BMO GAM, are joined by Sachal Mahajan, Director and Portfolio Manager, Disciplined Equities, and Yasser El Boudi, Associate Client Portfolio Manager, ETFs, both of BMO GAM. This episode was recorded live on Friday, October 23, 2026.

Funds mentioned:

Sources:

Morningstar Direct, BMO Global Asset Management as at October 23, 2026

CIBC MONTHLY ETF FUND FLOWS, Jennifer Li |October 2026

BMO Capital Markets ETFs weekly - Markets, Macro & Money Flows, October 2026

AUM: Assets Under Management

Beta: A measure of the volatility, or systematic risk, of a security or a portfolio in comparison to the market as a whole. Usually, the market has a beta of 1.0. Stocks with betas higher than 1.0 are interpreted as more volatile than the market, and stocks with betas lower than 1.0 are interpreted as less volatile than the market.

Risk-adjusted Return: A measure of investment performance taking into consideration how much risk/volatility was assumed to generate it. Consider two investments, both of which return 10% over a given time period. The investment with the greater risk-adjusted return would be the one that experienced less price fluctuation. Two of the most commonly used measures of risk adjusted returns are Sharpe and Sortino ratios.

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The Case for Long-Short Investing