Last week, we covered Canadian Apartment Properties $CAR.UN.TSX ( ▲ 0.72% ), a REIT potentially poised to surge in an era of low rates.

But according to Desjardins, not all REITs are created equally. Last week, the firm flagged weakness in Allied Properties $AP.UN.TSX ( ▼ 1.32% ), arguing it may be shut out of the return-to-office (RTO) boom.

Why? Its portfolio of 174 urban office buildings somehow managed to have minimal exposure to Toronto’s financial core — where early RTO activity has been highly concentrated. So, basically, a stock portfolio in 2025 with no Nvidia $NVDA ( ▲ 2.05% ).

— William D.

In my years as a wealth advisor at JPMorgan Private Bank, I learned there’s really only one thing separating the 1% from everyday investors:

Information.

The ultra-wealthy don’t have better instincts than you, or even better luck. Just better information. And access to it is tightly gatekept, within institutional analysts’ client-only notes, or behind the Bloomberg Terminal’s $20,000+ paywall.

They may not want you to have the best investing information out there. But we do.

Street Sheet Research compiles all the most actionable, impactful happenings on Wall Street into one digestible weekly report. Join your fellow readers in taking your portfolio into your own hands.

The Globe and Mail: Canada’s GDP rose 0.2% in July, topping forecasts and ending three straight monthly declines.

YF: Canadian business groups warn of a “massive” blow from the Canada Post strike, threatening holiday shipping and small firms’ payments.

Bloomberg: The TSX Composite Index closed above 30,000 for the first time last week, fueled by gold miners and strong earnings.

IE: Canadian tourism spending rose 0.9% to $26.5B in Q2, as higher domestic travel offset falling US and international visits.

BNN Bloomberg: Chinese toy giant Pop Mart will open its first Canadian store at CF Richmond Centre in British Columbia this fall.

In response to tariff uncertainty and recessionary headwinds, Prime Minister Carney plans to pump $500 billion into Canada’s economy by expediting mining and energy projects, spending on housing and infrastructure, and removing trade barriers between provinces.

For context, this stimulus would amount to a quarter of Canada’s current GDP, according to TD Economics. 

This pivot to domestic resilience is Canada’s “largest economic transformation since World War II,” according to Barron’s. And this economic tailwind has helped the Toronto Stock Exchange to return roughly 20% year-to-date, compared to just about 12% for the S&P 500.

Unlike the latter, Canada’s stock market is scant on high-growth AI plays. However, according to Toronto economist David Rosenberg, that might not be a bad thing. Rosenberg argues that this has created a dynamic where investors are being compensated more for buying Canadian stocks, thanks to a higher equity risk premium. 

Meanwhile, strong demand for natural resources amid a commodity-hungry global AI boom could further boost Canada’s economy. All said, despite hovering near record highs with ample risks on the horizon, Rosenberg expects Canadian stocks to continue outperforming over the next 12 months.

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Canada’s stock market may not be tech-heavy. But that doesn’t mean it’s devoid of AI plays. In fact, one Canadian silver miner is tapping into the $15.7 trillion AI boom, with a method as effective as it is indirect.

Silver, the most conductive metal out there, is needed in semiconductors and solar panels that power AI data centers. Industrial demand is a big reason prices are pushing all-time highs.

That’s great news for Vancouver-based First Majestic $AG ( ▲ 2.22% ). The silver miner just logged, in the words of CEO Keith Neumeyer, the “best quarter ever in the company’s history.”

First Majestic produced 3.7 million ounces of silver last quarter, up 76% year-over-year.

Perhaps predictably, with silver prices climbing, its revenue grew even faster, hitting $68 million.

Neumeyer also reported a record cash position for the company, with cash flows of about $115 million and $510 million in the bank.

Neumeyer also pointed out First Majestic’s position as the closest thing to a “pure play” in the silver mining business, with 55% of revenues coming from silver.

Silver is mostly a byproduct metal, meaning most miners produce it on the side while pursuing gold. So this level of concentration is rare in the industry, with First Majestic’s closest competitor deriving just 44% of revenues from silver.

For Canadian investors, the dearth of obvious AI plays has been both curse and blessing: fewer stratospheric gainers in the TSX, and fewer risks that its record highs are propped up by unrealistic expectations.

But for those seeking the best of both worlds — playing the AI boom without backing volatile tech companies — First Majestic might just be the first place to look.