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The AI trade is showing signs of cracking.

Rising interest rates, concerns about massive data centre spending, and questions about future returns are putting pressure on some of the market's biggest winners. Is your portfolio prepared if the AI boom loses momentum?

In this episode of the Long Term Investing Podcast, Barry Schwartz, President & CIO of Baskin Wealth Management, and Ernest Wong, Head of Research & Portfolio Manager, discuss why

diversification matters more than ever and why they're sticking with their strategy of owning high-quality, profitable businesses rather than chasing the hottest stocks. They explain the risks of an increasingly AI-concentrated S&P 500, why rising borrowing costs could spell trouble for companies like

CoreWeave (CRWV), and what separates speculative AI investments from companies that

can fund their own growth.

They also take a closer look at Taiwan Semiconductor (TSM), which is benefiting from explosive demand for AI chips, and explain why its disciplined approach to spending makes it an attractive long-term investment. Plus, with fast-food stocks struggling under the weight of inflation and a stretched consumer, Barry and Ernest discuss the challenges facing McDonald's (MCD) and why they continue to see opportunity in Domino's

Pizza (DPZ), despite its recent struggles.

With markets shifting and investors questioning what's next for AI, Barry and Ernest explain why fundamentals, cash flow and patience—not short-term performance—remain the keys to building long-term wealth.

Learn more about Baskin Wealth Management at baskinwealth.com.