CIO & Portfolio Manager at Baskin Wealth Management
Member since: Sep '09 · 2730 Opinions
Earnings will be crucial going forward. Markets have made such a big move since 2022, and if you missed 2023, sorry. He's surprised about the strength of 2024 so far. The US economy is strong, but Canada is starting to weaken. What will happen to the mortgage market when we head into 2026-7 as those mortgages come up for renewal. Nobody knows what will happen and something good or bad can derail a market. So, best to be a long-term investor. Ignore the macro and stay invested.
He started buying it in 2021 when shares fell. Only lately has this perked up. The own info about real estate deals globally, and they run platforms like apartments.com and the new Homes.com, launching at the right time now and is already the #2 realtor site. Lots of cash flow. The stock looks expensive, but the CEO is focussed on growth. Fine potential here.
Has owned this a long time, wished he owned both. A great compounder. They reinvest their huge cash flows to buy companies and grow dividends. It benefits from inflation as people spend more. The valuations of both have never been cheap, but you get what you pay for. The remain remains large.
Has owned this a long time, wished he owned both. A great compounder. They reinvest their huge cash flows to buy companies and grow dividends. It benefits from inflation as people spend more. The valuations of both have never been cheap, but you get what you pay for. The remain remains large.
He's reduced his holding (and entirely sold Rogers). Concerned if their cash can cover their dividend. Is waiting for more growth. The company says that capex will decrease in a few years and they can sustain the dividend. Clearly, the market is concerned with their 9% dividend. Great managers and high returns? Both no.
Doesn't like REITs now for poor returns, but does like Granite for its strong balance sheet, management, conservative payout ratio and are in the right sector, industrial which will pick up. Good track record of raising their dividend and a likely take-out candidate. If interest rates decline, the REITs will benefit. But it's not a business model for growth.
It's dropped $140. Got caught up in the AI hype earlier this year. They reported results which showed no benefit yet from AI. Nothing changed with the company itself, but the PE ran up. Company guided for strong growth and they will buy back $25 billion shares over 5 years. This is a long-term winner. His wife is a designer and uses Adobe software.
A rare quality company in Canada (like DOL-T). The Thomson family still owns a ton of shares, great cash flow and are capital-lite. All good. PE is high but worth it. That said, he prefers US stocks like Moodys and Costar. Would watch this.
Look at their payout ratio and cash flow. ENB is making a big bet on natural gas in the US, which is the right move. The US needs nat gas production. But the dividend is very high and the balance sheet weak. He hopes interest rates come down. If you own this, you will do okay and collect the dividend, but it's not for him as a long-term investor.
Can't predict their earnings, but a lot of good news is already baked into the stocks. No earnings growth is expected this and next year. Nervousness in the US banking system has attracted assets to JPM, though. For the first time in a long time, he's more attracted to Canadian than US banks, because the bad news has been baked into the former and their valuations are better with better earnings growth. That said, if JPM pulled back, he's consider this.
A long-term compounder, a top performer, but ATS is not easy to understand. They buy tech and manufacturer companies. IS concern that EV sales are flopping, but the PE of ATS looks attractive. Would look at during a pullback.
Has pulled back recently for good reason: more competition and less demand in China, less demand overall for iPhones and an unknown AI strategy. Also the PE got too high. But these are short-term concerns. The DOJ lawsuit adds more scrutiny, but that suit states that 98% of iPhone users re-purchase the phone, and young people want to buy those phones. A fine business. The bad news is priced in. He looks forward to June when Apple announces AI technology, and September for the iPhone launch. Lots of share buybacks and strong balance sheet. Loves it.
A good business. Just made a huge buy of a private equity company which fills a hole at BLK. BLK lags peers like Blackstone and KKR, so there's catch-up to come. Long term they will grow 3-5% organically. Interest rates falling will help. Is very undervalued now.
Shares ran up too far. Their business plan is simple: likely open 30 stores a year given insane demand. They just opened one in Shenzen, China. Are only 870 Costco stores vs. 10,000 Walmarts, so there's room to grow. PE isn't cheap, but 10 years from now you will be happy owning this.
It has a high-growth valuation without growth this year. Car deliveries are very disappointing. Demand has normalized post-Covid. Margins are disappointing, more like any car company. He's waiting for the next catalyst and Elon Musk is a genius. What's popped share recently are self-driving cars, but still years away. Doesn't know if this will be a winner short term.