Long Term Investing - With Baskin Wealth Management

0:00 Introduction

1:05 Is the September effect real?

4:52 Baskin's successful multi-baggers and performance

13:19 Feature discussion: Brookfield Investor Day

16:53 Brookfield's insider alignment with shareholder

17:55 Brookfield Corporation vs Brookfield Asset Management

20:15 Brookfield's strategy in the current economic environment

24:17 Oaktree & growth in private credit

26:50 Brookfield Corp's capital allocation strategy

30:11 Getting to $176 of value by 2029

39:37 Why we prefer BN to BAM

44:49 Succession in Brookfield

In this week's episode, Barry and Ernest discuss why buying and holding compounders works before breaking down Brookfield's Investor Day

 

0:00 Introduction

1:33 Pillars of Quality Investing

6:30 Problems with investing in lower-quality businesses

9:10 Are yield stocks going to rebound?

15:38 Updates about Alimentation Couche-Tard

17:45 Another reason why US equity markets outperform

23:00 Differences in performance between the Canadian banks

26:27 Numbers on the upcoming mortgage renewal wave

32:14 Berkshire Hathaway reaches a $1 trillion market cap

38:38 Tourmaline Oil acquisition of Crew Energy

In this week's episode, Barry & Ernest discuss their outlook for dividend-paying stocks, differences in performance between Canadian banks, and Tourmaline Oil's acquisition of Crew Energy.

0:00: Introduction

3:45: What Ernest and Barry learned on vacation

6:04: Reasons for stick to North American stocks

9:05: Convenience Store market in Japan vs North America

14:21: Alimentation Couche-Tard's acquisition proposal for Seven & i

16:34: Difficulties of making foreign acquisition in Japan

17:48: Couche Tard’s strong track record of doing M&A

19:09: Timing of Couche-Tard's proposal for Seven & i

25:17: Why Couche-Tard wants to acquire Seven & i

In this week's episode, Barry and Ernest are back from vacation and discuss their preference for North American stocks before doing a deep dive on Alimentation Couche-Tard's proposal to acquire Japanese convenience store giant Seven & i Holdings.

1:23: The recent trends of Canada's interest rates and economic growth

4:56: When should investors buy bonds?

6:45: Review of the first half of 2024

9:53: Growth concentration in the S&P 500

13:22: Reviewing stock performance by sector

14:58: What if? Discussions for the first half of 2024

19:21: Why using hindsight is a mistake

21:26: Netflix: One of our top performers YTD

25:35: How Google is outperforming everyone's expectations

28:46: How Costco's fee hike has impacted their stock

30:33: Constellation Software's recent performance

31:45: Insights into the perception of rising and falling stocks

36:21: Our thesis on Floor & Decor

41:18: Focusing on business structure rather than stock fluctuations

43:17: Are we currently in a bubble?

In this week's episode of the Long-Term Investing Podcast with Baskin Wealth, Barry and Ernest review the winners and losers in the Baskin Wealth portfolio for the first six months of the year. Companies discussed include: Netflix, Google, Costco, Constellation Software, Adobe and Floor and Decor. Barry and Ernest also talk their outlooks for the markets and the current risks. Check it out!

0:00: Intro

1:06:The role of fixed income in portfolios through history

7:49: Why we keep bond duration short

9:53: The attractiveness of fixed income today

13:22: Outlook for Canadian preferred shares

16:18: The under-performance of dividend paying stocks

19:56: Why we sold TD Bank

23:26: Why we sold the Canadian telecoms

27:02: Dividend sectors/names where we're seeing value today

With Barry on vacation, Ernest and David Baskin chat about the role of fixed income in a higher rate environment including bonds, preferred shares, and our outlook for dividend-paying stocks.

0:00: Introduction

0:27: What is a share buyback?

3:12: The pros and cons of buybacks

6:26: The only reason why a company should buy back shares

7:57: Why does CNQ spend so much on share buybacks?

11:26: Alimentation Couche-Tard's buyback announcement

15:24: The earnings from Couche-Tard

18:38: How can Couche-Tard combat inflation and retain its customers?

21:38: Alimentation Couche-Tard's new CEO

25:05: The TMX Group investor day

32:25: TMX Group's journey towards analytics

34:42: Ernest's book recommendation about Rogers and its acquisitions

In this week's episode, Barry and Ernest delve into the pros and cons of share buybacks, Alimentation Couche-Tard's weak quarter and CEO change, and share observations from TMX Group's Investor Day.

0:00: Introduction

2:04: Ernest's trip to a CCL Industries plant

8:48: CCL Industries' recent acquisition in the Middle East

10:47: A review of the TSX this year and comparisons to American stock exchanges

16:33: Why we own specific Canadian stocks, and whether currency makes a difference

18:42: What Ernest pays attention to in the market

19:38: Feature Discussion: National Bank's acquisition of Canadian Western Bank

22:15: Why National has done better than other Canadian banks

23:47: Why National acquired CWB

26:08: National Bank's strengths and opportunities

29:28: National Bank's avoidance of weak-points in the Canadian economy

In this week’s episode Barry and Ernest review National Bank’s rationale for offering to acquire Canadian Western Bank. They also discuss the recent under-performance of the TSX vs. S&P 500 and Nasdaq and why they are still finding attractive opportunities in Canada.

0:00: Introduction

1:56: A refresher on the new capital gains changes in Canada

3:37: What do the new changes mean for your portfolio? Should you act or do nothing?

6:44: Could the new capital gains changes hurt your portfolio?

7:54: Feature Discussion: Tax-free savings accounts

10:48: What if you want to start a TFSA for a child?

12:39: What if you want to move a stock to your TFSA?

15:21: The future of your TFSA if you start early

17:53: Should you go YOLO in your TFSA?

20:11: Dollar-Cost averaging in your TFSA

23:19: What does having a corporate account mean for your TSFA?

25:49: What makes TFSA's so attractive for you and your children?

28:27: Which account should you put your money into?

32:06: Over-contributions and other final tips about TFSA's

Join Barry and Benjamin for a special episode all about TFSA's.

0:00: Introduction

1:17: Barry talks about his trip to Calgary to visit clients.

3:25: A quick review of the markets in May and a preview of upcoming rate cuts in Canada

5:55: An update on our Costco thesis

8:40: reasons for strong e-commerce sales at Costco

10:33: Ernest’s experience buying a washing machine at Costco.

12:01: The trust that people have in Costco.

14:21: Costco adding value to its membership offering.

16:40: Is Costco’s valuation really that expensive?

18:15: Costco’s beautiful balance sheet

20:40: Costco treats its employees well which leads to happy customers.

21:22: Costco’s untapped pricing and potential store runway

24:07: Feature discussion on MSCI Inc.

25:35: Why we finally bought MSCI after watching it for over 5 years

27:55: quick primer of MSCI’s Index business.

29:00: Why MSCI is a great business.

31:42: MSCI benefits from the launch of new investment products

34:05: Why it is near impossible to switch your benchmark

35:00: Reason for the recent pullback

36:00: MSCI’s ESG business

39:40: MSCI’s capital allocation

MSCI is a provider of indexes and data for asset managers and, in our opinion, a high-quality business. Barry and Ernest provide the reasons for the purchase and their outlook for the company going forward. Plus, Barry and Ernest, have an update on our thesis of everyone’s favourite retailer, Costco.

0:00: Introduction

1:00: talking Domino’s Pizza crust and its stock.

4:42: Review of the Constellation Software Annual meeting.

5:50: Why the annual meeting is still be done virtually.

8:49: Constellation Software is a capital allocation company.

11:11: Why acquired growth has been a better driver of returns for Constellation vs. organic growth.

13:15: Why Constellation will have to invest more to boost organic growth.

13:45: Why Constellation has limited worries about copycats.

19:11: reviewing Constellation’s carve-out strategy.

21:04: strategies to boost deal activity.

22:52: Constellation open to issuing stock for large deals?

29:23: more spin-offs on the way?

32:21: Mark Leonard on selling some of his shares.

34:32: How will AI affect Constellation?

36:41: Will Constellation deliver good returns to shareholders going forward?

This week we have a treat for Constellation Software fans! Barry and Ernest review the Constellation Software annual meeting and do a deep dive on the company. The guys discuss Constellation’s capital allocation, organic growth, competition, spin-off, carve-outs, copycats, AI and future catalysts.