Long Term Investing - With Baskin Wealth Management

0:00: Introduction

1:41 Impact of Bank of Canada’s Interest Rate Policy on Markets

9:50 Does it Really Matter: US Presidential Election

14:12 Breaking Down the Earnings Season

15:28 Update on CoStar: Gap Between Fundamentals and Stock Price

25:16 The Parallel Between Meta and CoStar

27:00 TFI International Reported Earnings: What to Think?

32:13 Case of Moody’s: Reports Amazing Earnings, Stock Price Falls

39:27 Why Did Netflix Go Up So Much After Earnings?

46:36 How to Think About Earnings in General

In this week’s episode, Barry and Ernest discuss how Baskin Wealth’s investment team is reacting to the upcoming U.S. election. In the feature discussion, Barry and Ernest review earnings from CoStar, TFI International, Moody's, and Netflix. Using these four companies, they give examples of how the market reacts to good and bad earnings reports and what investors can learn from those reactions.

1:45 Subdued response to our Garmin pitch?

3:48 Our take on the strong markets

8:23 Learnings from Adobe MAX

17:16 Our experiments with using AI tools in investment research

22:24 Updates on Couche-Tard's proposal for 7-11

34:27 Domino's Pizza earnings

In this week's episode, Barry and Ernest cover several topics. With markets at all-time highs, Barry and Ernest provide their thoughts on what investors should consider going forward. Next, the guys review the Adobe Max presentation and provide their thesis on why Adobe could be the market leader in GenAI. Speaking of AI, Ernest talks about his experience using AI for investment research. The ongoing saga of Couche-Tard’s proposal to acquire 7-11 continues and Barry and Ernest breakdown all the drama. Finally, Domino’s Pizza reported a decent quarter and Barry and Ernest discuss why Domino’s continues to take market share from its competitors.

Don't forget to register for our free webinar on October 29th at 7pm. https://baskinwealth.com/media-appearances/quality-investing-for-the-long-run/

3:31- Did we miss the Chinese stock rally?

9:15- Why we sold Vail Resorts and CN Rail

18:24- Benefiting from bad weather

22:34- Breaking down CNQ's recent acquisition

In this week's episode, Barry and Ernest discuss multiple fascinating topics. The podcast starts with a conversation on the recent rally in Chinese stocks and why we generally avoid investing outside North America. Next, the conversation turns to weather and why bad weather played a part in Baskin Wealth’s sales of Vail Resorts and CN Rail. On the same topic, Barry and Ernest discuss two companies in the Baskin portfolio that benefit from bad weather events. The feature discussion is on Canadian Natural Resources acquisition from Chevron and why Barry and Ernest are positive on the deal.

On October 29th, 2024 at 7pm. Barry and Ernest will be doing a free live webinar called, Quality Investing for the Long Run. They will be taking questions after the presentation. Please register for free here: https://baskinwealth.com/media-appearances/quality-investing-for-the-long-run/

0:00 Introduction

2:10 The DoJ's antitrust lawsuit against Visa

12:03 Introducing Garmin

13:14 Garmin's pivot from car GPS

18:00 Garmin's unique distribution strategy

22:55 Breaking down Garmin's segments

29:30 Garmin’s smart capital allocation

33:34 What does Garmin look like in 10 years

This week, Barry & Ernest wonder whether there is a pattern to recent Department of Justice antitrust lawsuits before breaking down their recent purchase of Garmin.

0:00 Introduction

1:05 Brookfield’s $50 Billion Canada Fund

4:35 Adobe: a great business

8:56 Why are Adobe’s stock so volatile?

12:15 Future Drivers of Growth for Adobe

16:01 Ferrari: Car company or luxury company?

25:34 Ferrari’s EV Strategy

30:27 What is Ferrari’s opportunity?

36:08 Valuation thoughts

41:25 Bell’s Sale of MLSE to Rogers

This week, Barry and Ernest react to Adobe's earnings and future growth prospects, then discuss their investment thesis on Italian luxury good manufacturer Ferrari.

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!