0:00: Intro

2:22: Our take (or lack of it) on Nvidia's earnings

4:32: Having patience for long-term investments as a long-term investor

7:29: Case study on Costar Group's investment in Homes.com

12:27: Case study on CCL Industries's flat stock price

15:45: Deep dive on Topicus.com 

With Barry back from vacation, Barry and Ernest get right back into discussing stocks and the markets. First, the guys discuss Nvidia and AI and sticking to you what you know as an investor. Next, they talk about three companies that are getting the long-term shareholders they deserve, CoStar Group, CCL Industries and Restaurant Brands. Finally, the feature discussion is on Topicus. Spun out from Constellation Software in 2021, Topicus is a serial acquirer of software companies based in Europe. The guys discuss the reason for the spin-out, Topicus' strategy, why it is listed on the TSX Venture exchange and why it trades at a higher valuation that Constellation Software.

With Barry away this week, Ernest talks with Baskin Wealth Management’s founder and Chairman, David Baskin about the story of Baskin and how wealth management has evolved. This episode is full of stories and wisdom from David’s extensive experience in the industry.

Jam packed episode this week! First, Ernest discusses what he does during earnings season. Next, Barry and Ernest discuss why stocks react the way they do after reporting quarterly earnings. Then, Barry and Ernest breakdown some recent quarterly earnings reports from Alphabet, Ferrari and Microsoft Finally, they have a feature discussion about the medical device giant, Stryker. Barry and Ernest discuss its moat and the outlook for its business going forward.

In this week's podcast, Barry and Ernest, talk streaming and the Canadian Railroads. But first they discuss how one should behave in a bull market and talk about the valuations of stocks as we start 2024. Then it is the feature discussion on Netflix. They discuss the latest earnings report and the game-changing deal with World Wrestling Entertainment (WWE). In the final segment, the guys talk about a business that has a lot less drama; CN Rail. They also review CN's latest earnings results and the outlook for the company going forward.

Our feature discussion today is about Blackrock, the $10T asset manager juggernaut. We discuss our reasons for owning Blackrock as well as a deep dive into its recent acquisition in the private equity space. We also discuss why this acquisition validates Brookfield's strategy. But before we get to that, we answer some of our viewer's questions about portfolio construction and when and how we decide to buy a stock. And we also talk Apple.

Happy New Year! We are back with our first episode of 2024. It is a packed show. First, Barry and Ernest, rant a little bit about short-term thinking and narratives that drive the market. Then, they discuss what Charlie Munger would have owned if he was a Canadian investor. Lastly, the guys discuss the big deals made by our portfolio companies, TFI International, TMX Group and Waste Connections.

Barry and Ernest discuss the large opportunities for Brookfield and Constellation, lessons they have learned from Charlie Munger - especially his speech "The Art of Stock Picking" and then a review of the pros and cons of Canadian Banks for 2024

http://www.grahamanddoddsville.net/wordpress/Files/Gurus/Charlie%20Munger/Charlie%20Munger%20_%20Art%20of%20Stock%20Picking.pdf

In this week's episode, Barry and Ernest discuss the Toronto Twelve. Twelve stocks on the TSX exchange that have compounded their shareholders returns by over 15% a year going back 10 years. They discuss what these companies have in common, what elements have made them so successful, why Canada has so many serial acquirers and the outlook for some of the twelve going forward.

Companies mentioned:

Constellation Software

Boyd Group

FirstService

Colliers