Each week, our team publishes a blog and webcast.
Rare is it to find a great business that simultaneously trades at an inexpensive valuation. Often, inexpensive stocks are cheap for a reason while high quality businesses accompany nosebleed valuations. We’re constructive on Brookfield Infrastructure Corporation (“BIPC”), a stock we purchased for suitable client portfolios at CAD$42.77/share last month. As its name suggests, BIPC has […]
The Dow Jones Industrial Average (“Dow”) hit 40,000 points last week. Had it not been for the media, I might not have noticed. A big and round number, however, makes for a good headline. Several ask if it’s a “sell signal” whenever an index hits a new all-time high. Our short answer is “no”. Not […]
Despite its benefits, artificial intelligence (“AI”) will accompany unintended consequences. On the plus side, efficiencies will be found, information will be more readily available, and productivity will be improved. On the other hand, jobs (and entire professions) will be eliminated, fraud will grow exponentially, and do we really want machines running our lives? Comedian Nate […]
“I’ve always wondered what you think about the Canadian economy,” asked a shareholder that traveled from Newmarket down to Omaha last weekend for the Berkshire Hathaway meeting with Warren Buffett. Buffett responded that while many of Canada’s companies aren’t large relative to those in the United States, “we’re actually looking at one thing now.” Is […]
Until now, 50% of all realized capital gains have been included when calculating your taxable income. That’s about to change. Starting on June 25, the inclusion rate on realized capital gains exceeding $250,000 will jump from 50% to 67% for an individual. Money made on your primary residence or within a registered account like an […]
Now trading 60% off its all-time high, Tesla shareholders have seen the value of their investment collapse by just about 35% so far this year. Normally, this is the exact kind of contrarian opportunity that we would flock to for our clients. We like buying stocks that are out of favour. This is because our […]
Always invest in the company, never in the person. Eyebrows were raised earlier this month when the Royal Bank of Canada published a late Friday press release saying: “RBC was recently made aware of allegations involving [the Chief Financial Officer] and immediately launched an internal review and engaged outside legal counsel to investigate. The investigation […]
Starting in June, Canada will move first to cut rates and the cost of borrowing will decline by more than the US in 2024. In addition to yesterday’s stronger than expected US inflation report, employment figures released last Friday in Canada and the US shed additional light on two very different realities. While the US […]
Is it just me or did the glory days of Apple seem to die with Steve Jobs? Apple’s iMac (1998), iPod (2001), iPhone (2007), and iPad (2010) were revolutionary products when first introduced. Each were unique, customer-friendly, and attached a superior graphical interface compared to the alternative devices at the time. Jobs died in October […]
While less dramatic than a corporate raider from the 1980’s waltzing into a shareholder meeting, proclaiming that “greed is good”, and hurling threats to sell an underperforming company for a quick profit, many activist investors work quietly to change companies. Activism is on the rise. In 2022, there were just about fifty activist campaigns in […]
