Long Term Investing - With Baskin Wealth Management Barry Schwartz

0:00: Introduction
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.