Long Term Investing - With Baskin Wealth Management

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...

0:00: Introduction 2.25: Our takeaways from the Berkshire Hathaway Annual Meeting 9:08: Berkshire’s Apple trim 14:01: Berkshire’s enormous cash pile 19:08: Is Berkshire looking at making a large investment in Canada? 23:15: Reviewing Berkshire Hathaway’s First quarter results. 26:10: Reviewing our Apple thesis 32:00: Apple’s recent struggles in China 35:20: Don’t sleep on Apple’s services business...

0:00: Introduction 1:42: Ernest’s talks about meeting Murray Edwards, Chairman of Canadian Natural Resources 5:05: Murray Edwards’ rant on Canada’s energy policy 7:26: TMX Pipeline expansion is in business; what it means for Canada. 12:22: Natural Gas’ role in electricity demand 14:15: Listening to Mitch Rales on Capital Allocation 19:53: Follow up on Waste Connections 23:38: Feature discussion on...

0:00: Introduction 3:25: Benjamin walks us through the new budget in Canada with respect to the upcoming capital gains changes. 5:43: Taking $250,000 of capital gains in one year is rare. 7:21: What to know about the new tax changes for death, selling an investment property or liquidity needs. 8:34: Capital gains taxation upon death and what actions one can take to limit the taxation impact. 12:04...

0:00: Introduction 1:37: discussion about capital gains changes in Canada and how it could affect your portfolio. 3:52: should you own a dividend payer stock vs. a growth stock given changes in capital gains rates in Canada 7:10: do these tax changes make Canada less competitive? 10:22: Feature discussion on Waste Connections 10:46: A quick discussion about the Halloween Surprise taxation of incom...

0:00: Introduction 0:56: Ernest’s discusses his debut on BNN Bloomberg 4:15: Why are there so few “super-investors”? 6:23: Canadian compounders trading at a discount to their U.S. peers and examples. 8:43: Why Canadian stocks are out of favour right now. 10:02: Example #1 - Couche-Tard 11:36: What do Hot Dogs and Compounders have in common? 12:40: Couche-Tard’s valuation discount 15:05: Example #2...

0:00: Introduction 1:27: Bare Trust Debacle 3:08: Why people set up joint accounts with family members 4:17: Explaining probate on non-registered accounts held jointly with family members 10:28: The pros and Cons of Formal and Informal Trusts and joint accounts with family members 13:53: Explaining formal trusts 15:48: Explaining Informal Trusts 19:10: Explaining “For” accounts 20:25: Which trust...

0:00: Introduction 1:48: Golf and Cialdini 2:42: Our take on the the DOJ suit against Apple 11:42: The Apple Bull and Bear thesis 17:50: Feature discussion on Alimentation Couche-Tard (ATD) 19:40: The beauty of convenience stores 22:22: ATD's Consolidation story 23:57: ATD's secret sauce to improving sales per square foot 27:22: The power of ATD's compounding 28:43: lack of volatility in gasoline...

0:00: Introduction 0:56: Charlie and Warren rubber duckies backstory 2:36: Bank of Canada interest rate announcement and why it is reluctant to lower interest rates. 7:47: why does this matter for long term investing? 10:08: why Baskin has as much as 70% of its clients equity exposure to the U.S. 15:50: rethinking dividend payers in a more normalized rate environment. 18:18: why Constellation Soft...

0:00: Intro 2:09: What to do in a bull market: 5:12: Berkshire Annual Letter 9:22: Reviewing Berkshire's under-performing assets 16:29: Letting your winners compound: 18:29: Why National Bank is outperforming: 21:44: The big picture for Canadian banks: 23:33: CNQ has reached its debt target - now what? 25:49: The math for CNQ This week's podcast touches a number of topics including a review of Ber...

0:00: Intro 0:50: Introducing Benjamin Klein 3:49: What is Financial Planning? 5:08: Should one get a CFA or CFP? 7:37: Does everyone need to do a financial plan? 13:12: The value of knowing your clients 15:22: Mistakes people make as they prepare for retirement 25:00: Building in a margin of safety into your financial plan 27:50: Not getting too conservative too soon 30:20: All about the First Ho...

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, th...

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 di...

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 abou...

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...

This week, Barry and Ernest dive deep into their research process and what they look for in buying a new company for their client's portfolio. If you love discussions about management, culture, capital allocation, valuation and quality factors then this is the episode for you!

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.

This is the final episode of 2023! Barry and Ernest review the crazy year that was 2023. We discuss why staying with market leaders is the right choice for us over the long-term. Also Ernest talks about his road trip to Michigan for the Domino's Pizza investor day as well as the CCL Industries investor day. Plus, Ernest, talks a lot about Netflix Best to all for the Holiday Season and we will see...

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:...

You don't want to miss this episode! Barry and Ernest start the show with a discussion about the current market rally and its implications. Then the feature discussion on the GOAT, Warren Buffett. We discuss Buffett's major bet on Apple, some of his mistakes, why you should trust his judgment, why he pared his financials to buy energy, why Buffett won't pay up for a fantastic business and we specu...

Continuing on where they last left off, Ernest and Barry, review quarterly earnings of client holdings including, Canadian Natural Resources, Tourmaline Oil, Apple, Ferrari, Live Nation and Restaurant Brands. But first, the guys discuss why indexing in Canada should be avoided.

Happy belated Halloween! Ernest and Barry start the podcast with a discussion about Candy as well as Ozempic. Then we do quick reviews of some of our client's holdings including: CoStar, Visa, CN Rail, TFI International, Netflix, Dominos, Google, Amazon and Microsoft.

In this week's episode, Barry and Ernest discuss the recent volatility in the market, the illusion of safety in private real estate investments and their feature conversation is about CoStar.