Long Term Investing - With Baskin Wealth Management

Market Turmoil + Restaurant Brands Update

bschwartz@baskinwealth.com (Barry Schwartz) — Mon, 30 Mar 2026 15:39:32 -0400

This week, Barry and Ernest discuss the Iran conflict and long-term investing through market volatility before updating Restaurant Brands "Whopper" of a turnaround plan.

0:00- Introduction

2:20- Live Nation settlement correction

4:52- Iran and market volatility

15:00- Portfolio management in volatility

19:20- Restaurant Brands update

Trust in Live Nation

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 17 Mar 2026 09:34:00 -0400

This week, Barry and Ernest discuss the oil price spike, Constellation Software's earnings, and Live Nation's antitrust settlement.

0:00- Introduction

1:25- Oil prices and Iran risks

6:36- Constellation Software's earnings

13:23- CSU's PEMS strategy

18:39- Live Nation's antitrust settlement

Netflix's $2.8b Money Heist

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 10 Mar 2026 07:42:54 -0400

This week, Barry and Ernest discuss Netflix dropping out of the bid for Warner Brothers Discovery, and what's next for Netflix. They also break down CCL Industries's capital allocation and M&A opportunities.

0:00- Intro

5:32- Netflix drops out of Warner bid

12:26- Netflix benefits from PSKY/WBD

18:15- How AI benefits Netflix

20:47- CCL Industries update

27:20- Greg Abel's letter

Moody's Solid Rating

bschwartz@baskinwealth.com (Barry Schwartz) — Wed, 25 Feb 2026 09:55:50 -0500

This week, Barry and Ernest discuss a wide range of topics including the strong performance of Canadian oil stocks, why proprietary data is safe from AI, and Constellation Software's decision to host an earnings call.

0:00- Introduction

1:49- Canadian oil stocks performance

9:03- Tourmaline Oil's buildout

12:40- TFI International's outlook

19:30- Portfolio management in a sell-off

23:15- Moody's vs S&P Global

31:25- TMX Group's risk from AI

33:08- Constellation Software earnings call

Charging to the Future

bschwartz@baskinwealth.com (Barry Schwartz) — Wed, 18 Feb 2026 15:04:39 -0500

This week, Barry and Ernest break down Alimentation Couche-Tard's strategy from their Investor Day as well as an update to Ferrari's EV strategy.

0:00- Intro

2:41 - How we are reacting to the sell-off

10:34 - Incentives with AI

14:30 - Alimentation Couche-Tard's IR Day

23:50 - EV experience in Norway

26:08 - Ferrari's earnings

Big Capex for the Big Techs

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 10 Feb 2026 08:03:51 -0500

Barry and Ernest are back and discuss Apple's strong results, Microsoft and Meta's mega-capex splurge, and Brookfield Asset management's new CEO Connor Teskey.

0:00- Intro

7:20- Apple's record iPhone sales

11:48- Apple's memory and chip constraints

16:35- Microsoft's Azure miss

20:10- Big tech returns on AI capex

22:01- Meta's motivations for AI

25:48- Brookfield Asset Management's new CEO

Chips and Streaming

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 27 Jan 2026 08:32:31 -0500

Barry and Ernest explain how narratives impact near-term stock movements, before reviewing earnings and the 2026 outlook for Taiwan Semiconductor Manufacturing Company and Netflix.

0:00- Intro

1:31- Stock price narratives

5:27- Constellation Software disruptive threats

14:15- TSM’s strong growth

18:47- Netflix update

Fed Turmoil and Credit Card Rate Caps

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 20 Jan 2026 08:24:17 -0500

In this week's episode, Barry and Ernest discuss the criminal investigation of Jerome Powell as well as the US proposal to cap credit card interest rates at 10%.

0:00- Introduction

1:53- Narratives driving stock prices

5:36- Jerome Powell criminal investigation

13:56- Credit card interest rate cap

Venezuela + Financials outlook

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 13 Jan 2026 08:30:59 -0500

Barry and Ernest are back in 2026! They break down the implications of Venezuela on the Canadian energy industry, before providing an update on several companies in the financial industry.

0:00- Introduction

2:16- How Venezuela impacts Canada

12:06- Why we own CNQ

14:39- Strong performance for financials

19:59- TMX Group update

21:24- Moody's update

27:40- MSCI update

30:40- Visa update

Looking back at 2025

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 30 Dec 2025 08:59:31 -0500

This episode, Barry and Ernest review 2025 including both highlights and lowlights for the markets

and the portfolio.

0:00 - Intro

4:06 - Lowlight 1: The Canadian Dollar

8:09 - Lowlight 2: Constellation Software

17:00 - Lowlight 3: Large M&A

21:50 - What’s nextfor AI

29:03 - Highlight 1: Google’s rebound

34:41- Baskin’s portfolio changes

39:39 - Strong fundamentals

Netflix's HBO drama

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 16 Dec 2025 09:00:00 -0500

This week, Barry and Ernest discuss Telus's high

dividend yield and Canadian dividend stocks, break down Netflix's motivations

for buying Warner Brothers Discovery, before wrapping up with an outlook for

the Canadian banks.

0:00- Intro

5:00- Telus's dividend trap

8:40- Attractive Canadian dividend payers

12:48- Netflix's bid for Warner Brothers Discovery

16:56- Poor track record of media mergers

21:08- Netflix's motivations for buying WBD

33:04- Canadian bank update

40:14- 2026 for the Canadian banks

42:35- AI opportunity for Canadian banks

Filling up on Couche-Tard

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 02 Dec 2025 18:29:36 -0500

This week, Barry and Ernest review results for Alimentation Couche-Tard and Copart before breaking down Netflix offer to purchase Warner Brothers Discovery.

0:00- Intro

8:33- Alimentation Couche-Tard's rebound

15:04- Canadian compounder buybacks

24:17- Copart's earnings

30:29- Copart's low-value car problem

36:42- How AVs impact Copart

39:00- Netflix's bid for Warner Brothers Discovery

Drilling Down on Canadian Energy

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 25 Nov 2025 15:37:48 -0500

This week, Barry and Ernest review quarterly results for some more names before providing an update on their two favorite Canadian energy names.

0:00- Intro

4:24- TransDigm outlook

10:16- Great capital allocators pivot

14:55- Garmin update

19:33- Brookfield update

24:51- Buffett's pitch for Berkshire stock

29:13- Why we own CNQ

36:43- Tourmaline's business model

39:43- Data center tailwinds for natural gas

42:29- Country-level risk for commodities

Reviewing Q3 earnings for Apple, Amazon and more

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 11 Nov 2025 14:51:40 -0500

This week, Barry and Ernest give an update on a number ofcompanies including Apple, Amazon.com, TFI International, and Live Nation.

0:00- Intro

15:08- Apple strong results

26:08- Amazon and AWS growth

33:52- TFI's 2026 rebound

40:26- Live Nation update

Sticking with stocks

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 04 Nov 2025 20:25:28 -0500

This week, Barry and Ernest discuss the underperformance of high-quality companies, provide an update on some companies in the financial sector and Big Techs, and defendpublic equities as an asset class.

0:00- Intro

7:38- Unprofitable company stocks

16:20- MSCI, TMX, and Moody’s update

24:15- Meta’s splurge on AI

33:40- Google and Microsoft’s earnings

39:58- Why we invest in stocks

We are sticking with compounders

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 28 Oct 2025 13:07:23 -0400

This week, Barry and Ernest break down Apple's stock price resurgence and review earnings from Netflix, TSMC, and Waste Connections before explaining if it still makes sense to own compounders.0:00- Intro4:40- Apple update11:54- Thoughts on smart glasses18:05- Netflix's earnings32:23- TSMC's results39:31- Waste Connection's earnings42:58- What is compounding? 48:48- Characteristics of compounders55:51- When to sell compounders?

Ferrari’s pit stop through 2030

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 21 Oct 2025 12:30:00 -0400

In the latest episode, Barry and Ernest provide an update onConstellation Software's management changes, earnings from Domino's Pizza and Costco, and Ferrari's strategy over the next 5 years.

0:00- Intro

6:25- Market update and deals between big techs

9:40- ConstellationSoftware's CEO succession

18:50- Domino's Pizza update

28:40- Costco update

32:16- Ferrari's investor update

Constellation's AI playbook

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 30 Sep 2025 20:23:54 -0400

This episode was recorded before the sad news that Mark Leonard had to step down as CEO of Constellation Software for health reasons. We wish him a full and speedy recovery.

This week, Barry and Ernest react to Constellation Software's conference call about the risks and opportunities of AI to their business. 0:00- Intro

4:34- Constellation's AI conference call

13:53- Geoffrey Hinton's radiologist prediction

14:58- AI concerns for Constellation

24:48- AI opportunities for Constellation

27:02- Constellation's decentralization

32:00- High hurdle rates for M&A

Getting carried away with Brookfield

bschwartz@baskinwealth.com (Barry Schwartz) — Wed, 24 Sep 2025 13:03:08 -0400

This week, Barry and Ernest provide an update onBrookfield after its annual investor day, before breaking down Adobe's earnings and business updates.

0:00- Intro

6:40- Brookfield annual investor days

9:38- BAM's AI strategy

17:27- BAM's retail opportunity

18:51- BAM carried interest

20:41- BN's insurance business

31:48- BN's real estate update

35:19- How BN's insurance growth benefits BAM

39:39- Adobe update

Searching a way out

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 16 Sep 2025 18:53:48 -0400

This week, Barry and Ernest break down Google's favorable antitrust remedies ruling and how it impacts Google, Apple, and perhaps surprisingly, Live Nation.

0:00- Intro

2:04- Google's antitrust risk

8:34- Favorable remedies ruling for Google

13:18- AI competition for Google Search

18:12- Apple benefitting from the ruling

25:00- Live Nation's antitrust issues

30:00- Live Nation's international growth

Why Long-Term Investing?

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 09 Sep 2025 13:15:57 -0400

This week, Barry and Ernest discuss the risks of alternativeinvestments and explain why long-term investing makes sense, before reviewing the current state of Canadian banks.

0:00- Intro

2:20- Are alternatives suitable for investors?

13:25- Cracks in the housing market impacting banks

15:55- What does long-term investing mean?

19:30- What a long-term investor should look for?

22:30- How incentives lead to short-term performance

26:35- Building conviction through research for the long-term

29:52- Incentives to sell "losers"

36:00- Update on Canadian banks

Defending Big Tech’s AI splurge

bschwartz@baskinwealth.com (Barry Schwartz) — Wed, 03 Sep 2025 18:45:55 -0400

Barry and Ernest are back from summer vacation and discuss why companies need to think locally in international markets, before breaking down how Big Techs can earn healthy returns on their massive capital spending on AI.

1:41- Ernest getting stuck in Europe

5:37- Importance of local operators

9:04- Couche-Tard’s failed Carrefour deal

14:50- Market update

21:24- Google’s strong performance

26:24- What’s the return for big tech capex?

33:20- Will AI displace traditional software?

36:25- How AI impacts Constellation Software

Adobe: Still a Creative Compounder

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 29 Jul 2025 14:44:36 -0400

0:00 – Introduction

5:06 – Tariffs removing regulatory scrutiny on Americantech

9:03 – Importance of culture for long-term performance

15:28 – Update on Adobe

27:58 – Netflix’s earnings

34:26 – Domino’s earnings

39:06 – MSCI’s earnings

Bye to Seven and I

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 22 Jul 2025 12:46:34 -0400

In this week’s podcast, Barry and Ernest react to Alimentation Couche-Tard announcing it will drop their bid for Seven and i, before discussing TSMC’s quarterly earnings.

Mid-Year Check-In + Breaking Down National Bank

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 15 Jul 2025 12:45:31 -0400

In this week's episode, Barry and Ernest review the first six months of 2025 deep dive into National Bank.

0:00 – Introduction

2:10 – A review of the first six months of 2025

8:22 – Good businesses outperform in volatility

13:00 – Notable performers in the first half

27:50 – Breaking down National Bank

49:03 – Disruptors for Canadian banks?

Alternatives to alternatives

bschwartz@baskinwealth.com (Barry Schwartz) — Wed, 02 Jul 2025 15:43:08 -0400

Barry and Ernest break down their views on investing in gold and “alternatives” and then discuss Alimentation Couche-Tard’s earnings.

0:00 – Introduction

1:40 – The Outsiders + capital allocation

5:33 – Why we don’t own gold

15:47 – The issue with “alternatives”

23:49 – Evaluating AI within non-tech businesses

31:13 – Alimentation Couche-Tard earnings

TSMC: The Strong Moat Compounder

bschwartz@baskinwealth.com (Barry Schwartz) — Wed, 25 Jun 2025 11:00:00 -0400

In this episode, Barry and Ernest discuss their framework for evaluating disruption before discussing a new addition to the portfolio.

0:00 – Introduction

1:29 – Our thoughts on disruption risk

3:35 – The Innovator’s Dilemma

12:43 – Venture capital investing vs public market investing

15:49 – Our new investment in TSMC

29:51 – Valuation, risks, and looking forward for TSMC

Checking out at Costco

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 17 Jun 2025 11:00:00 -0400

This week, Barry and Ernest discuss why people aredrinking less alcohol, talk about the importance of culture & incentives, and provide an update on Costco.

0:00 – Introduction

2:51 – The “Big Beautiful Bill”

7:51 – Shifts in consumer consumption behavior

14:38 – Importance of company culture andincentives

27:11 – Update on Costco

29:05 – Thoughts on Costco’s valuation

42:05 – Costco’s unique culture

43:08 – Next steps for Costco

Talking Investment Strategy + Taking your Questions!

bschwartz@baskinwealth.com (Barry Schwartz) — Wed, 11 Jun 2025 11:00:00 -0400

In this episode, Barry & Ernest dive into key lessons from the past five years of investing and share our latest thoughts on the market. We challenge the idea that complexity leads to better results, and explore why “buy and hold” is oftenharder than it sounds. We also discuss how strong management teams pivot effectively and what that means for long-term success. Plus, we open the mailbag to answer your questions!

0:00 – Introduction

3:58 – Complexity does not lead to better results

10:23 – Our current thoughts on the market

13:18 – Lessons learned over the last five years

19:54 – “Buy and Hold” as a strategy is easier said thandone

28:05 – Management ability to pivot

30:10 – Mailbag 1: Portfolio construction

36:56 – Mailbag 2: Why Waste Connections over other wastemanagement companies?

41:42 – Mailbag 3: Would Couche-Tard have been punished the same way if it were listed on the NYSE?

44:40 – Mailbag 4: Review of your biggest mistakes

Constellation Software's pivot

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 27 May 2025 17:32:46 -0400

This week, Barry and Ernest discuss ConstellationSoftware's annual meeting and the strategic changes being made to continuecompounding into the future, before ending with Brookfield's earnings.

0:00- Introduction

0:58 – Constellation Software Annual Meeting

9:20 – Constellation's compounding runway

20:22 – AI impacts to CSU's model

25:24 – CSU's new compensation structure

27:33 – The potential threat of CSU imitators

33:47 – Brookfield earnings

Not yielding for yield

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 27 May 2025 17:24:15 -0400

This week, Barry and Ernest discuss their preference forcompounders over dividend-paying stocks before providing an update on Alimentation Couche-Tard, Canadian Natural Resources, and Tourmaline Oil.

0:00 – Introduction

3:43 – Our view on a potential recession

14:43 – Why we prefer capital allocators over dividend payers

33:10 – Update on Alimentation Couche-Tard

40:51 – Update on CNQ, Tourmaline, and M&A in the O&Gspace

Lessons from the greatest investor of all time

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 13 May 2025 19:06:58 -0400

0:00– Introduction

2:43– How Buffett has influenced our investing journey

14:34– Our favorite Buffett investments

27:35– Berkshire under Greg Abel

40:58– Berkshire highlights and mistakes over the years

44:42– Mailbag: What if Buffett starts today?

49:55– Mailbag: Could Berkshire be broken up?

52:51– Mailbag: Berkshire's valuation today

The end of an era: With Warren Buffett's retirement, Barry and Ernest discuss lessons and highlights from his career and speculate how Berkshire might evolve under new CEO Greg Abel.

More Q1 earnings

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 06 May 2025 14:21:38 -0400

0:00 – Introduction3:02 – Stock market recovery and macro commentary11:28 – Visa earnings21:28 – Big tech earnings overview (Google, Meta, & Microsoft)23:02 – Google earnings31:20 – Meta earnings39:24 – Microsoft earnings41:50 – Garmin earnings45:14 – A note on owning growth-oriented companiesIn this week's episode, Barry and Ernest break down more Q1 earnings include the state of the consumer and promising results from Big Tech investments into AI

Talking Q1 earnings

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 29 Apr 2025 15:12:04 -0400

0:00 – Introduction3:09 – Q1 earnings season so far9:50 – Watsco earnings15:56 – TFI International earnings23:08 – Netflix earnings29:30 – Moody’s & MSCI earnings37:56 – Bad idea to focus on headlinesThis week, Barry and Ernest review first quarter earnings for Watsco, TFI International, Netflix, Moody’s, MSCI.

Tariffs and Market volatility - Part 2

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 22 Apr 2025 11:29:08 -0400

0:00 – Introduction3:25 – Companies responding to changing US tariffs 10:13 – Timing the markets in bad times19:52 – Quality companies are the best defence33:20 – How to protect your portfolio with a shorter time horizon40:52 – What we're looking for in Q1 earnings In this week's episode of the Long-Term Investing Podcast, Barry and Ernest provide more updates on tariffs as well as how best to position your portfolio in an uncertain time period.

Tariffs and the market volatility

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 15 Apr 2025 10:30:00 -0400

0:00 – Introduction

2:05 – Impact on tariffs on markets

5:20 – How companies respond to tariffs

11:58 – Service companies tend to be more protected from macroevents

14:05 – Uncertainty of investing in equities

16:45 – Importance of balance sheet health

21:25 – The risks of using margin

25:27 – How we define portfolio diversification

33:50 – Why we don't predict macro

35:53 – Finding high quality businesses during the market pullback

In this week's episode of the Long-Term Investing Podcast, Barry and Ernest discuss the market uncertainty relating to tariffs in the US and how Baskin Wealth is responding to the macroeconomic uncertainty.

CNQ's tar-rific 2024

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 01 Apr 2025 13:49:20 -0400

0:00 – Introduction1:43 – Market correction3:40 – Upcoming Canadian election7:10 – Canadian government energy policy 15:15 – Principles when investing in oil and gas stocks20:06 – Canadian Natural Resources 2024 26:40 – Long term demand for oil29:25 – Impact of US tariffs on Canadian crude 31:20 – Tourmaline Oil earningsThis week, Barry and Ernest first discuss how Baskin Wealth is navigating the upcoming Canadian federal election before reviewing 2024 results of Canadian Natural Resources and Tourmaline Oil.

Constellation's stellar year

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 25 Mar 2025 10:21:00 -0400

0:00 – Introduction1:44 – The rough 2025 for the US stock market6:00 - The current market vs other pullbacks12:37 – Constellation Software's earnings23:07 – Topicus.com's earnings and recent acquisitions26:14 – Can Constellation keep compounding? 28:49 – Is AI a risk for Constellation’s business modelIn this week's episode of the Long Term Investing Podcast, Barry and Ernest review Constellation Software and Topicus.com's 2024, and discuss whether it can grow at the same pace going forward as well as potential risks to their business model from AI.

Navigating Tariff Threats

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 11 Mar 2025 16:42:37 -0400

0:00 – Introduction2:05 – A detailed overview of tariffs9:45 – Thinking about tariffs as leverage to renegotiate USMCA17:15 – Tariffs impact on the stock market20:15 – Evaluating the impact of tariffs on individual companies27:30 – Reviewing Baskin’s portfolio and strategy to navigate tariffs39:05 – Dominos new stuffed crust This week, Barry and Ernest discuss the impact of tariffs on your portfolio. They discuss why and how long these tariffs could be in place and review Baskin Wealth’s strategy considering the current market uncertainty.

Compounding for 94 years

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 04 Mar 2025 16:06:44 -0500

0:00 – Introduction1:35 – Importance of investing for the long-term3:41 – Warren Buffett’s annual letter and succession planning at Berkshire19:15 – Update on ATD’s acquisition of 7-Eleven 27:04 – Exor selling Ferrari shares 30:03 – National Bank earnings35:14 – Domino’s Pizza earningsThis week, Barry and Ernest discuss Warren Buffett’s annual letter, then provide updates on Alimentation Couche-Tard’s acquisition of 7-Eleven as well as earnings for National Bank and Domino’s Pizza.

Good and Bad earnings recap and Brookfield Bonanza

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 25 Feb 2025 15:20:34 -0500

0:00: Introduction1:38: Trump and navigating uncertainty in the markets5:40 : How has retirement changed? 12:00: TFI International’s disaster quarter 23:01: Garmin earnings 26:12 : Watsco earnings30:15 : Moody’s earnings33:11: Feature discussion on Brookfield Corp. and Brookfield Asset Management In this week’s episode, Barry and Ernest discuss more Trump, TFI’s weak performance, and earnings for Garmin, Watsco, and Moody’s before talking about all things Brookfield.

'Spread'-ing risk in bonds

bschwartz@baskinwealth.com (Barry Schwartz) — Wed, 19 Feb 2025 11:30:00 -0500

In this week's Long-Term Investing Podcast, Barry and Ernest discuss their fixed income strategy with spreads at multi-decade highs, then discuss Q4 earnings for Amazon, TransDigm, and Restaurant Brands. 0:00 – Introduction1:56 – Aluminum and steel tariffs3:38 – Weakening Canadian dollar and the lack of quality businesses in Canada9:27 – Canadian vs US interest rates11:31 – Baskin bond portfolio discussion20:54 – Fourth quarter 2024 earnings season23:45 – Amazon earnings and its massive capex guidance33:29 – TransDigm earnings37:40 – Restaurant Brands earnings

Why we are not 'tariff-ied'

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 11 Feb 2025 12:00:00 -0500

0:00: Introduction1:20: More thoughts on Trump's tariffs6:40: Trump’s new tariffs on China11:40: Baskin’s long-term strategy resiliency to macro events15:10: Capex spend for big tech20:01: PE ratios in US indexes versus other countries25:30: TMX Group earningsWith Trump pulling back on its tariff threats for Canada, Barry and Ernest discuss why owning quality stocks is the best defense against geopolitical threats before discussing TMX Group's evolution.

Netflix’s next act + mailbag!

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 28 Jan 2025 13:50:15 -0500

This week, Barry and Ernest break down Netflix’s huge quarter and its initiatives in sports before doing another mailbag, answering questions about key learnings, US tariffs, and, believe it or not, something called Fartcoin.

0:00 – Introduction

2:10 – Reviewing buy & hold strategy

6:35 – Netflix’s record-breaking quarter

16:43 – Is there still value for Netflix shareholdersgoing forward?

17:39 – Mailbag!

17:51 – Key lessons from the last 5-10 years

22:23 – Should CEOs announce buyback plans?

25:48 – Should unoptimized companies trade at highermultiples?

29:34 – How do US tariffs impact the energy sector?

33:58 – Are young investors developing investing skillsby owning Fartcoins?

Predictions are hard and Ernest meets Mike Rose

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 21 Jan 2025 12:30:00 -0500

0:00 – Introduction 2:33 – The recent market pullback 5:28 – Goldman Sachs forecast for 3% market returns 8:50 – Issues in predicting long-term market performance 11:30 – The global scale of new tech companies 18:30 – Attending the ATB Conference 22:14 – The state of the Energy/Infrastructure market 29:09 – NFI and different perspectives on tariffs A jam packed show this week. Barry and Ernest start the podcast with a discussion about the recent market pullback and why Baskin Wealth is staying the course. Next, they discuss Goldman Sachs prediction about forward returns on the S&P 500. Then, Barry and Ernest talk the global impact of Big Techs. Then it is the feature discussion. Ernest talks about meeting Mike Rose, CEO of Tourmaline Oil as well as what he learned by attending an oil and gas conference in Toronto.

Take me to the Stars! An update on Constellation Software

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 14 Jan 2025 17:51:55 -0500

0:00 – Introduction 4:09 – Why invest in Canadian compounders? 9:55 – How we define a compounder 15:45 – Why Compounders deserve to trade at high prices 24:50 – How we are reacting to Trudeau's resignation 29:00 – Update on Constellation Software going into 2025 38:13 – Does AI impact Constellation? 42:28 – Books we read during the holiday After taking a much-needed holiday, Barry and Ernest are back this week with a jam-packed episode. The discussion starts with a definition of a “compounder” with them breaking down the characteristics they look for when buying an investment that will compound. Next, they talk about the resignation of Prime Minister Justin Trudeau and what that means for Canadian investors. Then, the featured conversation about Constellation Software where they talk about Constellation’s plans to increase growth, its capital allocation policy, and the pros and cons of AI on its business model. A great episode ... as usual!

Year-End Wrap

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 17 Dec 2024 11:30:00 -0500

0:00: Introduction 1:30: managing your emotions in the markets 3:03:Hard to learn lessons in a bull market 5:29: Silliness in the market today 7:45:Sticking to our circle of competence 9:40: Year-End Wrap Discussion 12:37: Surprising strength in the TSX in 2024 14:08: A strong year for the Canadian Banks 18:30: Reviewing portfolio changes in 2024 for our clients 20:48: Garmin’s big year 24:52: Being patient on purchases 28:11: Reviewing the underperformers 34:40: Today’s losers can be tomorrow’s winners 36:08: Reviewing our top performers 40:58: Thoughts for 2025 Barry and Ernest are back with our final podcast of 2024. Not to worry, they will be back weekly in 2025! This is our year-end wrap show. Barry and Ernest review the high-lights and low-lights of the Baskin Wealth portfolio. They discuss the most surprising names in the portfolio as well as giving their thoughts on what might happen in 2025. Thank you very much for watching and listening and we wish you and your family a happy and healthy 2025.

Getting Back into Meta + Your Questions

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 10 Dec 2024 14:23:30 -0500

0:00 Introduction 2:54 Market Bubble? 8:26 Getting Back into Meta 12:45 Thesis for Meta 13:31 Successful Pivots of Meta over the Years 16:15 What Makes Meta’s Social Media Apps Different? 17:53 AI Opportunity for Meta 24:56 Reality Labs of Meta as a Risk Factor 26:43 What Have We Changed Our Mind About Recently? 33:41 Small to Medium Caps in Baskin’s Strategy 37:59 Companies We Liked but Didn’t Invest In 43:32 How Do We Manage Currency Fluctuations for Our Clients This week, Barry and Ernest, review Baskin Wealth’s decision to buy back shares of Meta. They give an overview of the risks and opportunities for the company with a thoughtful conversation about Meta’s business pivots over the years, its AI goals and what is going on with Reality Labs. Then the show is all about you. Barry and Ernest answer several questions from the mailbag including a discussion on stocks they regret not buying and how Baskin Wealth manages currency fluctuations.

More on Tariffs, Google, Couche-Tard and Copart

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 03 Dec 2024 15:54:39 -0500

0:00 Intro 1:54 Trump’s tariff threats + challenges 9:34 How Tim Cook managed Trump’s first term 13:37 Have markets peaked? 15:29 Google’s challenges from antitrust and AI 26:25 Alimentation Couche-Tard’s earnings + update on 7 Eleven 35:02 Copart earnings and long-term drivers 42:34 Why does Copart have so much cash? This week, Barry and Ernest cover the Tariff concerns in depth. They review the risks to the Canadian and U.S. economies and discuss the types of companies that could be hurt the most. Next, they discuss the proposed remedies by the DOJ in its anti-trust lawsuit against Google. Moving on, Barry and Ernest provide an update on Couche-Tard’s bid for 7 Eleven and a review of its recent earnings release. The feature discussion is on the risks and opportunities for Copart.

Tracking Berkshire's Portfolio + Your Questions!

bschwartz@baskinwealth.com (Barry Schwartz) — Wed, 27 Nov 2024 17:12:00 -0500

0:00 Introduction 1:14 The Tyson/Paul event on Netflix 5:57 What Trump means for your portfolio? 14:18 Tracking Berkshire Hathaway's portfolio 25:09 Live Nation's blowout demand 34:49 Mailbag- Managing risk in the portfolio 38:20 Mailbag- Constellation spinoffs 41:11 Mailbag- Brookfield Wealth solutions 43:47 Mailbag- Position sizing A busy show this week. First, Barry and Ernest discuss the Mike Tyson/Jake Paul fight on Netflix and what it means for investors. Next, they talk more about Trump 2.0 and what moves you should or shouldn’t make for your portfolio. Then, they review Berkshire’s recent purchase of Domino’s Pizza and the motivations behind the investment. Moving on to Live Nation, Barry and Ernest discuss the strong results for the concert giant. And then it the podcast is all about you! Barry and Ernest introduce a new mailbag feature and answer several viewer questions from X. Don’t miss this episode.

Taking a position in TransDigm

bschwartz@baskinwealth.com (Barry Schwartz) — Mon, 18 Nov 2024 16:22:30 -0500

0:00 Introduction

2:08 What Does Trump’s Victory Mean for the Markets?

10:30 Breaking Down the Broader Economic Environment

16:30 Ultimate Long-Term Focus: Constellation Software

22:50 Similarities Between TransDigm and Constellation Software

24:20 Power Relationship Between TransDigm and OEMs

31:55 Fundamentals of TransDigm

37:15 How Will TransDigm Continue to Grow?

Barry and Ernest deliver a packed show this week. With Donald Trump winning the 2024 Presidential Election, Barry and Ernest, provide their thoughts on what it might mean for your portfolio. They then give an overview of the current economic environment and the reasons why, they believe, stocks are hitting all time highs. Next, they discuss Constellation Software's earnings release which ties into the feature discussion - Baskin Wealth Management’s recent purchase of TransDigm for its clients. Here, they review the similarities between the two companies and lay out their investment thesis on TransDigm.

Catching up on Apple, Berkshire and Garmin

bschwartz@baskinwealth.com (Barry Schwartz) — Mon, 11 Nov 2024 13:37:00 -0500

0:00 Introduction 2:10 Bell Canada’s Acquisition of Ziply: Does It Make Sense? 7:04 Balance Between Shareholder Expectations and Corporate Policy for Bell Canada 10:35 Breaking Down Apple’s Growth Runaway 14:52 How Is Apple Spending Much Less on AI Than Others? 18:56 Large Capex Levels for Big AI Names 26:15 Understanding Berkshire’s Earnings 33:40 Garmin’s Stunning Quarterly Results 38:05 Potential Benefits of Garmin’s Lumishore Acquisition In this week's episode, Barry and Ernest cover Apple, Berkshire, Big Techs and Garmin’s recent results. Barry and Ernest, first discuss BCE’s recent acquisition foray into the U.S. and give their take on BCE’s capital allocation policy. Then they move on to review Apple’s and Berkshire’s latest results and discuss the impact of Big Tech spending on capital expenditures. The final discussion focuses on Garmin, whose stock surged over 20% following the release of its Q3 earnings. Barry and Ernest break down what you need to know about Garmin’s evolving business.

Quality Investing for the Long Run - Webinar replay

bschwartz@baskinwealth.com (Barry Schwartz) — Mon, 04 Nov 2024 13:26:00 -0500

On Tuesday October 29th, 2024 seasoned investors Barry Schwartz and Ernest Wong hosted an exclusive webinar, Quality Investing for the Long Run. Discussing timeless strategies to build wealth and secure your financial future, even in a volatile market. Whether you're a beginner or an experienced investor, you'll gain actionable insights into long-term investment planning, portfolio management, and how to stay the course in an ever-changing financial landscape. Don’t miss out on this opportunity to learn from two experts who have navigated the ups and downs of the market for years.

Thinking about elections and earnings

bschwartz@baskinwealth.com (Barry Schwartz) — Wed, 30 Oct 2024 10:59:00 -0400

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.

Stocks at all-time highs and thoughts on AI and Pizza

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 22 Oct 2024 11:45:00 -0400

0:00 Introduction 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/

Canadian Natural Resources: A Wall of Free Cash Flow is on the way

bschwartz@baskinwealth.com (Barry Schwartz) — Wed, 16 Oct 2024 12:45:00 -0400

0:00- Introduction 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/

Riches in Niches: Diving deep into Garmin

bschwartz@baskinwealth.com (Barry Schwartz) — Wed, 02 Oct 2024 12:29:00 -0400

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.

Ferrari's pole position

bschwartz@baskinwealth.com (Barry Schwartz) — Wed, 25 Sep 2024 12:40:00 -0400

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.

Building to the top: Bullish on Brookfield

bschwartz@baskinwealth.com (Barry Schwartz) — Wed, 18 Sep 2024 13:27:00 -0400

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

Finding Quality in Canadian Banks

bschwartz@baskinwealth.com (Barry Schwartz) — Wed, 11 Sep 2024 12:32:00 -0400

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.

Frosters meet Slurpies: Breaking down Couche-Tard's bid for 7-Eleven

bschwartz@baskinwealth.com (Barry Schwartz) — Wed, 04 Sep 2024 15:15:00 -0400

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.

Review of the first six months of 2024 for the Baskin Wealth Portfolio

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 23 Jul 2024 19:01:00 -0400

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!

Generating Interest for Fixed Income

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 16 Jul 2024 14:35:00 -0400

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.

Alimentation Couche-Tard's Q2 pit stop

bschwartz@baskinwealth.com (Barry Schwartz) — Fri, 05 Jul 2024 13:38:00 -0400

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.

Going West for Growth: A Breakdown of National Bank’s Alberta acquisition.

bschwartz@baskinwealth.com (Barry Schwartz) — Fri, 28 Jun 2024 12:45:00 -0400

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.

June Financial Planning Edition- Everything you wanted to know about TFSA's

bschwartz@baskinwealth.com (Barry Schwartz) — Mon, 17 Jun 2024 14:27:00 -0400

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.

Why we finally put a ring on MSCI.

bschwartz@baskinwealth.com (Barry Schwartz) — Mon, 10 Jun 2024 11:27:00 -0400

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.

Constellation Software: Revealing itself one star at a time

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 21 May 2024 17:24:00 -0400

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 boost organic growth. 13:45: Why Constellation has limited worries about copycats. 19:11: reviewing Constellation’s carve-out strategy. 21:04: strategies to boost deal activity. 22:52: Constellation open to issuing stock for large deals? 29:23: more spin-offs on the way? 32:21: Mark Leonard on selling some of his shares. 34:32: How will AI affect Constellation? 36:41: Will Constellation deliver good returns to shareholders going forward? This week we have a treat for Constellation Software fans! Barry and Ernest review the Constellation Software annual meeting and do a deep dive on the company. The guys discuss Constellation’s capital allocation, organic growth, competition, spin-off, carve-outs, copycats, AI and future catalysts.

Buffett takes a bite out of Apple: A review of the Berkshire Hathaway 2024 Meeting

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 14 May 2024 11:46:00 -0400

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. 36:56: Apple’s insane share buyback program 38:22: Apple’s under-appreciated capital light story. 40:38: Apple Vision Pro a Con? 42:32: Update on Live Nation If you are a fan of two of the largest companies in the world, then you don’t want to miss this episode. Barry and Ernest, review the highlights of the Berkshire Hathaway 2024 annual meeting. Why did Buffett trim Apple? What is Berkshire going to do with all that cash? What could Buffett buy in Canada? Tune in to find out! Plus, Barry and Ernest discuss Baskin Wealth’s investment thesis on Apple and why they feel many parts of the business are under-appreciated

Love that Turnaround at Restaurant Brands

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 07 May 2024 11:45:00 -0400

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 Restaurant Brands 31:19: The genius of Patrick Doyle This week’s episode has it all, a meeting with Murray Edwards, a discussion about Canadian Energy and the TMX pipeline, listening to Mitch Rales on capital allocation and culture, a review of Waste Connections recent earnings results and then a feature discussion on Restaurant Brands.

Special Financial Planning Episode on Capital Gains

bschwartz@baskinwealth.com (Barry Schwartz) — Mon, 29 Apr 2024 17:44:00 -0400

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: For most of us, the best advice is to do nothing. 14:38: What can you do about cottages and investment properties? 16:30: Should you take capital gains if you have meaningful short-term liquidity requirements? 18:34: Trusts and Corporation discussion. 22:40: Summary of the actions you can take. 24:00: changes to the lifetime capital gains exemption for owners of small businesses. 26:12: Listening to Warren Buffett on capital gains. A big show this week. Benjamin Klein, CFP, joins Barry to discuss the new budget in Canada. Barry and Benjamin explain the relevant capital gains taxation changes, what it means for your portfolio and your estate and what actions (if any) one should take before the June 25th deadline. https://baskinwealth.com/blog/fun-with-numbers-should-you-realize-capital-gains-and-pay-taxes-early-2/

Trash is Cash: Waste Connections

bschwartz@baskinwealth.com (Barry Schwartz) — Mon, 22 Apr 2024 17:49:00 -0400

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 income trusts in Canada 14:00: a history of Baskin’s purchase of BFI Garbage Trust which eventually became Waste Connections 14:35: Waste Connections and waste business overview 21:50: Waste Connections’ secret sauce 23:23: Servant Leadership Culture at Waste Connections 29:55: Future catalysts for the stock 31:25: RNG potential upside for Waste Connections 33:52: Robotics and AI use in the Waste industry 35:40: Risks to consider when investing in Waste Connections In our opinion, successful long-term investments are found in companies that focus exclusively on culture. Waste Connections fits this bill. Under the tutelage of its founder, Ronald Mittelstaedt, Waste Connections has collected a compounder status by turning trash into cash with its unique Servant Leadership model. Barry and Ernest discuss Baskin's history of owning Waste Connections as well potential rewards and risks they see going forward. If you love compouders, you will love this episode!

The Canadian Compounder discount

bschwartz@baskinwealth.com (Barry Schwartz) — Mon, 15 Apr 2024 17:10:00 -0400

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 – CCL Industries 16:40: Example of a Canadian Compounder trading at premium. 18:56: Example #3 – Canadian Natural Resources 21:43: Example #4- TFI Industries 23:16: Still prefer U.S. business and a discussion on Costco. 26:50: Amazon’s years of investments finally paying off. Great discussion this week about Canadian Compounders that trade at a discount to their U.S. peers. Barry and Ernest give four examples of companies owned by Baskin Wealth Management clients that are valued at a discount and the reasons why. Barry and Ernest discuss why Canadian stocks are currently out of favour and then finish off the episode with comments on Costco and Amazon. check out Ernest's debut on BNN Bloomberg: https://baskinwealth.com/media-appearances/ernest-wong-on-bnn-we-remain-underweight-on-canadian-stocks/

April Financial Planning Edition - All about Trusts

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 09 Apr 2024 14:29:00 -0400

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 makes sense for you? 21:30: Real example of an informal trust account becoming a joint account with parents 22:22: What happens to the informal trust account when your child turns 18 24:32: What Grandparents/Aunt’s/Uncle’s should know when gifting money to minor family members. Benjamin Klein, Senior Portfolio Manager and CFP, joins Barry for our monthly financial planning podcast. Benjamin and Barry have a fascinating discussion all about trusts and joint accounts with family members. If you are curious about how they work, the pros and cons of each, and the differences between a formal and informal trust, then this episode will be enlightening.

Compounding is afoot at the Circle K

bschwartz@baskinwealth.com (Barry Schwartz) — Mon, 01 Apr 2024 18:01:00 -0400

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 pricing hurting recent results 30:50: why fuel margins could stay higher for longer 34:15: Electric vehicles are risks and rewards 41:22: Potential risks to the ATD story 42:50: Insider alignment, valuation and potential U.S. listing? Alimentation Couche-Tard (ATD) is one of the best performing Canadian equities for over 30 years. Ernest and Barry discuss the pros, cons and the reasons why we finally purchased this investment for clients. We also talk about Apple's recent woes and reasons to stay optimistic.

Tourmaline Oil - It's a gas, gas, gas.

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 19 Mar 2024 14:26:00 -0400

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 Software and Couche-Tard aren’t listed on the US stock exchange 21:15: All about Mike Rose and Tourmaline Oil 27:20: Tourmaline sticks to its circle of competence 28:36: Tourmaline’s natural gas strategy

32:20: reasons to be bullish on Canadian Nat gas 36:18: What is Mike Rose doing with his own money? 36:51: Tourmaline’s capital allocation strategy 40:15: keep an open mind to own a commodity business 41:30: comparing Tourmaline to the Magnificent 7.

This week's episode has Barry and Ernest discussing interest rates, why Baskin Wealth favours U.S. equities, why Alimentation Couche-Tard and Constellation Software are only listed on the Canadian exchange and then our feature discussion on Tourmaline Oil. Mike Rose, founder of Tourmaline, is one of Canada's greatest capital allocators. We learn all about his strategy and reasons to be bullish on Natural Gas.

Buffett, National Bank and Royal way to value CNQ

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 12 Mar 2024 11:43:00 -0400

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 Berkshire Hathaway's recent shareholder letter. Barry and Ernest discuss Buffet's dissatisfaction with Berkshire's railroad and utility asset. Next, they have a conversation about the Canadian Bank results and what Bank CEO's are saying about the Canadian economy. And the feature discussion is about Canadian Natural Resources (CNQ). Barry and Ernest give investors food for thought on how to value CNQ differently.

Financial Planning Edition with Benjamin Klein

bschwartz@baskinwealth.com (Barry Schwartz) — Mon, 04 Mar 2024 17:16:00 -0500

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 Home Savings Account

36:30: If I can do only one contribution - RSP/TFSA/FHSA - which one should I do?

We are introducing a new regular feature to the podcast, the Financial Planning edition with, Benjamin Klein, CFA, CFP and Senior Portfolio Manager at Baskin Wealth Management.

Benjamin joins Barry to discuss topics like, What is Financial Planning, Does everyone need a Financial Plan? Mistakes people make as the prepare for retirement. Then the feature discussion is about the First Home Savings Account. We plan on dropping a financial planning podcast once a month so please let us know your feedback and questions!

Sitting on Topicus of the World

bschwartz@baskinwealth.com (Barry Schwartz) — Mon, 26 Feb 2024 17:43:00 -0500

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.

Lessons from David Baskin

bschwartz@baskinwealth.com (Barry Schwartz) — Fri, 16 Feb 2024 19:18:09 -0500

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.

Stryker: Hips, Shoulders, Knees and Toes

bschwartz@baskinwealth.com (Barry Schwartz) — Mon, 05 Feb 2024 20:50:00 -0500

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.

Netflix: Laying the Smackdown on its competition

bschwartz@baskinwealth.com (Barry Schwartz) — Mon, 29 Jan 2024 19:53:00 -0500

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.

10 Trillion things we love about Blackrock

bschwartz@baskinwealth.com (Barry Schwartz) — Mon, 22 Jan 2024 19:58:00 -0500

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.

A Deep dive into our research process

bschwartz@baskinwealth.com (Barry Schwartz) — Mon, 15 Jan 2024 15:03:00 -0500

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!

Deals, Deals, Deals

bschwartz@baskinwealth.com (Barry Schwartz) — Mon, 08 Jan 2024 17:25:00 -0500

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.

A review of the highlights and lowlights of 2023

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 19 Dec 2023 19:16:00 -0500

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 you back here in 2024!

Constellation, Brookfield, Canadian Banks and Lessons Learned from Charlie Munger

bschwartz@baskinwealth.com (Barry Schwartz) — Mon, 04 Dec 2023 14:46:00 -0500

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

The Toronto Twelve

bschwartz@baskinwealth.com (Barry Schwartz) — Mon, 27 Nov 2023 13:47:00 -0500

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 Descartes Dollarama Tfi International Alimentation Couche-Tard Waste Connections Toromont Thomson Reuters ATS Corporation

FirstService

Colliers

Warren Buffett - The Investor

bschwartz@baskinwealth.com (Barry Schwartz) — Mon, 20 Nov 2023 13:46:00 -0500

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 speculate about his new "mystery" stock.

Rapid fire review of Baskin Wealth holdings Part 2

bschwartz@baskinwealth.com (Barry Schwartz) — Sun, 12 Nov 2023 19:45:00 -0500

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.

Rapid fire review of some Baskin Wealth holdings

bschwartz@baskinwealth.com (Barry Schwartz) — Wed, 01 Nov 2023 17:52:00 -0400

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.

CoStar a Star Compounder

bschwartz@baskinwealth.com (Barry Schwartz) — Mon, 23 Oct 2023 12:29:00 -0400

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.

What to do when a stock doesn't work

bschwartz@baskinwealth.com (Barry Schwartz) — Thu, 12 Oct 2023 11:47:00 -0400

Great episode today! Ernest and Barry discuss Baskin's strategy for fixed income. Then they discuss what to do when you own a stock that is going nowhere. This leads to the feature discussion on Vail Resorts. Vail's stock has been flat for years but its fundamentals are improving...

check out Ernest's Blog https://baskinwealth.com/an-ernest-opinion/what-to-do-when-a-stock-doesnt-work/

A September to not Remember. Plus more on Costco

bschwartz@baskinwealth.com (Barry Schwartz) — Mon, 02 Oct 2023 12:59:00 -0400

September was a tough month for the markets, but not to fear, pullbacks are a feature of investing. Ernest and Barry breakdown the month that was. They also review why buying stocks only with a low price earnings ratio can be dangerous to your returns. Finally, the feature conversation is about Costco. Ernest and Barry review its latest quarterly earnings and give an outlook for its future.

Reviewing the Brookfield Investor Day

bschwartz@baskinwealth.com (Barry Schwartz) — Thu, 21 Sep 2023 13:39:00 -0400

We have a jam packed show today! Ernest and Barry discuss inflation and what it means for your portfolio. The guys talk about weird Constellation Software rights offering and what options one has. Then they review earnings from Copart and Adobe. And then the feature conversation is a review of the investor days for both Brookfield Corporation and Brookfield Asset Management.

Are Energy companies the new dividend kings?

bschwartz@baskinwealth.com (Barry Schwartz) — Thu, 14 Sep 2023 11:44:00 -0400

If you like dividends, you will love this episode! Barry and Ernest discuss the rationale of owning Canadian Energy stocks for income. We also give an overview of the Canadian telco industry and review whether the dividends of the big three are sustainable.

These are the pros and cons of Canadian Banks

bschwartz@baskinwealth.com (Barry Schwartz) — Wed, 06 Sep 2023 17:47:00 -0400

Packed show today with a great discussion of "Higher for Longer" and what it means for your portfolio, a quick review of our Copart thesis and then our feature discussion on the Canadian Banks. We review the risks facing the Canadian Banks given higher interest rates and the impact on the Canadian consumer in the short and medium term. Finally, we discuss the long term bullish outlook for Canadian Banks and the reason why prefer National Bank.

https://cccis.com/news-and-insights/insights/what-is-vehicle-complexity-really-costing-us/?utm_source=Newsletter&utm_medium=Email&utm_campaign=CCC+Trends+September+2023&utm_term=Trends+Newsletter+September+2023

Amazon's outlook isn't Cloudy

bschwartz@baskinwealth.com (Barry Schwartz) — Mon, 21 Aug 2023 14:07:00 -0400

We are back with a great conversation about Amazon. The everything store and cloud giant is firing on all cylinders. Has new CEO, Andy Jassy, finally set Amazon up for sustainable profits going forward? Tune in and find out...

Apple

bschwartz@baskinwealth.com (Barry Schwartz) — Fri, 11 Aug 2023 19:20:00 -0400

Back from vacation with our best podcast ever. Ernest and I discuss why we love companies that have the owner operator mindset and make themselves invincible on the balance sheet. Then we discuss our feature company, the profit machine called Apple. We talk about the current criticisms of the company and why we feel the best days stay lie ahead. Check it out!

Fewer Decisions and Updates on TFI, Constellation Software and Netflix

bschwartz@baskinwealth.com (Barry Schwartz) — Tue, 25 Jul 2023 13:13:00 -0400

In this week's episode, Barry and Ernest discuss disruptions in the trucking industry, Constellation Software's big deal, and react to Netflix's earnings.

The Magnificent Seven

bschwartz@baskinwealth.com (Barry Schwartz) — Fri, 14 Jul 2023 14:03:00 -0400

This week's episode is a grab-bag of random topics. Ernest and I touch on the Magnificent Seven (the seven mega-techs that are driving the current rally), Domino's partnership with Uber, the FTC case against and Activision and Microsoft and the implications for Adobe, risks in the Canadian grocery sector and why we don't buy fashion businesses. Check it out!

What we are looking for in a High Quality Investment

bschwartz@baskinwealth.com (Barry Schwartz) — Fri, 23 Jun 2023 20:03:00 -0400

Join us for another great episode! Today we talk about the under-performance of the TSX year to date, the volatility of a stock's performance in any one year, dividend stocks vs. interest rates and why we don't buy alts for our clients. Our feature conversation is our research process to find High Quality Investments. Ernest dives deep into our strategy - to own a carefully selected portfolio of well run companies and hold them forever. Dontcha dare miss it!

FirstService - A Canadian Compounder with a long runway of growth.

bschwartz@baskinwealth.com (Barry Schwartz) — Mon, 12 Jun 2023 16:55:00 -0400

This week’s episode discusses Netflix’s initial success in cracking down on password sharing, followed by a rare macro forecast from Ernest, and then finally our feature company: a “boring” property management/renovations company that has delivered anything but boring returns.

https://www.antenna.live/post/a-first-look-at-the-impact-of-netflixs-password-sharing-crackdown

https://www.desjardins.com/on/en/savings-investment/economic-studies/canada-mortgage-debt-may-25-2023.html

Label me a Compounder! CCL Industries a company you may not know but should...

bschwartz@baskinwealth.com (Barry Schwartz) — Fri, 26 May 2023 18:43:00 -0400

Ernest and I, kick off this episode with a discussion about AI and Nvidia as well as stock price volatility, then we move on to talk about the opportunity in Brookfield Corporation. Next we discuss the lacklustre results of the Canadian Banks and then it is our feature discussion...CCL Industries. CCL is the largest label maker in the world and is one of the greatest capital allocators in North America (that you may never heard of).

Check out Ernest's blogs on Brookfield and CCL Industries to find out more:

https://baskinwealth.com/an-ernest-opinion/a-compounder-thesis-for-brookfield-corporation/

https://baskinwealth.com/blog/great-capital-allocation-makes-a-great-company-ccl-industries/

Get the door. It's Domino's

bschwartz@baskinwealth.com (Barry Schwartz) — Fri, 12 May 2023 18:07:00 -0400

This podcast delivers in just over 30 minutes a hot, tasty and fresh take on Domino's Pizza. Domino's stock soared during 2020/2021 but has pulled back significantly on pizza fatigue. We think the long-term growth thesis is unchanged and we look for brighter days ahead as shareholders. Check it out!

Going on the Canadian Rails

bschwartz@baskinwealth.com (Barry Schwartz) — Mon, 01 May 2023 20:48:00 -0400

All aboard! Grab your ticket, sit back and enjoy the relaxing ride as you learn all about the Canadian Railroads: Canadian National Railway and Canadian Pacific Railway.

Canadian Railroads are such great businesses. The growing population, the geography, the resources - perfect set up for years of growth.

Banking on Canadian Banks

bschwartz@baskinwealth.com (Barry Schwartz) — Mon, 17 Apr 2023 19:14:00 -0400

This week we have a very special guest....David Baskin, Chairman, Founder and Portfolio Manager at Baskin Wealth Management. In our opening discussion, David explains why inflation expectations matter more than the current inflation number and gives his take on the Federal Reserve and Jay Powell. Then David discusses what happened to one of Canada's premiere money managers, Gluskin Sheff. Finally, David tells us why he is still bullish on Canadian Banks given the recent negative headlines.

https://baskinwealth.com/latest-news/monthly-newsletter-march-2023/

Everybody's going to Costco!

bschwartz@baskinwealth.com (Barry Schwartz) — Sun, 09 Apr 2023 17:26:00 -0400

Costco's stores are so busy that no one goes there anymore, just kidding! Costco store traffic continues to be very strong, Costco's balance sheet is in great shape and many expect a special dividend and membership fee hike shortly. In the meantime, Costco continues to open stores at a measured pace around the globe. Ernest and I profess our love for Costco and give our thesis why you should pay up for this great business.

https://baskinwealth.com/an-ernest-opinion/costcos-true-moat/

https://baskinwealth.com/an-ernest-opinion/costcos-e-commerce-opportunity/

I Wanna Rock and Roll All Nite and Invest in Live Nation Every Day

bschwartz@baskinwealth.com (Barry Schwartz) — Mon, 27 Mar 2023 15:31:00 -0400

Ernest and I tackle a controversial investment, Live Nation. We start the podcast by discussing why we still see value in "Big Tech". Then we move on to our feature company, Live Nation. We discuss why artists need to tour to make money, the rationale behind the Live Nation and Ticketmaster merger and why Live Nation will thrive going forward. A great episode, check it out!

Wait a minute? You bought an Oil Stock?

bschwartz@baskinwealth.com (Barry Schwartz) — Thu, 09 Mar 2023 20:07:00 -0500

In this week’s episode, Barry & Ernest discuss the prospects for the Canadian energy sector and our recent investment in Canadian Natural Resources.

https://baskinwealth.com/blog/why-we-are-buying-an-oil-company/

Learn more about Google's moat here : https://www.justice.gov/opa/press-release/file/1563746/download

Sometimes the light's all shinin' on TFI International

bschwartz@baskinwealth.com (Barry Schwartz) — Fri, 24 Feb 2023 16:39:00 -0500

Alain Bedard has built a trucking giant in TFI International. Come learn about one of the best capital allocators in Canada.

Everything you ever wanted to know about Factor Investing and Netflix

bschwartz@baskinwealth.com (Barry Schwartz) — Fri, 27 Jan 2023 19:38:00 -0500

Happy Friday! We are back with another episode of the Long Term Investing Podcast. In today's episode, Ernest and I, talk about Factor Investing and have a feature discussion about Netflix. The stock market rally in 2023 has caught everyone off guard, we review what's working and what's not and what companies are saying about a possible downturn to come. We also do our best to describe what a Factor is and how important Factors are to portfolio management. Finally, we spend some quality time with Netflix. Its stock has doubled since last June, is there more to come? We sure hope so and more!

Chatting about ChatGPT and making sense of Brookfield

bschwartz@baskinwealth.com (Barry Schwartz) — Fri, 13 Jan 2023 16:53:00 -0500

Welcome back to the podcast! A new year brings us the first Long Term Investing Podcast of 2023. Please join us as we talk about ChatGPT and it's possible implications on Google. Plus, Ernest and I, go in depth on the Brookfield Asset Management Spin-off.

What do Constellation Software and Restaurant Brands have in common?

bschwartz@baskinwealth.com (Barry Schwartz) — Fri, 09 Dec 2022 16:24:00 -0500

Happy Friday! You'll love this episode as Ernest and I talk about Mark Leonard, Constellation Software, as well as Restaurant Brands. We talk Mark Leonard's beard, Ernest learns a yiddish word, and why we think the Constellation growth strategy is far from over. Then we talk Restaurant Brands. We review Patrick Doyle's stellar track record at Domino's Pizza and why we think he can recreate the magic at Restaurant Brands.

Opportunities in Canadian Real Estate Investment Trusts

bschwartz@baskinwealth.com (Barry Schwartz) — Fri, 25 Nov 2022 15:56:00 -0500

Canadian Real Estate Investment Trusts have had a tough year on the back of rising interest rates and worries about inflation and a possible recession. Ernest and I review the current landscape and discuss the opportunities and risks with Canadian REIT's. An interesting discussion as always! Please enjoy

Talking Big Tech and Buffett

bschwartz@baskinwealth.com (Barry Schwartz) — Thu, 10 Nov 2022 21:48:00 -0500

I'm joined today by Ernest Wong, Head of Research at Baskin Wealth Management. Ernest and I discuss his recent blog on big tech https://baskinwealth.com/an-ernest-opinion/the-bottom-line-for-big-tech/ as well we talk about the GOAT, Warren Buffett. A fun show as always!

Our definition of Long Term Investing

bschwartz@baskinwealth.com (Barry Schwartz) — Thu, 20 Oct 2022 20:43:00 -0400

In today's episode, I'm joined by Ernest Wong @ernestwongbwm, Head of Research at Baskin Wealth Management. Ernest and I discuss interest rates, give examples of our long term investing approach, discuss Ernest's blog on our site, https://baskinwealth.com/an-ernest-opinion/creating-value-in-volatile-markets/ , and give examples of companies that we believe will do well in a downturn. Including Ferrari, Domino's Pizza, CoStar, Copart and Costco.

Our thoughts on the current market volatility

bschwartz@baskinwealth.com (Barry Schwartz) — Sun, 16 Oct 2022 18:13:00 -0400

In the first of a new Podcast series, Barry Schwartz, Chief Investment Officer at Baskin Wealth Management, discusses the ongoing market volatility and how we are positioning client portfolios with companies that we believe, in the long run, can withstand the challenging economic environment.