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  • Predictions are hard and Ernest meets Mike Rose

    Predictions are hard and Ernest meets Mike Rose
    2025/01/21
    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.
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    34 分
  • Take me to the Stars! An update on Constellation Software

    Take me to the Stars! An update on Constellation Software
    2025/01/14
    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!
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    54 分
  • Year-End Wrap

    Year-End Wrap
    2024/12/17
    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.
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    46 分
  • Getting Back into Meta + Your Questions

    Getting Back into Meta + Your Questions
    2024/12/10
    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.
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    47 分
  • More on Tariffs, Google, Couche-Tard and Copart

    More on Tariffs, Google, Couche-Tard and Copart
    2024/12/03
    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.
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    46 分
  • Tracking Berkshire's Portfolio + Your Questions!

    Tracking Berkshire's Portfolio + Your Questions!
    2024/11/27
    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.
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    48 分
  • Taking a position in TransDigm

    Taking a position in TransDigm
    2024/11/18

    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.

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    43 分
  • Catching up on Apple, Berkshire and Garmin

    Catching up on Apple, Berkshire and Garmin
    2024/11/11

    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.
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    40 分