Descartes (DSG-T)

Its customers are facing difficulty with making decisions given the uncertain trade environment. We think that it will see increased uncertainties in sales and earnings guidance, but largely, it has navigated challenges well in the past (2020) and we would be comfortable holding or buying here. 
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Excellent business that has owned for over a decade. Ability to allocate capital very good. Excellent management team that has been able to allocate capital well. Ability to generate cash flow very good. Share price appreciation spectacular.  Will continue to own for the long term. 

Will benefit from tariffs; they do logistics for companies. They make the paperwork easy. A great Canadian growth story. Has owned this a long time.

Only good things to say about the business and management (though he has a hometown Kitchener-Waterloo bias ;) Through the global lens, other companies are just as good, cheaper, with probably more growth potential.

A great business that keeps performing. Doesn't own it because it's expensive.

Leader in the space for years. Has gradually grown, and this continues. Future is bright. May be expensive, but it always is for such a high-quality asset. Keep holding. AVGO is his play in the sector.

It is never cheap. It is a play on global trade and is very well managed with very high margins. If held, keep holding for the long term.

Digital logistics. Almost fully priced. Don't buy here, but look under $127-128, $131, and then $134. Wait.

Yes, but it's also about international trade, so it could sell off again. But if you pull up the 5-10 year chart, it's a thing of beauty, and that's what you're trying to invest in. Exceptionally well managed, steady compounder. Always looks expensive, but whenever you buy it seems to be up 15-20% a year later. This dip is a great time to buy.

They run a phenomenal business, very profitable, but the stock is never cheap, at 29-30s PE. Super track record.

Software business that has strong history of value creation. Does not compare to Constellation Software, however is a good business. High margins with strong cash flow. 

Supply chain logistics and tracking solutions. Global, large. Owns a lot of IP, able to leverage it globally. Good story. Really consistent operators. No dividend.

Really likes this whole segment of e-commerce and logistics. A very clear winner in the space. Lots of acquisitions. Buys intellectual property, brings it in-house, rebrands and sells it. Cross-selling opportunities are pretty phenomenal.

Lots of room to grow. Pressure from higher interest rates will push companies to automate. As global trade unwinds, in a good position to help clients with complex logistics.