Michael Decter Descartes DSG-T TOP PICK Feb 18, 2025

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

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.

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

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.

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.

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

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.

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. 

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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