Bombardier Inc (B) (BBD.B.TO)

Bought it when it was out of favour at 4-5x operating cashflow, but now trading closer to 15x. Sold on valuation. Fantastic job. Still risk on US sales, and what CUSMA might do. Private jets are pretty economically sensitive.

He regrets not buying this at $70. He thought the business jet business was too cyclical. He didn't realize the service business to it is high margin.

Aerospace is a great and growing industry. Catalysts for positive change, such as Canadian contract and potential NATO contract. Paid down debt, has become a pure-play business jet leader. Now has a dynamite balance sheet. Strong jet-delivery growth, margins expanding. 

New order book grew 43% in past year. Services increased 25% YOY. Will generate $1B in 2026. No dividend.

Problem is it's so capital intensive with limited cash flow, but there is massive demand for airplanes. Keep watching it. Is doing well and are refocusing the company well.

Pretty impressive. From near-bankruptcy to where we are today. Debt brought down, leverage profile now 2.6x (fairly good). Canadian government contracts, tailwinds from defence spending. Good growth profile. Increased FCF probably put to buybacks instead of dividends.

It had a great run, corrected and is stabilizing at $240 with resistance at $280. Looks sideways with an upward trend. Aerospace and defence and performing well during this war. But they are impacted by shifts in politics (Trump).

It has had a very successful turn-around. It sort of downsized in 2020 and focused on business jets. At that time there was too much debt but the balance sheet is much improved now. The price then was around $10 so it has been a 25 bagger in 5 years. Since it is priced much more fully now, he would trim and not add.

Doing very well. Best player in private aviation. Last week's White House tweet is a TACO Trump opportunity. Made US acquisition today, so it's not retrenching. Likes it.

Classic example where you can't overreact to the news. When that announcement from the US came out the stock saw a bit of a dip, which has now mostly been recouped. Good company, good stock. It's all about political posturing, and sometimes companies get caught up in that.

Phases 1, 2, and 3 of the business cycle are the expansion phases and they typically last a year. His team believes that last year was phase 1, so now we're in phase 2. This matters because industrials typically do well in phase 2.

Likes it, chart looks great. He'd continue to hold. If it goes up another 1%, you could trim that 1%. If it takes out somewhere in the $240 range (which is a pretty good level of support), that's when he'd trim a bigger portion. A move below $240 indicates that something significant is happening.

Recent great growth story. To get in, certainly wait for a pullback because the runup has been extreme. Defense aircraft segment starting to pick up. Will continue to do well, sees more upside from here.

Market-leading capabilities. Best of breed, ahead of competitors. Building good after-market parts and service business -- not exactly recurring revenues, but predictable. Small, but growing, business selling to NATO allies. Lots of ways to win. Likes it here.

Continues to execute. We have this K-shaped economy, and this name is at the top end of the K. Continues to build more business jets and sell more. Newer, faster jets are in demand from top corporate clients. Multiple defense initiatives, such as with Saab. Good work getting balance sheet in order, numbers continue to accelerate. Likes it here.

Pleased with performance. Continues to like. Runup this month due to contract to deliver 50 aircraft. Pure play on private aviation. A generation or half a generation ahead of competitors in medium- and long-range aircraft. It's the best on a range of metrics, and its money-is-no-object customers don't comparison shop. After-market parts and services business. Chance to win defense contracts.

Enjoying a moment in the sun after 20 years under a dark cloud. Most investors haven't yet realized that, so more upside.