IGM Financial Inc. (IGM-T)

Really likes financials for the second half of the year. From July-September, returns are anemic compared to the market. But at the end of the year, financials have good outperformance. Looks fantastic, strong dividend. Likely to take out highs of 2021 over the course of this cycle. Upside until late 2025 or early 2026. 

It is expanding into the U.S. and making acquisitions. It has pulled back and could flat-line for a while, You could also look at the parent company Power Corp.

Great job renovating their franchise. He prefers POW, with its discount to NAV and ownership of GWO and GBL. Will continue to buy assets because they need scale. If you don't have scale, asset management becomes very difficult.

Are sensitive to market flows. Part of the Power Financial Group; she owns Power shares, the parent company. Prefers Power Corp. for its dividend.

A good dividend and balance sheet is strong. Cash flow, too. Most of your return will come from the dividend. The problem is that they're in a secular growth industry anymore, not like the 1990s or the early 2000s, and it's being disrupted by fintech. IGM is fine, but will not appreciate much.

IGM-T vs. MIC-T. He would prefer MIC-T. He likes the underlying fundamentals, but has always worried about a real estate downturn and how it would affect it. He prefers it to IGM-T where he does not see how the fee structure would be sustainable in the long run.