Brian Madden

Believes US President Joe Biden stepping down is good for the overall prospects of US politics. It appears Republicans have the advantage at this time, but regardless, high quality, bottom up approach to investing is best for investor portfolios. Generally speaking, politics are hard to predict. S&P 500 at all times highs, and TSX index also performing well. Sees an investment case for TSX catch up(lower PE ratio) to the S&P 500. Overall, it is an excellent environment for active stock picking investors - lots of under valued equities in the markets. However, sectors like Canadian Telecom sector will be difficult (very price competitive and hard to make a profit). 

Large share run up lately with a recent dip a good time to buy. Owns shares in portfolio. One of the World's largest Uranium reserve deposits. Benefiting from higher Uranium prices - expecting ~30% earnings growth. Rising Nuclear demand in North America will be good for the business. Recent M&A is proving to be fruitful as well. 

Recent all time high of the stock good for shareholders. American version of Constellation Software (Canada). Dividend has grown at ~ 14% annually the past 10 years. M&A skill very good - usually pay cash and is friendly. Excellent growth prospects for the long term investor. 

Best in class business with excellent prospects. Assets very hard to replicate. Strong management team. Safe earnings that are very consistent. Business that is an essential service, that carries goods across the country. 

Has since sold shares. Not a consistent business. Indirect proxy on US military spending, but business not performing. Very complex projects that capital intensive, and hard to make profits. Fixed price contracts during inflationary times is hard on the business. 

Will continue to own shares. Awaiting upcoming earnings results (expected to be strong). Recent market selloffs will be temporary. A good long term investment. 

Stock performance has done well. Will continue to own shares. Great company - one of the World's best capital allocation machines. Ability to compound money has been good. A good way to get exposure to diverse sectors. Also a good way to get exposure to private markets and companies. 

World's largest producer of Methanol (used in Gasoline blending/industrial applications). Canadian company with capacity to produce 10 million tones across the globe. Cyclical commodity that varies with China demand. Earnings $7/shrae in 2018, lost $1.62 in 2020, will earn ~$6.50/share in 2024. Would be a good trade, or something to buy on the dip. Hard to predict outlook of the business. ~1.5% dividend rate, which isn't high - can also be a risky dividend with cyclical business. Would not recommend investing for the long term. 

Owns shares and would recommend buying. Global consumer goods powerhouse. Strong brand names with sticky adoption rates. Ability to generate profits despite higher chocolate prices. Would recommend holding for the long term. Ability to pass on rising costs to consumers. 

Does not own shares. Very strong business with eCommerce business and cloud computing service. Very hard to purchase at a reasonable price. A strong company, but sees better opportunity elsewhere. Shift from bricks and mortar - good for business. 

Great company that owns shares in. Has been a previous "Top Pick". Recent company turn around excellent for investors. Prior business model and management teams appear to have changed their stripes. A good time to invest right now given cheap shares. New projects are expected to generate profits, unlike the past 10 years. Private aviation has a lot of opportunity.  

Large issue with the company is legalizing the products(marijuana). Another worry is the over supply of products in the market. Federal laws against marijuana in USA make it hard to deal with expenses that are not deductible (100% tax rate). Could be a good investment if US legislation changes. In the meantime, would not recommend investing. 

Traditional bricks and mortar business that will face competition from eCommerce. Undifferentiated shopping experience that is not enjoyable. Discretionary product offering makes it difficult to retain customers. Would not recommend investing at this time. Housing slowdown in Canada will also be hard on the business. 

Owns shares in the company. Strong company with excellent prospects. M&A turning out very well (Canadian Western Bank). Recent disappointing earrings not a concern. Characteristically cautious on loss provisions may turn out to be too conservative. Overall, is a strong business that will continue to own. All business segments in the business very strong. 

Airline business very hard. Would not recommend investing. Too much leverage and cyclical revenues. High capital expenditures also make it hard to earn profits. Travel preferences very fickle among consumers.