Jamie Murray

He owns no engineering or construction, which have had a tough 12 months over AI fears. Prefers Stantec of Atkins. He doesn't believe the AI threats is as dire as the market fears.

A sleep at night stock. If you get 12% a year compounded, you'll be happy. The dividend will grow each year. Good management. GOod to buy this 5-6% like now. Don't expect 30-40% returns, but this will be an anchor in your portfolio.

Managed well that puts together good deals. In private equity, he prefers Blackstone which has more leverage in its business model and less exposure to the global office market, though BN owns quality office towers. BM has one advantage: it can list on the NYSE and get on the S&P which can uplift the valuation.

It focuses only on high-end New York City apartments, which has only 2% vacancy, a hot market, where rents are rising. They're trying to buy H&R REIT (which holds the sunbelt market, though a depressed one). If the deal closes, it will be good for GO. Not worried about the dividend.

Trades at 15-20x revenue, so the market expects strong growth for five years without AI disruption or hiccups. Prefers MSFT at a much-lower PE.

He likes it for water treatment business, which is stable, and it pays a nice dividend. Strong capital allocation; they got rid of convertible debentures and are buying back stock. It can compound 10-15% a year.

He has sold or taken profits from all Canadian banks after their strong run. He sold TD. Multiples are way above historic averages, given expectations of the banks returning excess capital to shareholders. The space is seeing more competition, though, like Wealthsimple.

Doesn't know what to do with this. Semis is almost a play on the cyclicality of additional leverage on the growth on semis. Shares have moved up a lot. He expects their next numbers to be very strong but these companies are not about what they will make today or tomorrow, but in 2029? The memory space has positive tailwinds as the demand for memory keeps growing, but will that outgrow capacity? MIcron's revenue looks like it will peak in 2028 then flatline. What will happen after?

It did well initially, then sold off on minor credit concerns and emerging market jitters. It's low-cost to serve their customers: cost them $1 to serve a customer but generates $15 per customer up to $30 a month. They want to expand beyond Latin America into the U.S.

They built a unique aerospace platform which almost dominates rural, northern Canadian aviation. They do air ambulances for provinces and regional airlines. The businesses aren't great on their own, but synergies are great. The PE has risen and the dividend fell too low for him.

Is a large holding. They did a big restructuring and hired a new CEO. The stock has been flat the last four years. They're buying healthcare properties and developing others. They can cover their 6.5% yield, but shares are stuck at $5-6. The NAV is above 7. Real estate will be a strong performer, and the discount to NAV will close. Targets $7.

It's a drag on the stock that they haven't sold their large American assets. They're spinning off their software business. They own part of a company that AI health software. They have all the parts to make an interesting story, but the market wants to see clean growth and synergies. If ti works, it could be really good. On his watch list.

Owns some in his TFSA. A recent holding. At $30, the EBITDA is 17-18x. Governments realize the value of outer space, an important frontier. They're sold out of solar panels through 2029. They supply one of the larger US companies solar panels. They just bought a space business in 2021 which was a home run.

They're hitting their targets, are growing their gross market value 20% annually and adding new riders as food customers. Their membership business is growing. Lots of growth around the world. The knock against them is Waymo; they are divorced from them. Will partner with NVDA instead. Surge supply is also a plus.