Rob Sechan, Managing Partner, New Edge Capital

Trading at a high 32x forward PE, but shares are near 52-week highs. Is growing around 15% in earnings despite a challenging macro. Cross-border travel continues to beat expectations. Consumers are also seeing higher wages to fuel their spending.

This and Lowe's are quality businesses that he's long owned. Healthy profits and capital efficiency. They will benefit if interest rates decline. Be patient.

This and Lowe's are quality businesses that he's long owned. Healthy profits and capital efficiency. They will benefit if interest rates decline. Be patient.

He likes financials, and JEF is gaining market share. This will benefit from more M&A next year. Trades at a 17x forward PE.

Terrific fundamentals: 38% free cash flow margins and 64% operating margins. A key holding for him. They're in the midst of a secular growth opportunity in AI.

He's benchmark-weighted this name. It's dangerous to go against a stock that has this kind of cash balance. Also, they buyback shares on earnings. (Hit a record high today.)

He bought this May 1, and up 52%. It's still cheap. Trends look favourable over the holiday season. Hold until at least May 2025.

His biggest winner of the year, up 264%. He has not trimmed his holding. It still isn't expensive at 20x forward PE. Demand for energy to fuel AI will endure.

Down 25% this year. He continues to be patient and will hold. The disruption story to Adobe's core is overdone. It has incredible profitability, trading at a 30% discount to its 10-year average. They will figure out how to do AI.

Up 45% this year and still trades at only 12x PE. There will always be ebay, leverage to the consumer and open to AI developments.

He saw it as a cheap way to play China's resurgence. He round-tripped it, up and down. We've reached peak pessimism here, so you can own it now.

They report tomorrow. Lower interest rates will push sales, and the extreme weather is behind us.

A tough stock that you must be patient with, but ultimately this is a double-digit compounder with healthy fundamentals. They're seeing slower than expectation monetization of AI (Firefly). It's a show-me story. He's underwater on this, but you can buy this at current levels.

It's a turnaround story, so he initiated a position. He is selective in industrials, because they trade at a 24x forward PE, higher than the S&P.

Industrials have done very well for him, but are now expensive at 24x forward PE, higher than the S&P. Industrials are cyclical, too.