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BUY
A core holding of his since he recommended it in 2019. They sell supply-chain management software solutions which enjoys high demand, mostly to US healthcare, retailers and auto parts. They have a work backlog. But the stock has fallen along with the tech sell-off. TCS is trading at a third of its peers' (i.e. Kinaxis) valuation, so it's cheap. A quality growth name with years of growth coming.
consulting
BUY
ENB and TC Energy for a TFSA? He owns both. ENB is a top energy infrastructure company that moves crude oil. TC is more focused on natural gas, plus holds utility-like assets. Both grow their dividends and are in a good place as companies wean themselves off Russia and with more infrastructure spending to come. A safe way to own energy, which is through their infrastructure.
oil / gas pipelines
BUY
A leader in nuclear valves. Four years ago he was activist shareholder, but the company has made great strides since then. Their turnaround plan is in full swing. Gross margins have increased a lot and they have a record backlog. Are benefitting from energy infrastructure spending and the need for more energy. Company remains way below book value, so it's cheap. It could be sold one day. A long-term hold for a deep value investor.
INDUSTRIAL PRODUCTS
BUY
A fast-growing telehealth company and are pushing hard into enterprise health solutions by offering a one-stop patient approach to the primary care and mental health sectors. They are integrating several acquisitions. They are guiding to an EBITDA of $10 million this year which they could surpass. This sector has been almost left for dead, but the digital revolution in health has just begun so now is the time to enter it.
Healthcare
BUY
Launched a data-capture platform for clinical trials today One reason they bought BioPharma was to digitize it, so the announcement is no surprise. THNK digitizes data and enables the connection between healthcare, government and patients through their software. They digitize clinical data, like trial data. This is one of his two e-health holdings. Its valuation is reasonable and there's organic growth ahead.
Healthcare
DON'T BUY
You never know the bottom on these high-multiple stocks. He's a value investor, so it doesn't interest him. As interest rates rise, the PEs on these tech stocks compress. If you buy this, expect extreme volatility. Down the road it is a profitable business.
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STRONG BUY
It was formerly Centric Health which had many businesses and a lot of debt. They paid the debt and sold businesses. Now, they're 100% focussed on Canada's #1 institutional pharmacy which distributes to seniors' homes. They're automating fulfillment centres to expand margins. Again demographics are a tailwind. Tuck-in acquisitions are coming and are integrating some now, so there are expected costs. He holds a large position. Trades at a reasonable valuation. A safe growing stock.
Healthcare