Still adding for new clients. Key has been that it has very little competition, unlike US counterparts. You pay up for that position, at 35x forward PE, but you get 15% earnings growth going forward.
Beneficiary of cumulative effects of inflation and uncertainty in Canadian economy. Recession-resilient business model. Outpaced the TSX since its IPO in 2009.
Sentiment's pretty rough on this name. Fairly cheap at 22x forward PE, 18% earnings growth. Regulatory scrutiny. Lost a bit of market share to LLY (which he still holds). Below 200-day MA, which is moving down. Growth of GLP-1 drugs is there, so he's keeping an eye on it for future.
He sold and put profits into CRWD (and then took profits on that, too). Like FTNT, still great names to own long term, as cybersecurity threats are only going to get bigger. Secular demand for software and services will continue. PANW is 53x forward PE, for 15% earnings growth, so he needs a lower PE to be interested. Capex slowdown from businesses in this area.
Likes it. Financials should be one of the leaders coming out of the current environment, as they were before the recent volatility. Down ~22% from recent highs last month on recession concerns. 200-day MA seems to be support where you can buy. As Buffett says, "Be greedy when others are fearful."
One of the leaders in investment banking and wealth management. Will benefit from deregulation and potential increase of M&A activity.
Names are the usual tech suspects. For him, he'd rather pick and choose names for his portfolio, as some names are very expensive and some are very reasonable. MER is 39 bps, and you can probably find cheaper ones in the US. Down 14% from highs, but still up 6.6% in a 1-year timeframe.
Might make sense for an investor who wants a broader approach and not as much Pepto Bismol ;)
Recent purchase. It's down 24% from recent highs, so it was an attractive entry point. Global travel demand remains resilient; higher than pre-pandemic, and holding steady. Consumer remains resilient. Lots of brands allows it to server diverse customer segments. Improved digital platform. Strong cashflow. Yield is 1.0%.
Interestingly, remote work trend allows people to work from...wherever. Earnings growth rate is ~19%, paying only 11x forward earnings, so a pretty good PEG ratio.
Basket of Canadian banks, no covered call. Past year's total return is nearly 14%. As well, better return over 3 years than ZWB.
Over the past year, total return for ZWB was ~9.5%.