Long Term Investing - With Baskin Wealth Managemen

Barry and Ernest explain how narratives impact near-term stock movements, before reviewing earnings and the 2026 outlook for Taiwan Semiconductor Manufacturing Company and Netflix. 0:00- Intro 1:31- Stock price narratives 5:27- Constellation Software disruptive threats 14:15- TSM’s strong growth 18:47- Netflix update

In this week's episode, Barry and Ernest discuss the criminal investigation of Jerome Powell as well as the US proposal to cap credit card interest rates at 10%.  0:00- Introduction 1:53- Narratives driving stock prices 5:36- Jerome Powell criminal investigation  13:56- Credit card interest rate cap 

Barry and Ernest are back in 2026! They break down the implications of Venezuela on the Canadian energy industry, before providing an update on several companies in the financial industry.  0:00- Introduction 2:16- How Venezuela impacts Canada 12:06- Why we own CNQ 14:39- Strong performance for financials 19:59- TMX Group update 21:24- Moody's update 27:40- MSCI update 30:40- Visa update 

This episode, Barry and Ernest review 2025 including both highlights and lowlights for the markets and the portfolio. 0:00 - Intro 4:06 - Lowlight 1: The Canadian Dollar 8:09 - Lowlight 2: Constellation Software 17:00 - Lowlight 3: Large M&A 21:50 - What’s nextfor AI 29:03 - Highlight 1: Google’s rebound 34:41- Baskin’s portfolio changes 39:39 - Strong fundamentals

This week, Barry and Ernest discuss Telus's high dividend yield and Canadian dividend stocks, break down Netflix's motivations for buying Warner Brothers Discovery, before wrapping up with an outlook for the Canadian banks.  0:00- Intro 5:00- Telus's dividend trap 8:40- Attractive Canadian dividend payers 12:48- Netflix's bid for Warner Brothers Discovery 16:56- Poor track record of media mergers 21:08- Netflix's motivations for buying WBD 33:04- Canadian bank update  40:14- 2026 for the Canadian banks  42:35- AI opportunity for Canadian banks 

This week, Barry and Ernest review results for Alimentation Couche-Tard and Copart before breaking down Netflix offer to purchase Warner Brothers Discovery.  0:00- Intro 8:33- Alimentation Couche-Tard's rebound 15:04- Canadian compounder buybacks 24:17- Copart's earnings 30:29- Copart's low-value car problem  36:42- How AVs impact Copart  39:00- Netflix's bid for Warner Brothers Discovery 

This week, Barry and Ernest review quarterly results for some more names before providing an update on their two favorite Canadian energy names.  0:00- Intro 4:24- TransDigm outlook 10:16- Great capital allocators pivot  14:55- Garmin update 19:33- Brookfield update 24:51- Buffett's pitch for Berkshire stock 29:13- Why we own CNQ 36:43- Tourmaline's business model   39:43- Data center tailwinds for natural gas  42:29- Country-level risk for commodities 

This week, Barry and Ernest give an update on a number ofcompanies including Apple, Amazon.com, TFI International, and Live Nation.  0:00- Intro 15:08- Apple strong results 26:08- Amazon and AWS growth  33:52- TFI's 2026 rebound 40:26- Live Nation update 

This week, Barry and Ernest discuss the underperformance of high-quality companies, provide an update on some companies in the financial sector and Big Techs, and defendpublic equities as an asset class.   0:00- Intro 7:38- Unprofitable company stocks 16:20- MSCI, TMX, and Moody’s update 24:15- Meta’s splurge on AI 33:40- Google and Microsoft’s earnings 39:58- Why we invest in stocks

This week, Barry and Ernest break down Apple's stock price resurgence and review earnings from Netflix, TSMC, and Waste Connections before explaining if it still makes sense to own compounders.0:00- Intro4:40- Apple update11:54- Thoughts on smart glasses18:05- Netflix's earnings32:23- TSMC's results39:31- Waste Connection's earnings42:58- What is compounding? 48:48- Characteristics of compounders55:51- When to sell compounders?

In the latest episode, Barry and Ernest provide an update onConstellation Software's management changes, earnings from Domino's Pizza and Costco, and Ferrari's strategy over the next 5 years.  0:00- Intro 6:25- Market update and deals between big techs  9:40- ConstellationSoftware's CEO succession 18:50- Domino's Pizza update  28:40- Costco update 32:16- Ferrari's investor update 

This episode was recorded before the sad news that Mark Leonard had to step down as CEO of Constellation Software for health reasons. We wish him a full and speedy recovery. This week, Barry and Ernest react to Constellation Software's conference call about the risks and opportunities of AI to their business. 0:00- Intro 4:34- Constellation's AI conference call 13:53- Geoffrey Hinton's radiologist prediction 14:58- AI concerns for Constellation 24:48- AI opportunities for Constellation 27:02- Constellation's decentralization 32:00- High hurdle rates for M&A

This week, Barry and Ernest provide an update onBrookfield after its annual investor day, before breaking down Adobe's earnings and business updates.  0:00- Intro 6:40- Brookfield annual investor days 9:38- BAM's AI strategy 17:27- BAM's retail opportunity  18:51- BAM carried interest  20:41- BN's insurance business 31:48- BN's real estate update  35:19- How BN's insurance growth benefits BAM  39:39- Adobe update 

This week, Barry and Ernest break down Google's favorable antitrust remedies ruling and how it impactsGoogle, Apple, and perhaps surprisingly, Live Nation. 0:00- Intro 2:04- Google's antitrust risk 8:34- Favorable remedies ruling for Google 13:18- AI competition for Google Search 18:12- Apple benefitting from the ruling 25:00- Live Nation's antitrust issues 30:00- Live Nation's international growth

This week, Barry and Ernest discuss the risks of alternativeinvestments and explain why long-term investing makes sense, before reviewing the current state of Canadian banks.  0:00- Intro 2:20- Are alternatives suitable for investors?  13:25- Cracks in the housing market impacting banks 15:55- What does long-term investing mean? 19:30- What a long-term investor should look for?  22:30- How incentives lead to short-term performance 26:35- Building conviction through research for the long-term  29:52- Incentives to sell "losers" 36:00- Update on Canadian banks 

Barry and Ernest are back from summer vacation and discuss why companies need to think locally in international markets, before breaking down how Big Techs can earn healthy returns on their massive capital spending on AI.   1:41- Ernest getting stuck in Europe 5:37- Importance of local operators 9:04- Couche-Tard’s failed Carrefour deal 14:50- Market update 21:24- Google’s strong performance 26:24- What’s the return for big tech capex? 33:20- Will AI displace traditional software? 36:25- How AI impacts Constellation Software

0:00 – Introduction 5:06 – Tariffs removing regulatory scrutiny on Americantech 9:03 – Importance of culture for long-term performance 15:28 – Update on Adobe 27:58 – Netflix’s earnings 34:26 – Domino’s earnings 39:06 – MSCI’s earnings

In this week’s podcast, Barry and Ernest react to Alimentation Couche-Tard announcing it will drop their bid for Seven and i, before discussing TSMC’s quarterly earnings. 

In this week's episode, Barry and Ernest review the firstsix months of 2025 before breaking down National Bank of Canada.   0:00 – Introduction 2:10 – A review of the first six months of 2025 8:22 – Good businesses outperform in volatility 13:00 – Notable performers in the first half 27:50 – Breaking down National Bank 49:03 – Disruptors for Canadian banks?

Barry and Ernest break down their views on investing in gold and “alternatives” and then discuss Alimentation Couche-Tard’s earnings. 0:00 – Introduction 1:40 – The Outsiders + capital allocation 5:33 – Why we don’t own gold 15:47 – The issue with “alternatives” 23:49 – Evaluating AI within non-tech businesses 31:13 – Alimentation Couche-Tard earnings