Alimentation Couche-Tard: My core Consumer Defensive + Carrefour assessment

Alimentation Couche-Tard: My core Consumer Defensive + Carrefour assessment

The market does not like the idea of Couche Tard buying Carrefour. A common reason is that Couche Tard is stepping away from it's roots to tackle the grocery business. Second, and the only reason that matters in my view, is that Couche Tard's target of 15% EBITDA growth moving forward might be challenged in [...]

Active vs Passive Investing

Active vs Passive Investing

For the long-term equity investor, the debate between active and passive strategies rests on three main considerations:  Market efficiencyPortfolio constructionHistorical performance Let's look at each in more detail. Market Efficiency At the centre of the active versus passive debate is the question of whether stock markets are efficient. What is an Efficient Market? In an [...]

Transcontinental Case Study

Transcontinental Case Study

Transcontinental (TCL.A) is a communications company that primarily operates in printing, packaging and media businesses. The company is the largest commercial printer in Canada and the fourth largest in North America. Following its acquisition of Coveris, Transcontinental is among the top ten flexible packaging companies in North America. (RBC Insight) Watchlist: Tier 1Price: $16.8Yield: 5.3%Sector: [...]

Research Process

Research Process

I utilize five sources for investment decisions:1) My Watchlist2) Morningstar Monthly Picks3) RBC Insight4) FAST Graphs5) Annual + Quarterly Reports 1) My Watchlist Tier 1: - Companies with a minimum 15 years of increasing dividends- Big 5 Canadian banks (RBC, TD, BNS, CIBC, BMO)- Brookfield Tier 2: - Companies with a minimum 5 years of [...]