The Canadian Investor - 20 Stocks Held by Money Managers and a Digital Loonie

Episode Date: May 22, 2023

In this episode, Simon goes over the public consultation survey that was recently put out by the Bank of Canada about a new Canadian Central Bank Digital Currency (CBDC). We look at both the pros and cons of a Canadian CBDC. Braden then goes over 20 widely held stocks by professional money managers.  Symbols of stocks discussed: INTU, SPGI, TSM, UNH, CRM, NFLX, TDG, TMO, CHRTR, LBRDK, ADBE, BRK.B, META, NKE, SCHW, MCO, MA, AMZN, MSFT, GOOG, V Check out our portfolio by going to Jointci.com Our Website Canadian Investor Podcast Network Twitter: @cdn_investing Simon’s twitter: @Fiat_Iceberg Braden’s twitter: @BradoCapital Want to learn more about Real Estate Investing? Check out the Canadian Real Estate Investor Podcast! TCI meetup registration Bank of Canada CBDC Survey Apple Podcast - The Canadian Real Estate Investor  Spotify - The Canadian Real Estate Investor  Sign up to Stratosphere for free 🚀 our platform for self-directed stock investing research. Register for EQ Bank, the seamless digital banking experience with better rates and no nonsense.See omnystudio.com/listener for privacy information.

Welcome back into the show. This is the Canadian Investor Podcast, made possible by our friends and show sponsor, EQ Bank, which helps Canadians make bank with high interest and no fees on everyday banking. We also love their savings and investment products like GICs, which offer some of the best rates on the market. I personally, and I know Simone as well, is using the GICs, which offer some of the best rates on the market. I personally, and I know Simone as well, is using the GICs on a regular basis to set money aside for personal income taxes in April of every year. Their GICs are perfect because the interest rate is guaranteed, and I know I won't be able to touch that money until I need it for tax time. Whether you're looking to set some money aside for a rainy day or a big purchase is

coming through the pipeline or simply want to lower the risk of your overall investment portfolio, EQ Bank's GICs are a great option. The best thing about EQ Bank is that it is so easy to use. You can open an account and buy a GIC online in minutes. Take advantage of some of the best rates on the market today at eqbank.ca forward slash GIC. Again, eqbank.ca forward slash GIC. This is the Canadian Investor, where you take control of your own portfolio and gain the confidence you need to succeed in the markets. Hosted by Brayden Dennis and Simon Belanger. The Canadian Investor Podcast. Welcome into the show. My name is Brayden Dennis, as always joined by the affable Mr. Simon Belanger. We have a great Monday release for you guys. Today on the show, we're going to talk about some luxury stocks and

Ferrari. You're going to talk about the new CBDC, Central Bank Digital Currency, public consultation from the Bank of Canada. And I'm going to talk about the Compounder Bro watch list. so 20 names that large large funds large 13f filers all tend to like and own and then you're gonna round out today's show we're talking about gold um quick thing did you know that the mclaren f1 not like their f1 team yeah like the car the mclaren f1 sold for over 20 million usd and i didn't know yeah that's crazy one car i mean if there's one thing about the excess of capitalism that's that's it right there yeah like is that really necessary or like you know those 30 million dollar homes and stuff like that yeah yeah imagine buying a car for 20.5 million and that was 2021 that was

the last sale of a mclaren f1 so you know these things just keep going up because they're so scarce so would it be ridiculous to say that you know it's worth more than 30 million usd for a sale today because there's there's there's only mark to mark like every few years when one yeah i mean cars can be good investments if they're very rare and you know no longer made and oftentimes uh you know it could be the first you know the first year producing a certain type of car as well so i mean they're not always bad investments but i would say probably 99 of the time it is and that one percent where it's more you probably even less 0.25 or something like that are you saying my beautiful red hot nissan rogue won't be worth 20 million one day wow

if we have some supply chain issues for for years to come maybe yeah yeah catch catch my uh my nissan rogue on auto trader for 21 million next year speaking of expensive cars and luxury stocks ferrari now ferrari stocks, Ferrari. Now, Ferrari IPO'd in 2015 as a spinoff of the Fiat Chrysler Empire. And it is in a bucket of truly luxury in terms of brands, right? Very exclusive. You can only buy the newest Ferrari if you already have a Ferrari as well. From a price point and from a inventory perspective, every Ferrari is spoken for before it is made. And that puts it in an elite category of luxury. You have like Hermes, Rolex, Ferrari, McLaren. It's actually a step above the LVMH brands in terms of extreme luxury. And Ferrari definitely fits the bill. It is publicly traded under ticker race, which is amazing, by the way, for a stock ticker says ticker race for Ferrari NV. And if you look at the fundamentals, they're shipping more and

more cars every year. In December 13, they shipped 7,000 cars. They shipped 13.5,000 cars in the last trailing 12 months. The 2022 number finished at 13.2,000 Ferraris shipped out. Every single one is sold before they make it for egregious amounts of money. And the stock has compounded since the spinoff at over 25% a year. It's up 450% in the last seven and a half years. So phenomenal performance. The stock is expensive, like most luxury stocks are. And it speaks to just a different category of wealth, right? This has been a theme of the show lately yeah you know certain certain stocks are cyclical but not at the most extreme levels of wealth if that is your customer have you ever taken a dive into ferrari no i haven't and i've never been in a car in one of

those cars either so i haven't really had the chance to or i mean it's never really piqued my interest all that much but i know it's it's been a pretty good stock overall yeah i actually don't really like ferraris that much um if i'm being completely honest of course they're sexy sports cars uh they're they're quite cool the performance is amazing the the brand is is beautiful i just don't love the look of the cars and this is very subjective and if you're a ferrari lover at home uh i'm not dissing i just don't love them that much but i have sat in a la ferrari the like hybrid one the super super car performance one and it's like it's a spaceship it's not a car i mean i guess they're comparable to lamborghini right i'm not uh the biggest car person i know uh lamborghini i think

it's owned by volkswagen yeah lamborghini is in that same that same list i don't know i don't i i don't know what's more exclusive i think think it's Ferrari, just based on the number that they make. Yeah. Ferrari's coming out with this SUV now as well. Yeah. They've all come out with this SUV. Every luxury brand has. And Ferrari's doing that as well.

And they said that they've all already sold every single order. It's just another level of hyper wealth and luxury. And Ferrari is one to look at in terms of a stock that if you want to fit that niche bucket in your portfolio, it trades under ticker race on the US market. And is it a cheap stock? No. But does it deserve to be a cheap stock? No, I mean, I personally don't really I mean, you know, a nice car is nice. That's my view. And if we're looking really just at the car itself, but in terms of, you know, I know some people are just passionate about Ferraris and cars in general. And, you know, that's just their their baby, basically. But for the most part, you know, people showing off their wealth because of that. I mean, I have a lot more respect for someone who drives a very normal car and then, you

know, I'll meet that person. And then a couple of years later, I, you know, I learned somehow that are multimillionaire and I had no idea. That's where I I'm really impressed with someone. It's just I find that pretty impressive when you kind of learn. I think, you know, Buffett's a bit like that, right? If someone didn't know who he was, I think he drives a really old car and you wouldn't know. He drives a used Cadillac.

Exactly. So I kind of like Warren over there for the way he does things. I love a Porsche and I definitely want one. At one point, my dad loves his classic Porsches and he's owned a couple. And so that's obviously rubbed off on me, but they're awesome without having to spend $21 million for a McLaren F1.

As do-it-yourself investors, we want to keep our fees low. That's why Simone and I have been using Questrade as our online broker for so many years now. Questrade is Canada's number one rated online broker by MoneySense. And with them, you can buy all North American ETFs, not just a few select ones, all commission free so that you can choose the ETFs that you want. And they charge no annual RRSP or TFSA account fees. They have an award-winning customer service team with real people that are ready to help if you have questions along the way. As a customer myself, I've been impressed with Questrade's customer service. Whenever I call or email, every support rep is very knowledgeable and they get exactly what I need done quickly. Switch for free today and keep more of your money.

Visit questrade.com for details. That is questrade.com. Here on the show, we talk about companies with strong two-sided networks make for the best products. I'm going to spend this coming February and March in an Airbnb in South Florida for a combination of work and vacation and realized, hey, my place could be a great Airbnb while I'm away. Since it's just going to be sitting empty, it could make some extra income. But there are still so many people who don't even think about

hosting on Airbnb or think it's a lot of work to get started. But now it is easier than ever with Airbnb's new co-host network. You can hire a local quality co-host to take care of your home and guests. It's a win-win since you make some extra money hosting on Airbnb, but can still focus on enjoying your time away. Find a co-host at airbnb.ca forward slash host. That is airbnb.ca forward slash host. All right, moving on. So what's going on here? I have no idea and I'm just excited for this. Some of you may have seen on Twitter, it's made the round.

I posted about it as well. So the Bank of Canada is doing a public consultation on central bank digital currencies, also known as CBDCs. So they posted last week this announcement. I will put a link for people who are interested in doing the survey. I definitely encourage you to do the survey, provide some feedback to the Bank of Canada regarding that. The one thing that I found in the survey, I was really disappointed about how it was worded because throughout the survey, they only highlight the positives without mentioning any of the risks.

So I'm going to try to do a better balance here. I will talk about the positives, but also talk about the negatives and some of the dangers of CBDC that people should be aware of. Before I start with that, so the basics of it, I did talk about it on the podcast maybe a year and a half ago just to explain to people generally what they were. But a CBDC, basically what the Bank of Canada is proposing is they are consulting about a retail CBDC because there are also all-sell CBDCs, but those are just more used behind the scenes for transactions between the central bank and banks, for example. So not something that has a whole lot of impact on people. A CBDC, a retail one, well, CBDCs in general general they're issued by central banks and use

blockchain technology if you're not sure what blockchain technology is it's the same technology that bitcoin and cryptocurrencies are built on the big difference here is that a cryptocurrency like bitcoin for example has a public blockchain where anyone can see it. You can see any transaction on the Bitcoin blockchain as long, you know, you can also pinpoint who did it if you know who owns whichever address. Whereas a CBDC, which is controlled by the central bank, uses a private blockchain. And that's really important to remember that. I'll touch on it a bit later. That's why, like I said, on a public blockchain, you can view all the transaction.

Whereas a CBDC like this, only the central bank or government would be able to see the transactions. So the positive, well, actually, do you have any questions there before I get into positives and negatives? Not yet, but that's definitely interesting to call out via public versus private blockch uh not necessarily uh cbdcs you know some of them are just not decentralized but one like bitcoin is and that's really important to remember because at the end of the day the central bank of canada in this case would actually control what they do and also the money supply associated with that. So the positives here, it could help people who don't have a bank account by allowing the Bank of Canada or another central bank, if they do have their own CBDC as well, to directly send money to their citizen. So the only thing that would be required is for the individual to have a

smartphone because a lot of people may think, oh, everyone has a bank account in Canada. Well, no, not everyone has a bank account. And this would allow those who don't to be able to be banked in another fashion. Second, it could allow the Canadian government to send targeted payments. For example, they could use a CBDC to send the funds directly to Canadians who are eligible to get the grocery rebate that was just announced in a quick and efficient manner. In this example, they could even program it so that people could only buy food with it. So they could send someone money but say you can't spend on anything other than food they could even program it to say you can only spend on certain types of food because the CBDC is basically a smart blockchain so it's programmable so they can actually do different things with it third it could be used to stimulate the economy or spending in certain sectors of the

economy because it will use smart contracts like I mentioned an example it could be used to stimulate the economy or spending in certain sectors of the economy because it will use smart contracts like I mentioned. An example here is let's say the economy is struggling and the government wants to stimulate spending near term. They could send money to citizens with an expiration date of two months. If you don't spend the money within the time frame it expires and since it could go directly from the central bank to citizen bypassing the middleman that are banks as we know him it would it should be much quicker than the current system and be much more cost effective from a fee perspective i'm sure if they go ahead with this they would have some kind of hybrid system where

you know they would still require banks like the big six in canada to be involved because obviously if they bypass them too much at some point would just impact the bottom line for those banks i'm sure the those keep that in mind and uh when they start developing that um any comments here can i ask some really dumb questions some really entry-level stuff here because i know nothing about this and i know a lot of people listening also know nothing about this how does this interact with the cad i mean it would basically have the same value as the canadian dollar yeah it is so you know in the u.s they have like stable coins like usdc usdt and all that this would basically be a stable coin issued by the central bank so that's that's the easiest way to do it. Yeah. Okay. So it is the CAD just delivered in this fashion.

Yeah. Instead of like, you know, it would be a digital form of money, but it would just be a digital form of the Canadian dollar. Yeah. Okay. Okay. I'm glad. I'm like the kid in class right now is like, I got a burning question that is very fundamental, but lets everyone know, I don't know what I'm talking about.

And that was one of them. Cause I mean, all the discussions that I've heard about CBDCs, I've always thought, are they a separate, like, are they like a new coin? Like how is it seems so counteractive to the incentives incentives of a of a central bank who wants you know their currency to be strong and the whole goal is to um a lot of it not i would say the whole goal because i'll talk about some of the downsides here but um one of the things that would make it more efficient if people want to wrap their head around it is let's say you know i go and i buy you know everyone knows i wearululemon, so I go and purchase something with my credit card for Lululemon.

Well, there's a reason when you go on your bank account, when you've made a purchase, it's impending because then there's the settlement that has to happen between my bank and whichever bank Lululemon deals with. And exactly so in the background, that usually takes a couple of days. And exactly. So in the background, that usually takes a couple of days. They'll usually take aggregates of a whole lot of transaction, do all those settlements. And then obviously, there's money that needs to be moved from the bank I deal with to their bank and all the other transactions that would have the same kind of two banks involved. That's where it's settled in the background. With a CBDC,

the settlement should be in theory just instantaneous. Can I ask another big picture question? Why do governments want to do this? Other than, you know, leave, outline some positives. Like what is the, you know, if I'm sitting at a boardroom, if I work for the Bank of Canada and I have some mandate and I have some incentive structures to do X, Y, and Z, what is like kind of the overarching motivation for this? Well, I think, you know, I'll try to think about the good before i go into the negatives uh yeah like aside from conspiracy theories like what what is like a logical yeah i mean so let's just say for example um so the canada emergency respond benefit so people who got impacted by the pandemic by all these lockdowns um you know it wasn't a very seamless process. It took time. I mean, in the US, people were literally receiving stimulus checks, like paper checks. That's how

like slow it was. Right. So CBDCs would enable the government to send the money, for example, to citizens directly in a much quicker manner. So if you have an emergency situation like that, and you really need to send money quickly to individuals and making sure that, you know, they're able to make, but I get direct deposit with everything from CRA. It's still, you know, there's still some processing times. The length is not extremely quickly because you're still going through the traditional banking system, right? Even if you do a wire, it could take a couple of days before the wire gets through. So definitely there's an efficiency part of it. But again, for the people

that are not banked, they just need a smartphone, which pretty much everyone has. I mean, I see homeless people sometimes that have a smartphone as well, right? So you do have this easy way to actually be able to receive funds from the government, even if for whatever reason you don't qualify for a bank account. Okay. I might have some more burning questions. Like I said, this is brand new to me and I'm still trying to digest the big picture why and why and how i'm not an expert on this just to be fair but i did uh quite a bit of research and i'm still learning i find it pretty fascinating um now the downsides are in my opinion are pretty big and i do hope people make their own opinion obviously that's why i'm trying to do as much of a balanced approach as I can here. So the biggest one is privacy.

So governments could easily freeze individual accounts, reverse transactions and prevent the ability of individuals to spend on certain things. They could send the money, but prevent you from buying cigarettes, alcohol, cannabis with it. You know, I have no issues personally, if the government says, okay, like, you know, whatever, you want to put a label on something, that's fine. But at the end of the day, personally, I think if you're an adult, you're able to make your own decisions. And who is to decide what you spend your money on, right? So I think that can be, that can be a pretty slippery slope that I think we have to be careful. Governments would also have much more financial data on individuals. I mean, they can still get that data, but it would basically

be very accurate. So they could tie that to individuals. The survey talks about privacy and guardrails, but the ability for the government to get that data and use it in a perverse way is there. I mean, I want to thank our elected officials and our bureaucrats and all that. I want to think they have good intentions, but we've seen time and time again, whether you look at the Patriot Act in the US, but even in Canada, we've seen instances where certain laws were passed, certain tools were in place, and the intent was for something specific, but you saw the government using for, you know, spying on its own citizen. And I think it's really dangerous when you have the tools in place because, you know, if you just need a small group of bad actor to start using it in a very kind of perverse way.

And I think that's really, really dangerous. However, you know, I'm sure they want to make it as private. That's what they seem to be conveying in that survey. But at the end of the day, the ability to get that, yeah, exactly. The ability will still be there i think that's just a reality and this could also be a first step for government to target other forms of payment that offer more privacy and restrict even you know they said cash you know it sounds like they want to keep cash there for a certain amount of time hopefully you know indefinitely or bitcoin but it could be a way for the government to kind of restrict you know people from using these other forms of payments the second downside here it's a

centralized system so there is a single point of failure which is not the case with bitcoin where blockchain information is stored on thousands of nodes i think the recent data I saw was like close to 50,000 nodes. So, you know, there could be half of them, three quarters of them that go offline. As long as there's still one remaining, the ledger information will still be there. And that's not the case with a CBDC. Now, increase, I think there's, I'm not saying this as news to anyone, but increased polarization increases the risk of this technology being used against citizens who don't share the same views as the government in power. You know, I don't think necessarily this is an immediate risk. But if you look at China, China is also developing its own version of a CBDC called the digital yuan.

China is also developing its own version of a CBDC called the digital yuan. And, you know, a lot of people think they'll just use that to survey their people even more intensely. And one thing they could do, especially I'm I would not be surprised if China would do this. And I actually fully expect them to do things like that is you can essentially lock out someone of the whole financial system with this if it becomes the only form of payment. So if you have a dissident in China who doesn't agree with the CCP, they don't have to lock the person up. They can just block them completely from the financial system and make their lives a living hell essentially. and make their lives a living hell, essentially. Dude, my first thought when I see something like this is,

you can't see it right now, but there's a tinfoil hat that sits on the top of my head that grows one layer of tinfoil from the kitchen cabinet with every word you say. And it grows taller and taller until I become a hardcore conspiracy theorist with all of this stuff. Yeah. How can you not? No, I mean, it's really hard to not to.

I'm just trying to, like I said, I'm trying to do as balanced as I can. ought to. I'm just trying to, like I said, I'm trying to do as balanced as I can. I mean, the last risk here is one that we are seeing right now is it could just make inflation worse because fiscal stimulus, it's been shown to be one of the leading causes for inflation. Obviously, there were other causes, but it's not just the fact that the money supply was increasing. It's the fact that governments were spending globally, sending money directly to their population, and then people were just spending on goods and services. And obviously, if the demand outweighs the offer being out there, the supply, then it creates inflation. And having this more efficient method, it could potentially open the floodgate, right, depending on what government is in power. But that's something to keep in mind where there's a risk it could just

make inflation worse because it just makes it way that much easier for governments to send money to their citizens. So, I mean, in the end, I think personally, I'm not really in favor of that. I just think there's a lot of risk. However, they want to make it private and however good their intentions are, they may have the best of intentions, but you don't know who's going to be there in 10 15 20 years and it just takes a small group of individuals that don't have the best of intentions the tools are already in place and then it could have some really bad consequences did you hear that simone can you hear that That's the sound of one more strand of aluminum foil on the top of my tinfoil hat. my disdain for some of the big Canadian banks in how bureaucratic they are, how slow they move.

And just why do I have to go to a branch to do something that you can click a button on your side? Like that's the way I think about most of these things. Thank God for EQ Bank, not as a sponsor, but literally making these guys have to think about innovation. These large public companies are very bureaucratic with the financial universe in Canada. If we shift that to government, dude, it can't get more bureaucratic. I don't want more. I don't want more bureaucracy. It's already, I already have it too high, uh, in the way that things are today. And you know, it's Thanksgiving dinner here, you know, no religion, no politics, but there's going to be more bureaucracy. If you have politicians running this thing, like it's not, it's not on my wishlist right now. Um, and, and I have a lot to still think about this i'm

just mostly learning about it for the first time and i'm sure that there's some pros and some cons but if you look at incentive structures and the this being delivered efficiently if large public companies with incentive structures that they have here today in canada are very bureaucratic and very slow. You know, politicians are like, ding, ding, ding, ding. I got something to say about it. I can make it worse. And that's my concern here overall, just more so in just the actual execution and rollout here.

I have no, no confidence that it's good, that it's done correctly. That's my main concern. And I mean, we we'll see i think obviously i encourage people it's a public consultation whether they actually take the feedback or they already they're just doing it as uh you know to to show that they did it and they already know what direction they're going i really don't know i'm gonna hope that they will actually listen to the feedback but there's. But there's definitely some risks, I think, that are there. We'll have to see. But I hope that at least people are able to get a better balance. Whether you think it's a positive more than negative, that's fine. You don't have to agree with me. I think there's more negatives, personally. Or at least, I think the

negatives outweigh the positives. But again, I wanted to talk about that because trust me, anyone doing the survey will see that they make it seem like there's no negatives. And unfortunately, that's just not true. As do-it-yourself investors, we want to keep our fees low. That's why Simone and I have been using Questrade as our online broker for so many years now. Questrade is Canada's number one rated online broker by MoneySense. And with them, you can buy all North American ETFs, not just a few select ones, all commission free so that you can choose the ETFs that you want. And they charge no annual

RRSP or TFSA account fees. They have an award-winning customer service team with real people that are ready to help if you have questions along the way. As a customer myself, I've been impressed with Questrade's customer service. Whenever I call or email, every support rep is very knowledgeable and they get exactly what I need done quickly. Switch for free today and keep more of your money. Visit questrade.com for details. That is questrade.com. Here on the show, we talk about companies with strong two-sided networks make for the best products. I'm going to spend this coming February and March in an Airbnb in South Florida for a

combination of work and vacation and realized, hey, my place could be a great Airbnb while I'm away. Since it's just going to be sitting empty, it could make some extra income. But there are still so many people who don't even think about hosting on Airbnb or think it's a lot of work to get started. But now it is easier than ever with Airbnb's new co-host network. You can hire a local quality co-host to take care of your home and guests. It's a win-win since you make some extra money hosting on Airbnb, but can still focus on enjoying your time away. Find a co-host at airbnb.ca forward slash host. That is airbnb.ca forward slash host. Let's switch to the Compounder Bro checklist. Sorry, should I say watch list?

Founder bro checklist. Sorry, should I say watch list? Now, 13F filings have just come out for most large asset managers. So for those who are unfamiliar, I need a quick refresher on 13F is, by definition here from good old Investopedia, the Securities and Exchange Commissions, aka SEC, Form 13F is a quarterly report that is required to be filed by all institutional investment managers with at least $100 million in assets under management. It discloses all their equity portfolio, also all equity holdings, and can provide insights into what smart money is doing. Now, that's a quick refresher if you're new to the show on 13Fs. And if you're new to the show, welcome to the biggest investing podcast in Canada. You heard it right. Now, large money managers over 100 million in assets must report their equity holdings every quarter. But note, this is just capturing US securities. So if it's me and I own over 100 million US stocks and I disclose my equity holdings each

quarter, it won't capture Constellation software. It's not dual listed and it's purely listed on a Canadian exchange. If it is dual listed, it will be included. So Brookfield would be included. So there's some slight nuance here. If you're in the US and just investing in US stocks, we probably don't care. But for here in Canada, that's something to consider. Now, shout out to Green Chip Capital on Twitter, who assembles this list every quarter. And he's come up with a list of high quality compounder type investors. Some of those names come to mind are Acquery Capital, TCI Fund Management, which is not to be confused with the Canadian Investor Podcast, but it's actually the Children Investment Fund out of the UK done by Chris Hone.

It's a gigantic fund. They were the activists in the CN Rail Fund too. Oh, yeah. Okay large very very very large shareholders uh other names in here markel fund smith by terry smith giverny uh by francois rachon who's from quebec so some of them out rush more more of quality Compounder investors. So that's why I'm calling it the Compounder Bro checklist here or watch list. These are the 20 names in order from the least overlap to the most overlap. Of those 13 F filers sampled, these names have at least four funds that hold the stock.

So I'll go from least widely held to most widely held. And the most widely held stock, which I'm going to get to, is owned by 18 of the 20 funds surveyed, which is pretty remarkable. So you have to keep listening to find out what that one is. All right. First up, we have Intuit. So that is the owner of QuickBooks, TurboTax, MailChimp, those names. S&P Global, ticker SPGI. Taiwan Semiconductor, ticker TSM, UnitedHealth, ticker UNH, Salesforce, ticker CRM, Netflix, Transdime, ticker TDG, Thermoa, aka Facebook, Nike, Schwab, which is interesting. We'll see how this one changes because I know a lot of people are running for the exit on Schwab and Ally for very obvious reasons. Now, we have extreme overlap in some of these names, Moody's, MasterCard, Amazon, Microsoft, Google, and sitting alone at the most widely held compounder bro stock,

Visa, Tigger V. That's a pretty good basket of names some some certainly things to think about but i mean as a as a basket as a bucket yes it's a lot of mega large cap names but it's a lot of high quality here yeah i mean i don't have too much to add there i mean it's just a lot of the companies that people know uh not surprising, right? Some, a few head scratchers on there. But yeah, especially, almost like a Berkshire, I do wonder, right? They're supposed to be, you know, professional managers for the most part. And then they're buying a stake in someone else who's like, I would would consider you know buff buffett a professional manager as well and that's always interesting to see berkshire that that pie up i mean i think it's

a fine company to own and i have a lot of respect for buffett and munger and i think it's is it todd yeah you're saying you're like it's kind of of like hiring a manager. Yeah, exactly. It's just, yeah, I just find it. Yeah, exactly. A manager hiring a manager. I get the sentiment. I agree with the sentiment. But if you look at all of the privately held businesses inside of Berkshire, it's, you know, BNSF, Geico, the insurance businesses. yeah bnsf geico the insurance businesses they're you know they're they're stakes in all those public equity positions that are gigantic and take long time to accumulate uh yeah it's definitely

more financials and energy i think yeah that sums up most of the berkshire portfolio energy berkshire energy is now one of the largest uh uh generators of of wind power in america so yeah i mean that that's the only one um i'm sure a lot of them also probably have some exposure just to uh like a s&p 500 index so um it doesn't show up here but i wouldn't be surprised right yeah some of the very in concentration right you look exactly you look like nick sleep a very famous investor he owns three stocks you know he's a 13f filer and it's three stocks it's costco amazon and uh gosh i'm forgetting um there's a third name there but mega caps basically do we do the gold segment? I think we have time.

Yeah. Should we do it? Yeah, I think so. I hear that we might be up against time, but... Yeah, I think we're good. Do you want to save something for next... Let's save it for next week. Let's save it for next week.

It's going to be a shorter episode, man. The kid is... Getting tired? The kid's washed up today uh let's save for next week and give this another opportunity the whole talk about cbdc just drained me i was like i think that's when you wrote in the document like oh let's just do it next week still have to figure out the cbdc thing wearing a tinfoil hat is heavy, dude. That's fair. Think about, you know, the time you're going to save on your notes next week with the gold exposure. No, no, that's fair.

But for those wondering, so next week what I'll do is the segment I was planning is just talking a little bit of why people want to own gold and then different ways to get exposure to gold. So if you want to hear about that, stay tuned, tune in for the next episode. You're just chomping at the bit. You're chomping at the bit to give up the segment. Next week on the Canadian Investor Podcast. Well,

you know what? These are the things that you can expect here on the show. We are here Mondays and Thursdays. If the tickets are not already sold here on the show uh we are here mondays and thursdays if the tickets are not already sold out by the time we're recording this check the show notes we are hosting an event on july 7th in toronto there might be a few tickets still lying around i'm not sure if there is uh they won't last long this is the second time we're talking about it with the actual ticket link so snack those snack those snack that's not the right word snag snag snap snag snap them up

uh whatever the correct word is go and grab them because uh they will sell out fast and there will not be extras so that is the link in the show notes. I feel like at this point, people are like, oh, I should have tuned off like about three minutes ago. I can ramble about some random crap for another 10 minutes if you want. It's just not going to be about gold. Last thing. It's just not going to be about gold. How about those Leafs? Well, and also that there's no Canadian hockey teams remaining.

No Canadian hockey team. Yeah, we should have left with that. The Cup will not be coming home. No, and what do you think they're going to do? Are they going to get rid of someone from the core four? Yes. Well, not Tavares. He has an immovable contract.

Yeah. He's not a young lad. He's got the worst deal and he's an unsellable asset um guys that i think will probably go will be one of nylander marner matthews i'd like nylander to stay i'd like matthews to stay i like mitch i like regular season m. And that's about it. I don't love playoff Mitch Marner. I try not to take too many sample sizes of any sort of, as an investor, I'm not quick to judge someone personality-wise off one interaction. And I'm not quick to judge a player off one interaction and i'm not quick to judge a player off one interaction it hasn't been one we've seen enough of you play off mitch marner and it isn't it yeah and i mean to their defense i

think um i was listening to an interview from the montreal canadian gm not too long ago and one of the things i think with montreal and and Toronto is it's a very pressure intensive market, right? And not everyone can really deal with that. And, you know, I don't know how I would deal with that in their situation. Like people think, oh, they make $11 million or whatever it is, they should be able to deal with that. I mean, it doesn't matter the amount of money you make. It's either your temperament or not. And I think one thing Montreal is trying to gauge is when they draft younger players and they trade, they really try to gauge how they will be able to manage the fishbowl that is Montreal. And they put a lot more value on that.

And I think it's just probably Toronto as well. It's just a good example. If you're playing in the U.S. in some markets, it's great. You're making tons of money. You might be in Florida. You know, you play your game. Fans love you. And then you go on the beach.

No one knows who you are. You live your normal life. I mean, a lot of people like that kind of stuff. So that's just my two cents on that. Yeah. Yeah. And it's a valid two cents. I mean, look at who's winning cups, who's not winning cups.

And when's the last time we had a Canadian team win the cup? Is it 04? Yeah. Or even like pressure-filled markets in the States. Wait, was it 1993? Yeah, because the the flames lost in 04 and uh yeah so i mean you weren't even born right that's i was i was close i was yeah i was born in 95 and uh i've never seen a canadian win the Stanley Cup. One day.

Yeah. I mean, there's obviously something to it. I mean, look at the data. I mean, is it a large enough sample size? Back to the sample size thing. You know, if you're constantly, and you just see the way they address the media, their guard's immediately up.

Whereas you watch the, you know, small town, or sorry, smaller market teams, the pressers are so different. They're not trying to get gotcha moments as much. And that changes the player psychology a lot too, right? Without a doubt. Exactly. And last thing on hockey is I think they're soon going gonna be a new ottawa senator's owner i think they um they have it down to like three groups and for those who love together a bid right what's that

uh ryan reynolds put together a bit no it's not going through they're not in the final three no no so with that bid with snoop dog is in the final three. I'm kidding. Yeah. Man Rocket, Ryan Reynolds, his bid's not going in? No, their group is not. Yeah, apparently the price is going to be around $1 billion. And I think one of the issues that some of the bidding groups had is Eugene Melnick's daughters that own the team want to keep 10% of the team. so the new buyers have to kind of you

know make it work within that plus yeah exactly accommodate that and one of the other requirements i guess that must have been one of his dying wishes is that they have to agree to never move the team from ottawa so that's um which you know maybe some prospective owners they may not want to move the team now but always want to have that option um so i think those are probably two of the things and obviously the price tag is probably the last last reason yeah yeah oh man well i didn't know that i was hoping that we'd uh uh, we'd get some, some Ryan Reynolds content, uh, for, for the Snoop dogs, maybe, uh, Snoop dog. I'll, I'll roll with the Snoop dog content that, that works. No pun intended. I'll roll. Hey, nice. Okay. Thanks for listening to

the Canadian investor podcast, the Canadian hockey podcast today. We really appreciate you guys listening. Buy tickets to the meetup if you haven't already. It's 30 bucks. It comes with beer, seltzers, drinks, food, non-alcoholic as well. And we'll do some Q&A. It'll be fun.

It'll be a really fun night. If you haven't checked out FinChat, I haven't pumped that lately. FinChat's a 72,000 users. You could be 72,001. That is at FinChat.io. We're on version 1.4 already now. And you can do screening. So you can do like provide a list of US stocks or provide a list of Canadian stocks that are growing this, doing that, have a market cap of between this threshold. You can turn language into a screening output if you're on the plus subscription. And that is really sick. I don't know if you've tried that.

Yeah, actually, I used it. I was doing a little bit of research yesterday. I always double check because I'm still a bit like, you know, I wonder, you know, because I've seen so many instances not necessarily finchad but the regular gpt um chat gpt and i was looking at um um the uh my god the name escapes me but it's ticker mpc um i'm trying to and marathon petroleum oh so marathon yeah i'm like my god i i don't know why every time i think

about them it's like i think metro metropolitan petroleum but it's marathon so npc and i was like i asked it a question regarding um summarizing its capex plan for the years you know the years to come in terms of what they had for information and it was surprisingly accurate because then i double check with the ir and no it's uh pretty impressive yes sir yeah yeah it's because we're feeding it those documents right yeah we're it's not like chat gpt where it's like hey go find this in your language model it's it's like we've we've provided that information and surfaces it and sources it so you can verify that it's factually correct too because that's so important right if you're if you're an investor you can't just go on a limb with like some hallucinated info no exactly that's not gonna fly man and and people are still gonna be look it's it's very nascent this technology in

terms of people actually trusting it. So we recognize that. And hopefully, you know, as we make it better and get more distribution and brand reputation that people do trust it. Yeah. And we'll see. I've been impressed. Yeah. Oh, thank you very much.

Well, go ahead and check that out. It's free at FinChat.io. If you want screening capabilities and more prompts per day, more than five a day, you can sign up for plus. It's only 20 bucks, so it's not going to break the bank. It's only 20 bucks. So go ahead and check that out. We'll see you in a few days. Take care. Bye-bye. The Canadian Investor Podcast should not be taken as investment or financial advice. Brayden and Simone may own securities or assets mentioned on this podcast. Always make sure to do your own research and due diligence before making investment or financial decisions.