Review of Shopify Inc.

JUL 17, 2025 - Given the strong competitive advantage of high switching costs and a tremendous addressable market. SHOP is expected to continue to grow at a healthy pace in the foreseeable future. The company has shifted its long-term growth strategy relative to giants like Amazon by only focusing on high-value-added, high-margin software solutions and divesting capital-intensive, competitive, commoditized logistics. Lastly, SHOP’s management has demonstrated a commitment to cost control recently, which we think could help expand margins significantly over time due to its business model with high operational leverage. The company continues to be a great long-term holding for growth-oriented investors. We are maintaining our rating of ‘A-‘.

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Enbridge Inc. (ENB $66.81)
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WSP Global Inc. (WSP $241.45)
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Descartes Systems Group Inc. (The) (DSG $128.11)
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Agnico Eagle Mines Limited (AEM $228.33)
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Shopify Inc. Class A Subordinate Voting Shares (SHOP $219.68)
- $219.68 P/E (TTM): 89.3X Cap: $289.89B
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Brookfield Corporation Class A Limited Voting Shares (BN $64.32)
- $64.32 P/E (TTM): 92.1X Cap: $144.91B
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Q: Similarly to the question asked by David regarding your Income portfolio, for B-E portfolio, what would be your top 10 stocks in the order you would buy. Based on anticipated total return (dividends + stock price increase) for the next five years expectations. I would also appreciate if you could add to these stocks your return expectations and risk ratios on the scale of 1 to 10, with 10 being highest. Thanks.

Read Answer Asked by Michael on December 04, 2025

Shopify Inc. Class A Subordinate Voting Shares (SHOP $219.68)
- $219.68 P/E (TTM): 89.3X Cap: $289.89B
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Q: SHOP had a breakdown/glitch in their system yesterday that caused the stock to tank. This is probably the achilles heel of systems like Shopify. Reliability is so important. What impact do you see it having? My take is its news today but will be forgotten tomorrow if remedial action has been taken and they assure clients and the market it's now under control. Is this similar to your take?

Read Answer Asked on December 02, 2025

Royal Bank of Canada (RY $226.45)
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Toronto-Dominion Bank (The) (TD $122.15)
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Bank of Nova Scotia (The) (BNS $99.39)
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Sun Life Financial Inc. (SLF $81.10)
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TELUS Corporation (T $18.54)
- $18.54 Cap: $28.94B
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Constellation Software Inc. (CSU $3,336.47)
- $3,336.47 P/E (TTM): 75.52X Cap: $70.47B
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Dollarama Inc. (DOL $201.94)
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Intact Financial Corporation (IFC $274.76)
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Fortis Inc. (FTS $70.16)
- $70.16 P/E (TTM): 20.25X Cap: $35.72B
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Descartes Systems Group Inc. (The) (DSG $128.11)
- $128.11 P/E (TTM): 54.15X Cap: $11.02B
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Shopify Inc. Class A Subordinate Voting Shares (SHOP $219.68)
- $219.68 P/E (TTM): 89.3X Cap: $289.89B
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Savaria Corporation (SIS $21.62)
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Galaxy Digital Inc. Class A common stock (GLXY $36.15)
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Brookfield Corporation Class A Limited Voting Shares (BN $64.32)
- $64.32 P/E (TTM): 92.1X Cap: $144.91B
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Q: Hi. I have tried a couple times to submit this question now...

My kids have a family RESP. Oldest child will be starting post-secondary in 9 years.

Currently have GLXY, BN, SIS and T.
What will be good holdings to add to this? If sector diversification is not taken into consideration, what will be good to add?

Thank you.

Read Answer Asked by Jacquelyn on November 26, 2025