Investment Q&A

• Descartes Systems Group Inc. (The) (DSG $137.29)
  • $137.29 P/E (TTM): 59.9X Cap: $11.67B
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• TFI International Inc. (TFII $127.00)
  • $127.00 P/E (TTM): 21.79X Cap: $10.40B
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• goeasy Ltd. (GSY $204.77)
  • $204.77 P/E (TTM): 12.3X Cap: $3.27B
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• EQB Inc. (EQB $99.67)
  • $99.67 P/E (TTM): 10.35X Cap: $3.84B
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• Propel Holdings Inc. (PRL $31.54)
  • $31.54 P/E (TTM): 15.66X Cap: $1.22B
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Q: These companies have pulled back. what order would you buy these names? Is there any you would not buy?

Thank you
Tim

Upvote 25

Read Answer Asked by Timothy on March 05, 2025

• Royal Bank of Canada (RY $189.50)
  • $189.50 P/E (TTM): 20.44X Cap: $266.89B
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• Toronto-Dominion Bank (The) (TD $102.21)
  • $102.21 P/E (TTM): 10.41X Cap: $176.10B
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• Bank of Nova Scotia (The) (BNS $78.83)
  • $78.83 P/E (TTM): 16.47X Cap: $98.03B
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• Canadian National Railway Company (CNR $130.82)
  • $130.82 P/E (TTM): 18.0X Cap: $81.25B
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• Suncor Energy Inc. (SU $53.86)
  • $53.86 P/E (TTM): 11.42X Cap: $64.95B
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• Enbridge Inc. (ENB $66.55)
  • $66.55 P/E (TTM): 22.99X Cap: $145.29B
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• Canadian Natural Resources Limited (CNQ $41.46)
  • $41.46 P/E (TTM): 10.32X Cap: $85.84B
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• Canadian Pacific Kansas City Limited (CP $102.41)
  • $102.41 P/E (TTM): 23.12X Cap: $95.93B
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• Constellation Software Inc. (CSU $4,383.77)
  • $4,383.77 P/E (TTM): 107.5X Cap: $92.40B
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• Pembina Pipeline Corporation (PPL $52.47)
  • $52.47 P/E (TTM): 17.29X Cap: $30.30B
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• Alimentation Couche-Tard Inc. (ATD $70.05)
  • $70.05 P/E (TTM): 18.77X Cap: $66.58B
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• Brookfield Corporation Class A Limited Voting Shares (BN $88.39)
  • $88.39 P/E (TTM): 150.95X Cap: $132.96B
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• Brookfield Asset Management Ltd. Class A Limited Voting Shares (BAM $81.63)
  • $81.63 P/E (TTM): 41.1X Cap: $132.83B
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Q: I hold these large Canadian Companies.. I realize there will be continued volatility in the market but given that these companies have pulled back, some significantly, what order would you buy these names? Are there any you would not buy?

Please deduct appropriately…

Thank you
Tim

Upvote 32

Read Answer Asked by Timothy on March 05, 2025

Q: Hi 5i, in your response to Julie's question today on the economy can you provide key VIX and market levels, bond and stock, that would get you excited to deploy capital? Thx.

Upvote 28

Read Answer Asked by Christopher on March 04, 2025

Q: Now that tariffs are here, and Trump is playing hardball with Ukraine and the world, can you provide thoughts on what you think the markets, US and Canadian separately, will do? How far percentage wise might each drop? Looking for time horizons of up to 3 months, a year and then beyond. Realize this is new territory but 5i should have opinions.

Upvote 20

Read Answer Asked on March 04, 2025

• ARC Resources Ltd. (ARX $26.77)
  • $26.77 P/E (TTM): 6.27X Cap: $15.49B
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• Tourmaline Oil Corp. (TOU $57.31)
  • $57.31 P/E (TTM): 14.21X Cap: $21.35B
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Q: Hi 5i
1) What portion of NG is sold to USA versus LNG Canada (soon) and domestic consumption? 2) Canadian oil sands withstood negative oil prices for months - but it still flowed (and hence required condensate) - to what extent do you think Condensate (ARX/TOU) will be affected if there is reduced oil flow from Canadian oil sands. Thank you.
Glenn

Upvote 3

Read Answer Asked by Glenn on March 04, 2025

• Tamarack Valley Energy Ltd. (TVE $5.34)
  • $5.34 P/E (TTM): 11.17X Cap: $2.64B
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Q: Hi team,
What could be the implications for this company with Trump's 10% tariffs on Canadian energy? TVE is very profitable with oil prices at these levels but it's stock price has taken a hair cut over the last two weeks.Would it be "wise" to dollar cost average now or wait for the dust to settle?
Many thanks from a "not so happy shareholder"
Jean

Upvote 3

Read Answer Asked by Jean on March 04, 2025

• iShares Premium Money Market ETF (CMR $50.10)
  • $50.10 Cap: $1.94B
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• Global X High Interest Savings ETF (CASH $50.06)
  • $50.06 Cap: $6.81B
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• Global X 0-3 Month T-Bill ETF (CBIL $50.08)
  • $50.08 Cap: $1.72B
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Q: Hello I am 72 and fully invested in CDN and US equities. I am concerned about a bear market or a correction, and would like to reduce my equity risk.
Say for $250K , how would you invest between CASH, T-Bills, GIC, Bond ETF?
What are you suggestions?
Thanks
Carlo

Upvote 14

Read Answer Asked by Carlo on March 04, 2025

• Live Nation Entertainment Inc. (LYV $163.44)
  • $163.44 P/E (TTM): 55.22X Cap: $37.96B
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• Copart Inc. (CPRT $47.56)
  • $47.56 P/E (TTM): 31.45X Cap: $46.03B
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Q: Hello Team,

What are your thoughts on these two companies and which would be you favor if either as a strong compounder going forward?

Thanks,
Barry

Upvote 3

Read Answer Asked by Barry on March 04, 2025

• Vanguard FTSE Developed All Cap ex North America Index ETF (VIU $40.72)
  • $40.72 P/E (TTM): 0.79X Cap: $6.60B
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Q: Would VIU be a good proxy for global exposure without North America?

Upvote 5

Read Answer Asked by Gregory on March 04, 2025

• iShares Core S&P 500 Index ETF (XUS $54.91)
  • $54.91 P/E (TTM): 80.87X Cap: $9.35B
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• Invesco S&P 500 Equal Weight ETF (RSP $185.88)
  • $185.88 P/E (TTM): 64.62X Cap: $73.29B
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• Invesco S&P 500 Equal Weight Index ETF (EQL $39.24)
  • $39.24 P/E (TTM): 45.24X Cap: $1.42B
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Q: Is there an ETF of the S&P 500 without the 35% tech component?

Upvote 4

Read Answer Asked by Steven on March 04, 2025

• Celestica Inc. (CLS $251.25)
  • $251.25 P/E (TTM): 41.4X Cap: $29.19B
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Q: Is this a massive buying opportunity opportunity for CLS? Should we expect it to bounce back irregardless of tariffs?

Upvote 6

Read Answer Asked by Rob on March 04, 2025

• Genius Sports Limited (GENI $12.71)
  • $12.71 Cap: $3.03B
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Q: What are your thoughts on GENI earnings. Do you consider stepping in or wait until Tariff issues are resolved.

Thanks for the great service

Upvote 1

Read Answer Asked by Hector on March 04, 2025

• Kinaxis Inc. (KXS $194.93)
  • $194.93 P/E (TTM): 165.79X Cap: $5.48B
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Q: Kxs traded higher on good volume on a day most everything else was down. After seeing the recent Earnings are you more comfortable holding this company? Also what is the current forward P/E ?

Upvote 4

Read Answer Asked by Harry on March 04, 2025

• Allied Properties Real Estate Investment Trust (AP.UN $18.34)
  • $18.34 Cap: $2.33B
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• illumin Holdings Inc. (ILLM $1.52)
  • $1.52 Cap: $78M
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Q: Is ALLIED PPTy.is this a good reit.i have had it for 2 yrs and only down 4.70%. i also have ILLM HOLDINGS @ 5.10. I see Lumine mentioned often in questions are they related companies and what is 5i views let it go as a loser and buy something producing dividends I was thinking CAR.un as a substitute and additional reit. TKs

Upvote 1

Read Answer Asked by Guy on March 04, 2025

• Manulife Financial Corporation (MFC $41.63)
  • $41.63 P/E (TTM): 13.32X Cap: $70.89B
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Q: Any idea why MFC is taking such a hit today? I don't expect insurance companies to be down 5% in a day unless it's a broad market thing. I realize the market is down due to orange man but insurance shouldn't be impacted by tariffs and my GWO is up.

Upvote 3

Read Answer Asked by John on March 04, 2025

• ADF Group Inc. Subordinate Voting Shares (DRX $8.60)
  • $8.60 P/E (TTM): 5.12X Cap: $243M
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Q: Hi 5i,

I've read through your previous comments on the company and I was wondering:

1) What do you perceive as the key drivers to this company's performance?
2) What do you think explains the rollercoaster that the share price has gone through?
3) What should I pay attention to if I want to decide whether the company will right the ship and re-establish its momentum?

Thanks!

Upvote 2

Read Answer Asked by Blake on March 04, 2025

• Wesdome Gold Mines Ltd. (WDO $16.79)
  • $16.79 P/E (TTM): 10.06X Cap: $2.46B
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Q: What do you think of WDO's gold reserves. My not-very-well researched impression is that they have some very high quality ore but not much of it.

Upvote 2

Read Answer Asked by Jack on March 04, 2025

Q: Hi, could you list your 5-6 favourite sectors today. Also just wondering, do you see any signs of a sector rotation anytime soon? Or is it too hard to predict? Just checking cause Technology seems to have had a long and positive run, while Oil&Gas seems to have lagged for quite some time? ( I could be mistaken).
It seems to me when a sector falls out of favour it sometimes takes a long time to recover?

Upvote 3

Read Answer Asked by Brad on March 04, 2025

• Brookfield Corporation Class A Limited Voting Shares (BN $88.39)
  • $88.39 P/E (TTM): 150.95X Cap: $132.96B
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Q: Anything specific with the strong decline of BN recently

Upvote 6

Read Answer Asked by Kim on March 04, 2025

• Olympia Financial Group Inc. (OLY $131.32)
  • $131.32 P/E (TTM): 13.45X Cap: $311M
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• ODDITY Tech Ltd. (ODD $59.75)
  • $59.75 Cap: $3.25B
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• ClearPoint Neuro, Inc. (CLPT $10.29)
  • $10.29 Cap: $328M
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Q: Would appreciate your thoughts on the recent results and outlooks. Thank you.

Upvote 2

Read Answer Asked by Paul on March 04, 2025