Investment Q&A

• Intuitive Surgical Inc. (ISRG $472.16)
  • $472.16 P/E (TTM): 59.99X Cap: $167.67B
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• Dollarama Inc. (DOL $194.75)
  • $194.75 P/E (TTM): 41.35X Cap: $53.31B
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• Celestica Inc. (CLS $362.26)
  • $362.26 P/E (TTM): 37.14X Cap: $41.64B
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• Transdigm Group Incorporated (TDG $1,214.66)
  • $1,214.66 P/E (TTM): 39.08X Cap: $68.59B
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• Axon Enterprise Inc. (AXON $496.18)
  • $496.18 P/E (TTM): 328.6X Cap: $39.89B
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• Berkshire Hathaway Inc. (BRK.B $490.03)
  • $490.03 P/E (TTM): 0.04X Cap: $1.05T
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• Heico Corporation (HEI $288.45)
  • $288.45 P/E (TTM): 57.01X Cap: $40.24B
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Q: Please rank the following from best to worst for a long term hold. Thanks

Upvote 14

Read Answer Asked by Ben on January 13, 2025

• Miscellaneous (MISC)
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Q: In general, how should Canadian investors consider adjusting portfolios in light of the tariff threat? Should they be reducing exposure to Canadian equities on a relative basis? What fixed income /cash alternatives should be considered?

Upvote 10

Read Answer Asked by Ian on January 13, 2025

• Abacus FCF International Leaders ETF (ABLG $29.86)
  • $29.86 P/E (TTM): 0.17X Cap: $17M
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Q: I have been trying to find research information in 5i questions and on my trading platform, RBC Direct Investing for TTAI - FCF International Quality ETF mentioned on the latest podcast, but I can't find it using the ticker or description. Can you help me with where to look? If this isn't an ETF that is available to me through RBC DI, is there a comparable ETF for international market compounders? Thanks!

Upvote 1

Read Answer Asked by Kim on January 13, 2025

• Eli Lilly and Company (LLY $985.08)
  • $985.08 P/E (TTM): 42.92X Cap: $930.72B
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• Novo Nordisk A/S (NVO $37.96)
  • $37.96 P/E (TTM): 10.67X Cap: $363.68B
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Q: Hi, what would you replace NVO with? Thanks and Greetings, Peter.

Upvote 2

Read Answer Asked by peter on January 13, 2025

• Brookfield Infrastructure Corporation 5.000% Subordinated Notes due 2081 (BIPH $16.10)
  • $16.10 Cap: $7.54B
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Q: Hi
Happy New Year
Could you have a look at this bond/corporate note and provide some feedback? I am wanting to add it to my US portfolio. I see that its end date is 2081? As well it can be redeemable as early as 2026? Could you confirm these dates as well. Thanks, Len

Upvote 3

Read Answer Asked by Leonard on January 13, 2025

• Celestica Inc. (CLS $362.26)
  • $362.26 P/E (TTM): 37.14X Cap: $41.64B
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• TerraVest Industries Inc. (TVK $132.91)
  • $132.91 Cap: $2.88B
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• Hammond Power Solutions Inc. Class A Subordinate Voting Shares (HPS.A $183.41)
  • $183.41 P/E (TTM): 27.13X Cap: $2.18B
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• WELL Health Technologies Corp. (WELL $4.09)
  • $4.09 Cap: $1.03B
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• Propel Holdings Inc. (PRL $17.60)
  • $17.60 P/E (TTM): 9.11X Cap: $692M
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Q: i've done well in 2024 with a number of 5i canadian small and mid cap picks such as CLS, PRL,TVK, WELL, HPS, etc.
I did similarly well with a number of picks in 2021 only to watch those gains evaporate in 2022.
I know 5i prefer not trying to time the market but i'm watching my 2024 winners trend down, some more than others.
I still believe in the fundamentals of my 2024 winners but if the market is trending down is there not some point one should step aside, take the profit and wait for a new or renewed uptrend?

Upvote 22

Read Answer Asked by Rob on January 13, 2025

• Meta Platforms Inc. (META $613.19)
  • $613.19 P/E (TTM): 26.13X Cap: $1.55T
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• NVIDIA Corporation (NVDA $180.25)
  • $180.25 P/E (TTM): 36.79X Cap: $4.38T
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Q: In follow-up to the Q&A on Howard Marks' recent memo, out of the current "Mag 7", which one do you think is most likely to be in the S&P500's top 20 companies in 20 years, and which one do you think is least likely to be there? Feel free to make two picks for each or decline to respond. I own 5 of the 7.

Upvote 3

Read Answer Asked by Barbara on January 13, 2025

• Vanguard U.S. Dividend Appreciation Index ETF (VGG $101.61)
  • $101.61 Cap: $2.25B
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• Vanguard U.S. Dividend Appreciation Index ETF (CAD-hedged) (VGH $69.17)
  • $69.17 P/E (TTM): 25.07X Cap: $922M
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• Vanguard Dividend Appreciation FTF (VIG $217.54)
  • $217.54 P/E (TTM): 24.38X Cap: $100.13B
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Q: Good Morning
Is there an unhedged version of VGH ?
Can you recommend any other unhedged ETF similar to VIG but listed in the Toronto Stock Exchange ?
Thank you

Upvote 4

Read Answer Asked by Terry on January 13, 2025

• Royal Bank of Canada (RY $221.47)
  • $221.47 P/E (TTM): 14.85X Cap: $309.28B
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• Bank of Nova Scotia (The) (BNS $94.38)
  • $94.38 P/E (TTM): 23.19X Cap: $116.32B
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• BCE Inc. (BCE $35.09)
  • $35.09 P/E (TTM): 5.27X Cap: $32.72B
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• Sun Life Financial Inc. (SLF $86.15)
  • $86.15 P/E (TTM): 14.01X Cap: $47.71B
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• Restaurant Brands International Inc. (QSR $99.71)
  • $99.71 P/E (TTM): 31.05X Cap: $45.72B
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• Northland Power Inc. (NPI $21.42)
  • $21.42 Cap: $5.60B
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• North West Company Inc. (The) (NWC $54.53)
  • $54.53 P/E (TTM): 18.61X Cap: $2.59B
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• Exchange Income Corporation (EIF $99.41)
  • $99.41 P/E (TTM): 33.58X Cap: $5.57B
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• Brookfield Renewable Corporation Class A Exchangeable Subordinate Voting Shares (BEPC $53.85)
  • $53.85 Cap: $7.88B
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Q: These 9 stocks were approximately equally weighted in unregistered dividend account before NPI and BCE took a big dive. The overall yield of the account is around 4.8% which I have been happy with, but the loss of capital in the 2 mentioned is troubling.

Objective of the account is to generate retirement dividend income for the next 5 to 10 years.
Other accounts provide pretty decent diversification by sector / geography / growth etc.


Question 1. Should I take the loss on these two and redeploy into the other holdings?

Question 2. Any glaring omissions in this account which you think I should add in here?

Upvote 8

Read Answer Asked by Jim on January 13, 2025

• iShares Russell 2000 Growth ETF (IWO $315.18)
  • $315.18 P/E (TTM): 22.36X Cap: $12.30B
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• iShares MSCI World Index ETF (XWD $107.03)
  • $107.03 P/E (TTM): 26.81X Cap: $1.43B
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• RBC Quant U.S. Dividend Leaders ETF (RUD $27.19)
  • $27.19 P/E (TTM): 20.73X Cap: $787M
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• Vanguard S&P 500 Index ETF (VFV $161.80)
  • $161.80 P/E (TTM): 26.01X Cap: $27.65B
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• State Street Financial Select Sector SPDR ETF (XLF $48.89)
  • $48.89 P/E (TTM): 16.77X Cap: $46.51B
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• Vanguard S&P 500 ETF (VOO $609.09)
  • $609.09 P/E (TTM): 26.2X Cap: $826.06B
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• Vanguard Dividend Appreciation FTF (VIG $217.54)
  • $217.54 P/E (TTM): 24.38X Cap: $100.13B
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• Vanguard High Dividend Yield Indx ETF (VYM $148.43)
  • $148.43 P/E (TTM): 19.6X Cap: $67.91B
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Q: I currently own a full weigh of the above listed ETFs and in light of President Trump's economic policies that are likely to benefit the financial sector, I'm looking at possibly adding XLF: US ETF to my US$ Non Registered account.


Q1. What would be your best idea for US$ ETF to add to a US$ Non Registered account at this time along with your rational for this choice?

Q2.What are your thoughts on XLF:US in terms of potential return for 2025 and the remainder of the Trump presidency?

Thank you and I look forward to your response.
Francesco

Upvote 4

Read Answer Asked by Francesco on January 13, 2025

• BlackBerry Limited (BB $4.57)
  • $4.57 Cap: $2.69B
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Q: Hello 5i Team
I have noticed that Black Berry stock has started to rise in price, is it because of improved fundamentals ? Is this a company that you would recommend for a 3 year purchase?
Thank you

Upvote 2

Read Answer Asked by claudio on January 13, 2025

• Brookfield Corporation Class A Limited Voting Shares (BN $52.71)
  • $52.71 P/E (TTM): 77.5X Cap: $118.35B
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Q: Hello 5i

If BN is the only Brockfield Group stock in a portfolio. As a diversified conglomerate, up to what weighting percentage can it be held without becoming a bet on a stock?

Thanks

Upvote 15

Read Answer Asked by Charles on January 13, 2025

• Brookfield Corporation Class A Limited (BN $38.37)
  • $38.37 P/E (TTM): 77.5X Cap: $85.70B
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Q: Given Fridays sharp pullback would you consider this an ideal entry point?

Upvote 15

Read Answer Asked by Kim on January 13, 2025

• Global X S&P 500 Index Corporate Class ETF (HXS $94.08)
  • $94.08 Cap: $5.64B
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Q: As a follow up to my question on January 8 regarding ETFs you suggested ZSP to represent S&P 500
Would HXS be a better alternative since there will be no withholding tax in the TFSA as per asked by Danny boy on January 10?

Upvote 2

Read Answer Asked by Indra on January 13, 2025

• OppFi Inc. Class A (OPFI $8.28)
  • $8.28 Cap: $704M
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Q: Can you please provide some feedback on OPFI? Is there a reason why there was a surge in price today? Thanks!

Upvote 1

Read Answer Asked by Neeraj on January 13, 2025

• Enbridge Inc. (ENB $74.28)
  • $74.28 P/E (TTM): 28.41X Cap: $162.10B
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• Andlauer Healthcare Group Inc. Subordinate Voting Shares (AND $54.97)
  • $54.97 P/E (TTM): 31.81X Cap: $2.14B
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Q: Thanks for your reply on the effects of Trump tariffs on various stocks I own . I will be doing a little re-balancing based on your answers . However you didn't opine on two on the list . ENB which I would suspect may be affected by a tariff on oil and AND which has both Canadian and American operations though I'm not sure of how much of each they have. Thanks again for your terrific service ......

Upvote 3

Read Answer Asked by Garth on January 13, 2025

• Goldman Sachs Group Inc. (The) (GS $782.21)
  • $782.21 P/E (TTM): 15.25X Cap: $232.12B
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• Morgan Stanley (MS $154.87)
  • $154.87 P/E (TTM): 15.17X Cap: $245.15B
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Q: Hi!

Regarding these 2 companies which one has more growth prospects, better value for 2025? Are they overlapping businesses or complimentary to each other? I have a nice gain in MS thinking about trimming and buying some GS.

Ok thanks!

Upvote 2

Read Answer Asked by Robert on January 13, 2025

• iShares S&P/TSX 60 Index ETF (XIU $47.70)
  • $47.70 P/E (TTM): 18.08X Cap: $20.57B
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Q: I am trying to understand how an ETF like XIU works. Does a shareholder actually own any stocks when they own this etf, or do they just own shares in a fund that tracks the TSX 60, but doesn't actually own the individual companies?

Upvote 4

Read Answer Asked by Maria on January 13, 2025

• Brookfield Renewable Partners L.P. (BEP.UN $41.47)
  • $41.47 Cap: $28.20B
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Q: I note that dividends from this firm may be subject to withholding tax.
Can you name any Canadian companies who pay dividends/distributions in US dollars, and who might NOT be subject to holding tax?
I would prefer it if you knew firms who pay in excess of 5% dividends.
Thanks!
Paul

Upvote 4

Read Answer Asked by Paul on January 13, 2025

• Hammond Power Solutions Inc. Class A Subordinate Voting Shares (HPS.A $183.41)
  • $183.41 P/E (TTM): 27.13X Cap: $2.18B
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Q: You have remained quite positive on Hammond.
Can you advise where their products are produced (I suspect most products for NA are produced in Mexico, therefore subject to any Trump tarries on Mexico, but I may be wrong).
Also do they have the capability of doing some manufacturing in the US

Upvote 7

Read Answer Asked by Robert on January 13, 2025