Following my October 2, 2024 post at which time the most currently available financial information was for Q1 2025, Paychex (PAYX) disclosed its intent to acquire Paycor HCM (PYCR) for ~$4.1B on January 7, 2025. PAYX expects to close this acquisition in April 2025. This impending acquisition makes strategic sense as it enables PAYX to expand [...]
Invest in a business any fool can run, because someday a fool will. Charlie Munger and Warren Buffett - Berkshire Hathaway Nike (NKE) is a good example of how poor leadership can harm even great companies! When John Donahoe was appointed as NKE's 4th CEO in January 2020, NKE called out his 'expertise in digital [...]
The world of equities consists of fuel generators and fuel suckers. I use this terminology to describe the types of companies that either fuel or hamper wealth creation. Both categories include companies that: distribute no dividend, or that have unimpressive dividend metrics; and have alluring dividend metrics. This is why it is so important to [...]
Morgan Housel’s The Psychology of Money – Timeless Lessons on Wealth, Greed, and Happiness is one of the thought-provoking books listed in the Books section of this site. Chapter 4 entitled Confounding Compounding touches upon why compounding can be difficult. The counter-intuitiveness of compounding may be responsible for the majority of disappointing trades, bad [...]
In times like this, it is no surprise many investors are experiencing some trepidation. Let them panic. You, however, should proceed knowing that corrections are healthy. Allow me to take you back in time to the mid-1970s when I was in high school. Several (most) of my high school courses never interested me. I never [...]
I last reviewed Veeva Systems (VEEV) in this December 6, 2024 post at which time the most current financial information was for Q3 and YTD2025. Unfortunately, Veeva is approaching fair valuation with the share price surge following the release of Q4 and FY2025 results after the March 5, 2025 market close. Let's have a look [...]
When I completed my 2023 year end portfolio review, S&P Global Inc. (SPGI) was my 8th largest holding. In early 2024, however, the Canadian Federal government introduced changes to the level of taxation on capital gains. This resulted in many Canadians having to seek professional tax advice. Following extensive discussions with our tax accountants, we [...]