Summary This high quality Canadian insurance company has grown successfully through multiple acquisitions and is now one of Canada’s largest P&C insurance companies (~17% market share). Growth opportunities in Canada are limited in that the top 5 P&C insurers in Canada have a 48% market share. In 2017, it expanded into the US market but [...]
Summary Cisco has shifted to more of a software and subscription-based offerings is resulting in more revenue predictability. It has an extremely strong balance sheet and generates significant FCF on an annual basis. An investment in Cisco offers investors the opportunity to have exposure to the technology sector without having to assume the potential of [...]
Summary This company has more than doubled its annual revenue since FY2015. Growth is being generated primarily from the US, as opposed to Canada, subsequent to the completion of a very significant acquisition in 2016. The company will be incurring significant CAPEX over the next few years. As a prudent measure, the historical dividend growth [...]
Summary Majority ownership in this company is held by one of Canada’s top 100 wealthiest families. This company has generated a 12.7% compound annual growth in net equity value since inception (1969). The company’s stock price is ~61% of net equity value per common share. The strategy is to accumulate shareholder value through long-term [...]
Summary This company recently released its Q4 and FY2018 results and Mr. Market responded with a +11% increase in the company’s stock price. The Board approved a 33% increase in the annual dividend and the dividend’s compound annual growth rate since going public in 2007 is ~33.6%. Diluted EPS growth of 12% - 16% is [...]
Summary Stock screeners have shortcomings which can result in investors overlooking opportunities. This company was founded in 1898 but only went public in 2002. It operates in a highly competitive industry and faces considerably regulatory scrutiny. Investors seeking to minimize credit risk will likely find this company to be appealing. This stock is certainly not [...]
Summary This company has tested long-term investor patience over the past 3 years. Management has 5 strategic priorities, one of which is a simplified corporate structure. These initiatives are in various stages of progress and once completed should result in improved shareholder returns. Shareholders are rewarded with an attractive dividend that is well covered by [...]
Summary This company may not be a household name but it is building on more than 60 years of experience. It was part of a much larger pharmaceutical company but was spun off in 2013. Its acquisition strategy and new product development provides potential for growth in a multi-billion dollar global animal healthcare market. While [...]
Summary CNR is one my top 15 holdings overall (within and outside the FFJ Portfolio). CNR’s relationship with certain segments of its customer base took a severe hit late 2017 and early 2018 which led to the ousting of CNR’s CEO. Under the new CEO, CNR has taken significant steps to repair these relationships of [...]
Summary Skip excitement when it comes to investing. Hold shares in dependable companies with competitive advantages such as this company. Markets are irrational in the short-term. ~$4.83B in market value was lopped off this company’s market cap the morning of July 24th but that was fully recovered by the end of the trading day. Shares [...]
