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Episodes from Long Term Investing - With Baskin Wealth Management
Constellation Software's New Era
This week, Barry and Ernest discuss key learnings from the Constellation Software's annual general meeting. 0:00- Introduction3:52- Constellation Software backdrop 12:08- CSU's response to AI 25:50- CSU's acquisition pipeline34:15- Incentives at Constellation Software39:17- What would make us sell CSU?
The Greg Abel Era at Berkshire
Recorded on: May 6, 2026 This week, Barry and Ernest discuss the strong outperformance of AI-adjacent companies before discussing Berkshire Hathaway’s first AGM without Warren Buffett.0:00- Introduction2:14- High valuations for AI-adjacent names11:48- Google’s AI update 21:15- Apple’s strong results 24:49- Greg Abel at the Berkshire AGM 28:53- Berkshire’s capital allocation changes
TFI's trucking rebound
This week, Barry and Ernest discuss Tim Cook's retirement and legacy, smart share buybacks from companies, and TFI International's improving financial outlook.0:00- Introduction 2:12- Tim Cook's retirement and legacy 9:38- Reed Hastings resigning from Netflix's board14:11- Smart share repurchases21:46- TFI International's rebound
Fairfax: Fair and Friendly
Recorded on: April 22, 2026This week, Barry and Ernest break down their newinvestment in Fairfax Financial including the business model, similarities anddifferences to Berkshire Hathaway, and their strong track record inunderwriting insurance and growing shareholder value. 0:00- Introduction6:44- Fairfax's business model12:10- Disciplined insurance underwriting21:00- Fairfax's investment strategy28:58- Return expectations34:44- Key man risk for Fairfax36:30- Insurance industry risks
Quality on sale
In the latest episode, Barry and Ernest explain why business quality matters more than macroeconomics concerns and also provide an update on FICO and the rationale for selling CoStar Group last year. 0:00- Introduction5:51- Upcoming CUSMA renegotiation7:48- Business quality trumps macro 16:41- Outperformance of Domino's and Stryker21:05- FICO update28:06- Private credit worries for software 32:20- Why we sold CoStar Group
More market turmoil + A fair new idea
In this week's episode, Barry and Ernest discuss broader implications of the Iran conflict before breaking down a new addition to the portfolio. 0:00- Introduction2:12- Long-term implications of Iran 7:43- Low multiples for AI stocks 11:50- New addition to the portfolio14:54- Why FICO is a great business18:15- FICO's pricing power + industry incentives23:19- The housing cycle25:40- VantageScore competition
Market Turmoil + Restaurant Brands Update
This week, Barry and Ernest discuss the Iran conflict and long-term investing through market volatility before updating Restaurant Brands "Whopper" of a turnaround plan.0:00- Introduction2:20- Live Nation settlement correction4:52- Iran and market volatility15:00- Portfolio management in volatility19:20- Restaurant Brands update
Trust in Live Nation
This week, Barry and Ernest discuss the oil price spike, Constellation Software's earnings, and Live Nation's antitrust settlement. 0:00- Introduction1:25- Oil prices and Iran risks6:36- Constellation Software's earnings13:23- CSU's PEMS strategy 18:39- Live Nation's antitrust settlement
Netflix's $2.8b Money Heist
This week, Barry and Ernest discuss Netflix dropping out of the bid for Warner Brothers Discovery, and what's next for Netflix. They also break down CCL Industries's capital allocation and M&A opportunities.0:00- Intro5:32- Netflix drops out of Warner bid12:26- Netflix benefits from PSKY/WBD 18:15- How AI benefits Netflix20:47- CCL Industries update27:20- Greg Abel's letter
Moody's Solid Rating
This week, Barry and Ernest discuss a wide range of topics including the strong performance of Canadian oil stocks, why proprietary data is safe from AI, and Constellation Software's decision to host an earnings call. 0:00- Introduction1:49- Canadian oil stocks performance9:03- Tourmaline Oil's buildout12:40- TFI International's outlook 19:30- Portfolio management in a sell-off23:15- Moody's vs S&P Global31:25- TMX Group's risk from AI 33:08- Constellation Software earnings call
Charging to the Future
This week, Barry and Ernest break down Alimentation Couche-Tard's strategy from their Investor Day as well as an update to Ferrari's EV strategy.0:00- Intro2:41 - How we are reacting to the sell-off10:34 - Incentives with AI 14:30 - Alimentation Couche-Tard's IR Day 23:50 - EV experience in Norway26:08 - Ferrari's earnings
Big Capex for the Big Techs
Barry and Ernest are back and discuss Apple's strong results, Microsoft and Meta's mega-capex splurge, and Brookfield Asset management's new CEO Connor Teskey. 0:00- Intro7:20- Apple's record iPhone sales11:48- Apple's memory and chip constraints16:35- Microsoft's Azure miss20:10- Big tech returns on AI capex22:01- Meta's motivations for AI25:48- Brookfield Asset Management's new CEO