The Archive
While companies involved in the AI investment cycle have been leading headlines and have benefited our portfolios, we continue to search for ideas across industries that we believe are mispriced. Fitting into this was United Natural Foods Inc (NYSE: UNFI), which was initiated in our small-cap portfolio in February of this year, at an average price of $38.
ReadThe U.S.–Iran conflict has paralyzed the Strait of Hormuz and idled roughly 20% of global oil and LNG supply, driving prices to levels last seen during Russia's invasion of Ukraine. While inflationary risks loom for U.S. and Canadian consumers, the disruption reinforces North America's position as a critical and stable energy provider.
ReadAs markets continue to notch new all-time highs in both the U.S. and Canada, the tariff limbo we endured in April feels like a distant memory—despite being only eight months behind us. As long-term investors, our job extends beyond identifying attractive opportunities; it includes reminding clients that the strong returns we strive for can only be captured by those who stay invested. The chart below offers a clear reminder of the remarkable turnaround we have witnessed in 2025 as solid fundamentals ultimately overpowered tariff-related concerns.
ReadOn September 9 it was announced that Anglo American PLC has agreed to merge with Teck Resources, which is held in our Canadian equity portfolio. This transaction is one of the largest mining deals in over a decade, with the combined company valued at over $50 billion USD.
ReadIn early March, heightened concerns over U.S. tariffs triggered a spike in market volatility. Rather than retreating from the uncertainty, we viewed it as an opportunity to uncover high-quality businesses trading at compelling valuations—particularly those unlikely to be materially impacted by the shifting trade landscape.
ReadUBER pioneered the ride-hailing industry in 2010 and has become ubiquitous in our daily lives. But mobility is just one application in their eco system. UBER Eats, and a freight business are also contributors. And let’s not forget that they now have over 170 million users of their APP, where an untapped advertising stream of revenue awaits.
ReadThe financial services industry presents compelling opportunities, and one standout player, StoneX Group (SNEX), is well-positioned for growth. With strong market share, solid capital allocation, and favorable macroeconomic conditions, SNEX is a stock to buy.
ReadAugust 18th, 2020
ReadGoodreid Blog with commentary on the U.S. retail environment, consumer spending, and e-commerce giants.
ReadGoodreid Blog on Saudi Aramco IPO and it's relative comparison to the Canadian energy sector.
ReadInvestment Industry Commentary
Read