The Bank of Canada recently cut its benchmark lending rate, from 5.00% to 4.75%. More cuts seem likely as inflation continues to ease in the wake of the COVID-19 pandemic disruptions.


Lower interest rates will help make it easier for mortgage holders and other borrowers re-finance their loans....

MAPLE LEAF FOODS INC. $25 is a hold. The company (Toronto symbol MFI; Conservative Growth Portfolio, Consumer sector; Shares outstanding: 122.8 million; Market cap: $3.1 billion; Price-to-sales ratio: 0.6; Dividend yield: 3.5%; TSINetwork Rating: Average; www.mapleleaffoods.com) plans to spin off its pork processing business as a separate firm....

2024 is the fifth year in a row we selected CP Rail (now CPKC after its merger with U.S.-based railway Kansas City Southern) as your #1 Conservative Buy. If you bought the stock five years ago, at the start of 2019, you’ve enjoyed a 121% gain (excluding dividends)! Compare that to the 56% gain for the broader S&P/TSX Composite Index.


We’re even more excited about CPKC’s long-term prospects, particularly as it starts to realize the full benefits of the Kansas City acquisition....

A lot of change is now going on in the world, particularly in the area of U.S. politics and law—some good, some bad. I’ll say more about these trends in our next client letter. In my opinion, however, one of the most far-reaching and beneficial developments in U.S....

RXO INC., $26.77, symbol RXO on New York, is a provider of brokered transportation services in Canada and the U.S. The company offers tech-enabled truck brokerage services together with complementary solutions including managed transportation, freight
forwarding and last mile delivery.

RXO operates an “asset light” business model....

RESTAURANT BRANDS INTERNATIONAL INC., $69.61, is a buy. The stock (symbol QSR on New York) gives you exposure to the world’s third-largest fast-food operator. That’s after McDonald’s (No. 1) and Yum Brands (No. 2). The company has 30,125 outlets in over 100 countries: 18,935 Burger King, 5,662 Tim Hortons (coffee and donuts), 4,269 Popeyes Louisiana Kitchen (fried chicken) and 1,259 Firehouse Subs.

Restaurant Brands has announced two transactions in China: the acquisition of Popeyes China, and a co-investment with Cartesian Capital into the business of TH International Limited (“Tims China,” symbol THCH on Nasdaq).

The two transactions reflect Restaurant Brands’ confidence in China, one of the largest quick-service restaurants markets globally....

J.P. MORGAN CHASE & CO., $204.79, New York symbol JPM, is a buy.

Morgan is the largest banking firm in the U.S., with total assets of $4.09 trillion as of March 31, 2024.

With the April 2024, payment, Morgan increased your quarterly dividend by 9.5%, to $1.15 a share from $1.05....

BOEING CO., $184.83, New York symbol BA, is still a hold.

The company has agreed to acquire Spirit AeroSystems Holdings Inc. (New York symbol SPR), which builds the fuselages for the Boeing 737 Max jets.

Boeing spun off Spirit as a separate firm in 2005....

CGI INC., $138.29, Toronto symbol GIB.A, is your #1 Aggressive Buy for 2024.

The company is Canada’s largest provider of computer outsourcing services. It helps its clients automate certain routine functions like accounting and buying supplies....

Index funds are mutual funds that invest so as to match market-index performance....