IFB145: Finding Great Balance Sheets with Braden Dennis

Announcer (00:00):



You’re tuned in to the Investing for Beginners podcast.
Finally, step by step premium investment guidance for beginners, led by Andrew
Sather and Dave Ahern. To decode industry jargon, silence crippling confusion
and help you overcome emotions by looking at the numbers. Your path to
financial freedom starts now.



Dave (00:36):



All right, folks, we’ll welcome to Investing for Beginners
podcasts 145 tonight; we have our good friend, Braden Dennis, back for another
show. He’s going to be talking to us from Canada. He is locked up just like we
are, but a, and he’s got some great ideas for us. And for those of you who are
not aware of Braden, for those of you who lived under a rock, Brayden works
with stratosphere investing. He’s also with the Canadian investor, which is as
of today, well I guess more recently is the top Canadian investing podcast in
Canada, which is awesome. So congratulations, Brayden. Thank you for coming
back on the show. And why don’t you tell us a little bit about what’s been
going on? What are your thoughts on all the fun with the market fluctuations,
shall we say? And the effects of coronavirus from your point of view.



Braden (01:24):



Fun is a good word that you just use to describe it.
Another one would be confusing. And the third one I might use is just
uncertainty is the name of the game when it comes to the stock market right now
and more than the stock market. Our lives are regular day to days are just kind
of in this whirlwind every morning when I open up my laptop working from home,
I have to check what day it is. I told Nolan the last time I was in a routine
where I just absolutely had no idea. So it is a weird thing, and it is
unprecedented in terms of history. This is a game-changer. And for me, the way
I think about it with my investments and my customers a stratosphere investing
is what are you learning about yourself right now with the Coronavirus
pandemic, what are you learning about how you react in a bear market?



Braden (02:25):



That self-awareness is key right now, and that alum lock
with how you should think about your portfolio in the future. And right now, if
you are panicked on the sell button, then you need to rethink the type of
companies you might hold and your style in general. If you’re just not able to
sleep at night, knowing that 25% 30% corrections in stocks are actually not a
new concept by any stretch. So although this, what we’re dealing with right now
is unprecedented, and his historic mortgage drops are not. So you have to take
a step back, take a little bit of, you know, self-awareness. And for myself,
quality, quality, quality, quality businesses are the ones that you will be
able to look in your portfolio and go; I know that this company in five years, ten
years, 20 years, we’ll continue to be a great free cash fl...