TLDR How Canada's Warren Buffett Invests
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Jan 29, 2025 Anis Heydari, Senior Reporter for CBC News, sheds light on Canada’s pressing immigration policies and economic implications. He discusses how tightened immigration affects housing costs and the labor market. Listeners will be intrigued by the revelation of Constellation Software as an investment powerhouse and the contrast in strategies used by Canadian CEOs compared to larger firms. The conversation also tackles the housing crisis amidst population growth and the influence of U.S. regulations on Canada’s auto industry.
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Constellation Software's Success
- Constellation Software, a Canadian company, has outperformed most public companies since 2010.
- It's among the top 10 most valuable Canadian companies, exceeding Shopify and Bombardier in annual sales.
Constellation's Business Model
- Constellation Software operates as a conglomerate like Berkshire Hathaway, acquiring smaller, niche software companies.
- Unlike Berkshire, which makes large acquisitions, Constellation focuses on vertical market software, serving specific industries.
Canada's Immigration Policy Shift
- Canada revised its immigration plan, reducing the number of permanent residents for 2024 and 2025.
- This decision will decrease Canada's population by only 0.2%, a rare occurrence.