Happy Thanksgiving! This is a big episode, it took a bit more time to prepare. If you appreciate the effort hit the thumbs up button and it wouldn't hurt to subscribe to the channel. We're very close to 100k. Hope you have a wonderful week! Join the Patreon today: www.patreon.com/josephcarlson Patreon includes: 🎥 Over 100 exclusive videos, and new ones every week. 🚀 Full access to Qualtrim.com, the stock analysis website I built from the ground up 📚 Transparent portfolio updates, with every buy and sell I do, as well as monthly one-pager updates. 💬 Access to the Joseph Carlson Show private discord community, with 4,500 members Try it out with a risk-free trial!
You are right . But beware of babies that exploit robotic technology like TGL. The latter has created a futuristic platform, completely managed by robotic machines, to manage and maximize the e-commerce earnings of the giant Tik Tok. Virtual machines could soon dominate
They aren't as bad as Twinkies, but there's pretty good evidence and general consensus that an optimally healthy diet is Mediterranean style with guidelines for about 4oz per week of red meat. Of course, a million different influencer personalities will tell you as many differentthigs, that carnivore is best, or keto, or Paleo, but the best evidence suggests steak is not particularly good for you, especially served at a steak house that's trying to control costs.
His passive income portfolio would be very similar to something like SCHD or VIG (dividend growth funds), or quality-tilted ETFs like MOAT or QUAL. It is a good style, but in my opinion, I still think a market weighted portfolio would outperform. There are many risky small/large cap value stocks that are at historic extreme levels of cheapness relative to the high quality growth companies Joseph prefers. A broader market rally would likely see them outperform greatly from here. Quality has done its job of not totally crashing/burning in a bear market, but it also limits upside.
I think it has a better product but as a company it has one big disadvantage that I have seen. That the ROCE OF AMEX is a lot lower than that of MA and V. And at the end of the day higher consistent ROCE leads to higher long term returns
Hey, great video but something has often puzzled me in your videos. When you show gains from the M1 finance, it says 49% gain in MA for instance, but how does that number make sense when the total invested amount is 65k and gains are 7k?
Been an investor for over 25 years so I’ve seen ups and downs. I don’t like all your investments (the railroads for example) but I really like your strategy and mindset overall and enjoy your videos.
I keep thinking about following into the railroad idea, but I don’t have any personal knowledge of the industry. It seems logical but I don’t have any personal experience of the business so I I am holding out for now. If the price drops any lower I think I would like to do some serious research of the risks and norms of the industry.
@@stevetop5970feels like rails are more of the past. I know they have pricing power and efficiencies over other means of transportation but I don’t see much potential growth in terms of news rails being built. You see abandoned railroads everywhere and people develop that land for residential and commercial use.
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Rebecca Hickman
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, i'm in my fifth trade with her and it has been super.
Your portfolio is as you say, bulletproof, I feel your portfolio setup will be market beating for many many years if not decades to come. Awesome stuff as always Joe!
Joseph I think you should structure these PowerPoint type videos so your face cam doesn’t block some of the words. I see you move the face cam a few times but it would be better if it were out of the way entirely. Love your videos keep it up 👍🏻
Joseph, I'm amateur and have a question regarding CP. In long term perspective, it is underperform SP500 or is quite close to it (if i'm not wrong). Does it make sense to 'play' with CP instead of just buying VOO/SPY? Thank you
super portfolio! if you'd consider a health company, which would it be: UNH, ISRG, MTD, TMO, NVO, LLY or other? i think UNH and TMO are good candidates (i have them in my portfolio) and i'd like to add ISRG, at a lower price...!
I analyzed UNH recently and the only problem I saw is that it's ROCE is not as big as the one I'm looking for. But the valuation and fundamentals look great!
@Joseph, as a long term follower, I think you should combine the 2 portfolios. It doesn't really make sense to have the same stocks (like Apple and MSFT) in 2 different portfolios and "treat them differently" so to speak. My 2 cents :)
I think all companies in passive income portfolio pays dividends. That's one of the key components long term. So two channels and portfolios are fine :)
@@jmcauhy I don't need two portfolios to justify another youtube channel. I could come up with plenty of content with just one portfolio. The portfolio's are a bit different, Passive Income is up 23% YTD (as of today), Story Fund is up 63% YTD. So the performance and concentration is quite a bit different. The Story Fund right now is going to be decided on Amazon and Netflix Primarily. I think I want to see it through until 2025. In terms of Performance. The Passive Income account did about 2% better than SPY in 2022, YTD Passive Income is up 23% while SPY is up 20% total returns. So it's had slight outperformance over the past two years, but that's not enough time to be statistically significant. The Story Fund was off to a terrible start with a few bad moves on my part. But it's now within 2% of SPY (as of today), and has pretty strong momentum over the past 6 months. Whether I manage these portfolio's separately or together, I can end up calculating the aggregate performance at the end of 2025 to get a better idea.
Best of Skills on your investments.. . Long-term = Wealth Creation. AI sector stocks keep beating on Earnings and delivering the Gains. * SOUN.. 35 % month.. SoundHound. $ 342 mil in Backlogs/ 219 Institutional Investors..* BBAI 38 % mth...* NVDA Up 16 % mth...* IDAI Up 12 % mth...* PLTR Up 26 % mth.. Thumbs UP video / comments... Thanks.
80% equities 20% cash. I plan to take advantage of the next market downturn where s&p 500 will drop below 15%, the issue is how to properly allocate a $1m stock/bond ratio for steady gains, yet indicators are playing a trick on us with the ongoing rally.
Intuit . Love it how blind investors always find excuses why stockbased compensation aren’t that bad . Every year you get diluted but who cares . Instead of getting a dividend you loose everytime and need to hope that the companie still grows to outpace that shit . What happens when grows Stopps is shown at PayPal . On the other hand their are companies like railroads who don’t even grow much but because of moat , high margin and dividend + stock buyback , you earn a lot even with no grows. Now think what would happen to Intuit if they don’t grow 20%+ every year but 9%. While having 4% stock based compensation and 3% inflation . The only people who earn really money in that case are intuit management and workers .
The Chipotle restaurants in my area, (Northern Virginia) stopped offering steak as a selection around 2 yrs ago and that's when I stopped going, but a few months ago I went back in and noticed that the Steak was back on the menu. so now I'm wondering why the changes?
@@JosephCarlsonAfterHours ok but is the same thing for real like what just give it someone else because it's nit fair for the other person sounds dumb to me still
Omg, Joseph! I just noticed that you are wearing the exact same Depeche Mode hoody that I am wearing right now. Awesome!! I can’t stop wearing it, as it is so damn comfortable. 😎
A major component that I need to know about your portfolio is your avg cost in these stocks yes your portfolio is amazing and your doing amazing but these stocks right now are expensive if I buy these stocks today I would not make the same gains as you I tried to be patient and scroll thru but you only showed the company’s financials not your avg cost you showed how much you owned which is good but not knowing what price you got in on these stocks is kinda dangerous for someone just watching your videos without knowledge of price is everything can you please help
I don’t understand why you think you can match the returns of another investors portfolio. If you’re trying to copy another’s portfolio then you will always be behind, if you make your own investments, you may achieve higher returns than another investor. But by definition you can’t really keep up with anyone if you’re choosing to follow. You really can only outperform or underperform.
He says he is holding on some of these company's meaning he isn't buying more right now because everything is kinda expensive. The railroads and maybe vici are the only fair/under valued from his port. Trust your gut you were right to think everything is expensive. I'm DCA into a couple etf's and just building my cash for a couple months at a time waiting for a price to fall.
@@MrCococdanot wanting to copy any investor just trying to learn smart investors thought process on price targets of very good companies I’ve bought way to high on really good companies and my research is correct but learning intrinsic values of companies is important to me my portfolio is very small like 9 tho and gains are ok but but nothing over 100 bucks and only one in the red but only 2 dollars so I believe I bought to high none of these companies are in my portfolio but I’m still learning and it would be very useful to see ok he bought that stock at like 90 a share well it’s 400 now so ok he had to wait really long time for a pullback what made him say 90 was ok to get into that stock and why 90 was a good price and was ok with that price
@@Thenumbers1686 Do not trust your instincts . learn how to trade with discipline. Joseph took two years to acquire 475K to invest it’s all down to discipline and investment goals. Start from the beginning
S&P 500 is Up and will do better in 2024, as indicators for profits continue to improve, making investors like me believe that “Santa has come early” to the markets. How to boost a $250k portfolio in order to achieve 7-figures would be appreciated, I only have 5 years to retirement.
wow massive gains! my partner recently hinted on going same direction.. what did you invest in, and who is your investment advisr please, if you dont mind me asking? in dire need of asset allocation
Impressive original analysis Joseph. Have you considered AXP for your passive portfolio? I have both AXP and MC but like AXP at its current stock price better. I also like CNI over CP right now ( I hold CP and UNP but recently initiated a position in CNI). The AAPL/MSFT/GOOG antitrust regulatory issues are tricky as you note, so it's probably best to invest in all three, which has been my approach (I like GOOG best, and am overweight in it relative to MSFT and AAPL).
They opened the first location in Sweden in fall of 2022. Way too early to tell. Costco’s are always low traffic the first few years (outside of China)
@@JosephCarlsonAfterHours You know more about Costco than me but the way they have established themselves here just isn’t adapted to Swedish consumers. In order to get to the Costco you need to drive for 30-45 minutes, there’s no subway line going there, etc. I bought a membership just to check it out and was impressed once I got there. But Swedes in the 3 big cities (the only places with a potential market big enough) just don’t like driving far to do their shopping. Maybe Costco will manage to change that habit but it seems doubtful. But I’d like to be proven wrong
Hey Joseph, I don't know if you'll get to read this... I've been following you since 2019 and I wonder if you know what your returns would be on your passive income portfolio if you never sold out on any company - if instead you just stopped adding money and let the % of said company get diluted away, and reinvested their dividend into other companies. Have you ever done that analysis? I'm curious if this "buy and hold" method would have outperformed.
I’ve got a couple of good ETFs in my portfolio and I still got other share holdings doing incredible numbers. I’m up 47% YTD! I’m also well positioned with good blue chip companies and I have stop losses in place.
Thanks and all the best on your investing journey. Personally with insights from my advisor I prefer to invest in large cap companies which have economic moats, large cash flows and strong balance sheets. Some of which are AAPL, MSCI, IUKD, VHYL, SCHD, NVDA and Barclays…
Except it could result in colon cancer under specific circumstances. Not entirely sure about it but heard about it from someone who did research on it. Feel free to look it up :) I can be wrong.
Hello Joseph! Thank you for your videos. They have challenged my assumptions and understanding. Even with all the knowledge in the world, sometimes you win, and sometimes you learn. Mostly because the world is random and 100% probability can fail. Lessons learned. Got to comments for you. One, yes, it is doable to beat the S&P 500, but most people don't have the financial structure or cash position to take the level of risk, IMO. There is nothing wrong with market returns as you, as well as Buffett, have stated. Second, I looked in the CP balance sheet to see if there is an opportunity there. Definitely, the price is under the 200-day moving average, and the dividend as well as forward earnings look promising. My concern is and sort of a rule of thumb for me, not to invest in companies with high debt to free cash. Free cash was around 500M, and debt was over 2B. Highly leverage even if they execute perfectly. That's my take. Thanks for the videos and commentary. PS. I am a career systems engineer, so we hate software engineers. 😂😅😊
I don't get how so many people are so comfortable buying and/or holding the SPGI's of the world at these levels. Here is a company that grew revenue at a 7-8% CAGR 2015-2021, with profit margin hovering around 30% and buying back ~2% of its shares each year at very questionable levels. The share price quadrupled. Why did it 4x? Well, the earnings multiple nearly tripled from 13-15 to the current 40 ($400, times 317m shares, divided by 30% of FY22 revenue 11.2b). The multiple won't triple again: it is in fact a lot more likely to halve if anything other than perfection materializes in the medium turn. So you are basically keeping your fingers crossed that multiples remain in bubble territory, clinging onto hopes of perpetual growth, perpetual expansion of already high margins, perpetual buybacks of shares that trade at lunatic valuations...
Same story for Intuit. In years when there is no acquisition, revenue grows at 10-12%, and margins were stable at 21-23% prior to FY23, somewhat lower around 16% in FY22-23, plus systematic 1% dilution. Multiple 10 years ago was 25-30; today it is 50-55 if you normalize by 20-23% earnings. With 10% growth, 22% profit margin, 30% profit distribution as a dividend and a 10% discount rate, the intrinsic value for a terminal earnings multiple of 20/25/30 is 230/285/335. How is it possible that these charts don't look like a bubble to so many people? As for the business model: in European countries, you don't even prepare a tax return yourself - the tax agency (just like the IRS) already knows nearly everything, so instead of having you file a return, they send you a tax report and ask you to confirm whether it is missing anything, which for the vast majority of people isn't the case. So there is no tax prepping middle man bribing the government so that it can continue to suck money out of taxpayers. Even you mention often that investors have a negative view on the company, because they think about it from a customer perspective, a customer that doesn't like the tax filing experience and sees Intuit as what it is: an unnecessary middle man adding no value that would likely be regulated away if the government was in the business of serving you. So when you put everything together (valuation, fishy business model, dilution, recent debt issuance...) I can't find a single reason to own this thing, other than the fact that the shares seem to appreciate consistently.
Enjoyed the informative episode. I own quite a few of the stocks mentioned. Have been looking at CP quite intensely for last month or so. MA is my largest holding with V to a lesser degree. UNH, MSFT, AAPL and some INTU. Then Pharma stocks and the rest of other types of dividend bearing stocks as well as increasing VICI as of late as I agree. Well presented vid. I may not always agree, but opinions are greatly appreciated. Considering joining Patreon for your Qualtrim as looks to be a good bundle of info to explore with. Again, thanks
Happy Thanksgiving! This is a big episode, it took a bit more time to prepare. If you appreciate the effort hit the thumbs up button and it wouldn't hurt to subscribe to the channel. We're very close to 100k. Hope you have a wonderful week!
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You are right . But beware of babies that exploit robotic technology like TGL. The latter has created a futuristic platform, completely managed by robotic machines, to manage and maximize the e-commerce earnings of the giant Tik Tok. Virtual machines could soon dominate
Wow masterpiece
Joseph you stay away from questionable hype companies, that's smart! ✌✌
Greetings from Croatia
Chipotle is great. Likewise with Costco!
Joe: Yeah 20 years, Steaks will still be peoples go to
W.E.F. : Are you sure about that?
Great content and visibility, Joseph!
High quality! CNBC should invite you to work for them.
Great to see you’re a Depeche Mode fan as well!! Thanks for your contribution to my financial knowledge.
You make a compelling argument for reasons to invest in these companies. Nice work.
Fully disagree on "steaks are unhealthy" comment 😛
They aren't as bad as Twinkies, but there's pretty good evidence and general consensus that an optimally healthy diet is Mediterranean style with guidelines for about 4oz per week of red meat.
Of course, a million different influencer personalities will tell you as many differentthigs, that carnivore is best, or keto, or Paleo, but the best evidence suggests steak is not particularly good for you, especially served at a steak house that's trying to control costs.
You should have jumped into FICO. I bought in about three months ago after seeing one of your investor videos. Up 28% in that time. Just do it!
Maybe he is less of a speculator than you are.
FICO way better than Moody or SPGI.
Each share is so expensive. I’d be able to own one share…..
Joseph, additionally with CMG, the bodybuilding/fitness community firmly believe chipotle provides the cleanest and fastest meal with dense calories
You should create an ETF/Fund, I'd buy some. The ticker should be something like: JCAR
You know that’s not an easy thing to do? Only worth it to do it with scale. The finance industry is heavily regulated.
I am sure with just a bit of elbow grease you can create a similar allocation, since his portfolio is public and transparent
Actually this can be done on t212 and shared :)
His passive income portfolio would be very similar to something like SCHD or VIG (dividend growth funds), or quality-tilted ETFs like MOAT or QUAL. It is a good style, but in my opinion, I still think a market weighted portfolio would outperform. There are many risky small/large cap value stocks that are at historic extreme levels of cheapness relative to the high quality growth companies Joseph prefers. A broader market rally would likely see them outperform greatly from here. Quality has done its job of not totally crashing/burning in a bear market, but it also limits upside.
It’s not difficult look at CGDV SCHG VOO VYM or SCHD
What is your opinion on American Express and what is its potential growth vs mastercard and visa. Thiers product technically is better imo.
I think it has a better product but as a company it has one big disadvantage that I have seen. That the ROCE OF AMEX is a lot lower than that of MA and V. And at the end of the day higher consistent ROCE leads to higher long term returns
Great content. Which app and equipment do u use to create the videos?
Hey, great video but something has often puzzled me in your videos. When you show gains from the M1 finance, it says 49% gain in MA for instance, but how does that number make sense when the total invested amount is 65k and gains are 7k?
I think it's because he has built his position over a long time so M1 Finance bugs out a bit with the percentages
What do you think about autozone and oreily autoparts?
Price to FFO of 11 for VICI is crazy. Guess I’ll buy more
same. I'm already heavy in VICI but these VICI prices are just too good to not buy more
After using your style of quantitative analysis. Im liking Ulta and airbnb. What do you think
I have done the analysis too and Ulta looks great! Not sure about airbnb though, I don't think its ROCE was that high
When you say we bought into it, are you referring to yourself and your spouse yourself and a team of people? Are you able to clarify that?
I laughed out loud when your refered to steak as unhealthy 😅
I followed you into $SPGI back In October, when the share price was dipping. It’s been a huge winner since then 🏆
Costco was collecting subscription fees before subscription fees were a thing.
Hi Joseph, can you remind me why you sold salesforce?
I think he didn't like the fact that it's compensation payments to management eat up so much of the free cash flow
@@TheCashFlowCompounder Thank you, yes, you are right! I found the video :)
@@andreaisonline No worries! I'm gladdd
Congratulations for all your knowledge! And success!
@Joseph carlson where do we access the write up you mentioned in this video? Is it on discord ?
On the discord in the joes trades channel
Been an investor for over 25 years so I’ve seen ups and downs. I don’t like all your investments (the railroads for example) but I really like your strategy and mindset overall and enjoy your videos.
Why not the railroads?
I keep thinking about following into the railroad idea, but I don’t have any personal knowledge of the industry. It seems logical but I don’t have any personal experience of the business so I I am holding out for now. If the price drops any lower I think I would like to do some serious research of the risks and norms of the industry.
@@stevetop5970feels like rails are more of the past. I know they have pricing power and efficiencies over other means of transportation but I don’t see much potential growth in terms of news rails being built. You see abandoned railroads everywhere and people develop that land for residential and commercial use.
Great job - Keep it up buddy 👍
Chipotle is also a great place for vegetarians. We love it so much❤
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Rebecca Hickman
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, i'm in my fifth trade with her and it has been super.
I was skeptical at first till I decided to try. Its huge returns is awesome. I can't say much.
she's mostly on Telegrams, using the user name
Hickman109 💯 ..that's it
This man is a legend
Interesting and educational information. Have a good Thanksgiving :)
Portefolio reviews! One of the favourite videos! 👌
Happy Thanksgiving Joseph. Thanks for all you do. Your portfolio is really awesome, even if it does lack some Broadcom and Tesla.
I have both, very impressive companies
Your portfolio is as you say, bulletproof, I feel your portfolio setup will be market beating for many many years if not decades to come. Awesome stuff as always Joe!
i am subscribed what is your average return over the past 20 years or less?
What do you think about Realty Income (O)? I think it has potential in the future
What do you think about $FSLR ?
Joseph do you think now is good time for jumping back on BABA stock.
I have the same question for Joseph.
You can check dataroma to see who sold/bought recently
Price matters. P/e 30 is too high to buy
38:00 what not CNI? Vs CP?
You pick pretty good stocks.
Thanks
Joseph I think you should structure these PowerPoint type videos so your face cam doesn’t block some of the words. I see you move the face cam a few times but it would be better if it were out of the way entirely. Love your videos keep it up 👍🏻
Joseph, I'm amateur and have a question regarding CP. In long term perspective, it is underperform SP500 or is quite close to it (if i'm not wrong). Does it make sense to 'play' with CP instead of just buying VOO/SPY? Thank you
Why did you invest in cp stock if their dividend doesnt grow consistently year after year
I think he's in it for the growth potential instead of the dividend
Please analyse GS, BLK, JPM banks
He has said in the past he doesn't like banks! I think its because it is very hard to properly analyze them correctly
super portfolio!
if you'd consider a health company, which would it be: UNH, ISRG, MTD, TMO, NVO, LLY or other?
i think UNH and TMO are good candidates (i have them in my portfolio) and i'd like to add ISRG, at a lower price...!
I analyzed UNH recently and the only problem I saw is that it's ROCE is not as big as the one I'm looking for. But the valuation and fundamentals look great!
Awesome video thank you for sharing
Thanks Joseph. Great content. Talking about diet drugs as a threat to the fast food industry because it suppresses hunger is nonsensical.
@Joseph, as a long term follower, I think you should combine the 2 portfolios. It doesn't really make sense to have the same stocks (like Apple and MSFT) in 2 different portfolios and "treat them differently" so to speak. My 2 cents :)
I think all companies in passive income portfolio pays dividends. That's one of the key components long term. So two channels and portfolios are fine :)
Agreed, he should track his performance with his total invested money not just one small portfolio
@@TJR82 Then why not moving AAPL and MSFT to this portfolio?
This way he can have more content to justify 2 yt channels
@@jmcauhy I don't need two portfolios to justify another youtube channel. I could come up with plenty of content with just one portfolio. The portfolio's are a bit different, Passive Income is up 23% YTD (as of today), Story Fund is up 63% YTD. So the performance and concentration is quite a bit different. The Story Fund right now is going to be decided on Amazon and Netflix Primarily. I think I want to see it through until 2025.
In terms of Performance. The Passive Income account did about 2% better than SPY in 2022, YTD Passive Income is up 23% while SPY is up 20% total returns. So it's had slight outperformance over the past two years, but that's not enough time to be statistically significant. The Story Fund was off to a terrible start with a few bad moves on my part. But it's now within 2% of SPY (as of today), and has pretty strong momentum over the past 6 months.
Whether I manage these portfolio's separately or together, I can end up calculating the aggregate performance at the end of 2025 to get a better idea.
Best of Skills on your investments.. . Long-term = Wealth Creation. AI sector stocks keep beating on Earnings and delivering the Gains. * SOUN.. 35 % month.. SoundHound. $ 342 mil in Backlogs/ 219 Institutional Investors..* BBAI 38 % mth...* NVDA Up 16 % mth...* IDAI Up 12 % mth...* PLTR Up 26 % mth.. Thumbs UP video / comments... Thanks.
80% equities 20% cash. I plan to take advantage of the next market downturn where s&p 500 will drop below 15%, the issue is how to properly allocate a $1m stock/bond ratio for steady gains, yet indicators are playing a trick on us with the ongoing rally.
Please also cover other stocks based on demand. This feels like it’s getting repetitive.
Great video as usual Joseph! Thanks !
Happy Thanksgiving everyone!
Happy Thanksgiving! So grateful for the quality content over the years and qultrim software.
Happy Late Thanksgiving!
Intuit . Love it how blind investors always find excuses why stockbased compensation aren’t that bad . Every year you get diluted but who cares . Instead of getting a dividend you loose everytime and need to hope that the companie still grows to outpace that shit . What happens when grows Stopps is shown at PayPal . On the other hand their are companies like railroads who don’t even grow much but because of moat , high margin and dividend + stock buyback , you earn a lot even with no grows. Now think what would happen to Intuit if they don’t grow 20%+ every year but 9%. While having 4% stock based compensation and 3% inflation . The only people who earn really money in that case are intuit management and workers .
Thank you 👍👍👍
2 years ago you sold MA and V and you had a very negative bearish view on them, interesting
I love Intuit as company but the SBC cuts the cashflow by 40% which is a hard pass for me.
The Chipotle restaurants in my area, (Northern Virginia) stopped offering steak as a selection around 2 yrs ago and that's when I stopped going, but a few months ago I went back in and noticed that the Steak was back on the menu. so now I'm wondering why the changes?
Have you outperformed the sp500?
Awesome video. I like your longer videos so I can just settle back and listen. Great analysis on your holdings.
Thanks
Why would Bing paying apple be ok but Google paying apple is not ok?
Bing has 3% market share and google has 91%
@@JosephCarlsonAfterHours ok but is the same thing for real like what just give it someone else because it's nit fair for the other person sounds dumb to me still
@@JonJon-kx6xl I don't agree with it either, I think Google should win. But that's the DOJ's fault.
Thanks!
Nice Depeche Mode shirt instead of always Nike 🫡
Omg, Joseph! I just noticed that you are wearing the exact same Depeche Mode hoody that I am wearing right now. Awesome!! I can’t stop wearing it, as it is so damn comfortable. 😎
A major component that I need to know about your portfolio is your avg cost in these stocks yes your portfolio is amazing and your doing amazing but these stocks right now are expensive if I buy these stocks today I would not make the same gains as you I tried to be patient and scroll thru but you only showed the company’s financials not your avg cost you showed how much you owned which is good but not knowing what price you got in on these stocks is kinda dangerous for someone just watching your videos without knowledge of price is everything can you please help
I don’t understand why you think you can match the returns of another investors portfolio. If you’re trying to copy another’s portfolio then you will always be behind, if you make your own investments, you may achieve higher returns than another investor. But by definition you can’t really keep up with anyone if you’re choosing to follow.
You really can only outperform or underperform.
He says he is holding on some of these company's meaning he isn't buying more right now because everything is kinda expensive. The railroads and maybe vici are the only fair/under valued from his port. Trust your gut you were right to think everything is expensive. I'm DCA into a couple etf's and just building my cash for a couple months at a time waiting for a price to fall.
@@MrCococdanot wanting to copy any investor just trying to learn smart investors thought process on price targets of very good companies I’ve bought way to high on really good companies and my research is correct but learning intrinsic values of companies is important to me my portfolio is very small like 9 tho and gains are ok but but nothing over 100 bucks and only one in the red but only 2 dollars so I believe I bought to high none of these companies are in my portfolio but I’m still learning and it would be very useful to see ok he bought that stock at like 90 a share well it’s 400 now so ok he had to wait really long time for a pullback what made him say 90 was ok to get into that stock and why 90 was a good price and was ok with that price
@@kp1242 thanks buddy I will trust my instincts 👍
@@Thenumbers1686
Do not trust your instincts . learn how to trade with discipline. Joseph took two years to acquire 475K to invest it’s all down to discipline and investment goals. Start from the beginning
@josephcarlsonafterhours thank you for the education videos. Can you please do a comparison video between SPGI vs NDAQ. Thank you.
Love the Depeche Mode shirt.
10. Employees is not even close to midmarket. A small business is up to one or even several hundred employees.
S&P 500 is Up and will do better in 2024, as indicators for profits continue to improve, making investors like me believe that “Santa has come early” to the markets. How to boost a $250k portfolio in order to achieve 7-figures would be appreciated, I only have 5 years to retirement.
wow massive gains! my partner recently hinted on going same direction.. what did you invest in, and who is your investment advisr please, if you dont mind me asking? in dire need of asset allocation
thanks for putting this out, just found the official site of Theresa Leigh Detrick after inputting her full name on my browser, she is valid
Hi Joseph, Is it true that almost all youtubers and other influencers portfolio gets capped at 1 million max in profit. Please share your opinnion?
Impressive original analysis Joseph. Have you considered AXP for your passive portfolio? I have both AXP and MC
but like AXP at its current stock price better. I also like CNI over CP right now ( I hold CP and UNP but recently initiated a position in CNI). The AAPL/MSFT/GOOG antitrust regulatory issues are tricky as you note, so it's probably best to invest in all three, which has been my approach (I like GOOG best, and am overweight in it relative to MSFT and AAPL).
Only issue I have with $CP is, they overpaid for their acquisition. Not sure I’d buy at these levels
I can tell you that Costco hasn’t succeeded here in Sweden at all
They opened the first location in Sweden in fall of 2022. Way too early to tell. Costco’s are always low traffic the first few years (outside of China)
Does the Costco in Sweden sell Snus and Surströmming?
@@JosephCarlsonAfterHours You know more about Costco than me but the way they have established themselves here just isn’t adapted to Swedish consumers. In order to get to the Costco you need to drive for 30-45 minutes, there’s no subway line going there, etc. I bought a membership just to check it out and was impressed once I got there. But Swedes in the 3 big cities (the only places with a potential market big enough) just don’t like driving far to do their shopping. Maybe Costco will manage to change that habit but it seems doubtful.
But I’d like to be proven wrong
@@thatpointinlife there’s a shortage of surströmming right now. It’s a terrible tragedy.
Joseph, when will you do a single course for investors to learn the fundamentals and technical analysis from zero to hundred?
great episode, one of a kind youtuber.
Top class video by a very clever gentleman and well thought through… he believes in himself and his research. I personally really like this!
honestly, the most transparent youtube investor i have found
Dope t-shirt!
How long you been investing?
It says the portfolio started December 17, 2017 on the screen under Current Value.
@@epbrown01 the question is how long he is into investing
Hey Joseph, I don't know if you'll get to read this... I've been following you since 2019 and I wonder if you know what your returns would be on your passive income portfolio if you never sold out on any company - if instead you just stopped adding money and let the % of said company get diluted away, and reinvested their dividend into other companies. Have you ever done that analysis? I'm curious if this "buy and hold" method would have outperformed.
Thought you have Amazon and Google...maybe on the other portfolio/channel?
It’s in his ‘Story Fund’ portfolio, this video specifically covers his ‘passive income’ portfolio.
I’ve got a couple of good ETFs in my portfolio and I still got other share holdings doing incredible numbers. I’m up 47% YTD! I’m also well positioned with good blue chip companies and I have stop losses in place.
Amazing well done! Which companies have performed best for you?
Thanks and all the best on your investing journey. Personally with insights from my advisor I prefer to invest in large cap companies which have economic moats, large cash flows and strong balance sheets. Some of which are AAPL, MSCI, IUKD, VHYL, SCHD, NVDA and Barclays…
Geez, strong performance in 2023. Congrats! Kick down those Wall Street doors
I’d say your IA is doing a great job protecting your portfolio. More still impressive as you’re making fortunes in these turbulent times!
I’d choose expertise any day because finding the right balance between investing and living is very important to me.
Video received from you are several months old rather latest videos. What could be reason....
Subscribed 👍
steaks aren't unhealthy, they aren't processed.
M1 Finance’s interface looks so nice compared to Vanguard’s UI….makes me jealous, but I don’t want to deal with transferring all my accounts 😢
Nice "dividend" portfolio.
Joseph if your money is in these stocks does that mean that you are living of of dividends or do you have a separate job?
I don't know if he has a different job, but he definitely earns from RUclips videos.
I think he earns enough from RUclips and Patreon to not need a separate job!
Steak is one of the healthiest foods you can eat, nothing unhealthy about it.
Except it could result in colon cancer under specific circumstances. Not entirely sure about it but heard about it from someone who did research on it. Feel free to look it up :) I can be wrong.
sad where i live now I can't drive to a Texas Roadhouse. 😢 but i still have some shares.
Does anyone remember Black Angus?
Hello Joseph!
Thank you for your videos. They have challenged my assumptions and understanding.
Even with all the knowledge in the world, sometimes you win, and sometimes you learn. Mostly because the world is random and 100% probability can fail. Lessons learned.
Got to comments for you. One, yes, it is doable to beat the S&P 500, but most people don't have the financial structure or cash position to take the level of risk, IMO. There is nothing wrong with market returns as you, as well as Buffett, have stated.
Second, I looked in the CP balance sheet to see if there is an opportunity there. Definitely, the price is under the 200-day moving average, and the dividend as well as forward earnings look promising. My concern is and sort of a rule of thumb for me, not to invest in companies with high debt to free cash. Free cash was around 500M, and debt was over 2B. Highly leverage even if they execute perfectly. That's my take. Thanks for the videos and commentary.
PS. I am a career systems engineer, so we hate software engineers. 😂😅😊
Always get investment idea from Joseph 🎉
I don't get how so many people are so comfortable buying and/or holding the SPGI's of the world at these levels.
Here is a company that grew revenue at a 7-8% CAGR 2015-2021, with profit margin hovering around 30% and buying back ~2% of its shares each year at very questionable levels.
The share price quadrupled.
Why did it 4x? Well, the earnings multiple nearly tripled from 13-15 to the current 40 ($400, times 317m shares, divided by 30% of FY22 revenue 11.2b).
The multiple won't triple again: it is in fact a lot more likely to halve if anything other than perfection materializes in the medium turn.
So you are basically keeping your fingers crossed that multiples remain in bubble territory, clinging onto hopes of perpetual growth, perpetual expansion of already high margins, perpetual buybacks of shares that trade at lunatic valuations...
Same story for Intuit.
In years when there is no acquisition, revenue grows at 10-12%, and margins were stable at 21-23% prior to FY23, somewhat lower around 16% in FY22-23, plus systematic 1% dilution.
Multiple 10 years ago was 25-30; today it is 50-55 if you normalize by 20-23% earnings.
With 10% growth, 22% profit margin, 30% profit distribution as a dividend and a 10% discount rate, the intrinsic value for a terminal earnings multiple of 20/25/30 is 230/285/335.
How is it possible that these charts don't look like a bubble to so many people?
As for the business model: in European countries, you don't even prepare a tax return yourself - the tax agency (just like the IRS) already knows nearly everything, so instead of having you file a return, they send you a tax report and ask you to confirm whether it is missing anything, which for the vast majority of people isn't the case. So there is no tax prepping middle man bribing the government so that it can continue to suck money out of taxpayers. Even you mention often that investors have a negative view on the company, because they think about it from a customer perspective, a customer that doesn't like the tax filing experience and sees Intuit as what it is: an unnecessary middle man adding no value that would likely be regulated away if the government was in the business of serving you.
So when you put everything together (valuation, fishy business model, dilution, recent debt issuance...) I can't find a single reason to own this thing, other than the fact that the shares seem to appreciate consistently.
@@Amwatson801great to hear opposing views
Good insight on ozempic😂😂😂
Enjoyed the informative episode. I own quite a few of the stocks mentioned. Have been looking at CP quite intensely for last month or so. MA is my largest holding with V to a lesser degree. UNH, MSFT, AAPL and some INTU. Then Pharma stocks and the rest of other types of dividend bearing stocks as well as increasing VICI as of late as I agree.
Well presented vid. I may not always agree, but opinions are greatly appreciated. Considering joining Patreon for your Qualtrim as looks to be a good bundle of info to explore with.
Again, thanks