As some of you know, I was at the Toronto Money Show this year (2017). Pretty good. But not the high turnout I’ve seen in the past.
The highlight for me, to my surprise, was Gordon Pape’s presentation. Pape’s an old guy; 81. But one his of Best Ideas was Shopify, SHOP.to. Why was I so intrigued? Well, Pape’s invested through tons of market cycles, ups / downs, since 1957 (~60 years) , and most importantly through the tech bust in 2000. So, he’s seen speculative dog-sh*t tech stocks (e.g. TheGlobe.com, eToys.com, Pets.com, and Webvan, to name a few). And yet, he likes Shopify (which I also own), even though it isn’t currently generating a profit.
Pape originally reccomended SHOP.to in Feb, 2016 @ $28/share, and now it’s $147/share. Shopify’s a multi-bagger, and he’s still reccomending the stock. I love it.
Who else owns SHOP.to? I know Jonathan Kennedy does (from the Capital Compounders Club on Facebook), and he orginally got me interested in the company, and it’s huge addressable market + long runway to grow.
Conversely, who thinks Shopify is purely speculative, with too high a valuation, and should be avoided? And/or do you think the entire tech sector is currently overvalued?
I also attended three other presentations, with Derek Foster, Keith Richards, and Ryan Modesto.