President, Murray Wealth Group. Tweets are not investment advice. MWG may or may not have positions in securities mentioned in tweets.
Toronto, Canada
Joined September 2019
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$DBM.TO love to see it.
CEO Commitment to Shareholder Alignment
Amar Doman, the Company’s Chairman and Chief Executive Officer has established an automatic securities purchase plan (“ASPP”) pursuant to which 100% of his net after-tax base salary will be used to purchase common shares of the Company in the open market. Purchases under the ASPP are expected to commence in December 2026 and will be administered independently by a third party broker at approximately 90 day intervals, without discretion or involvement by the CEO in determining the timing, price or number of shares purchased. The arrangement underscores the CEO’s long-term commitment to the Company and his confidence in the Company’s future, while further aligning his personal financial interests with those of the Company’s shareholders.
Nice results from $PPL.TO last night. $GEI.TO too. We own both - but have to wonder if Gibson is envious of Pembina's growth pipeline. I wrote about it here.
murraywealthgroup.com/2026/1…
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From a Canadian retail success story to a potential global powerhouse, Aritzia is entering an ambitious new phase of growth. With plans to double its U.S. store footprint by 2032 and establish a meaningful presence overseas, how far could they go?
bit.ly/4iH41a4
Jamie Murray retweeted
Congrats to the Uber team…. I just opened the Amazon app and ordered donuts to the ranch
Worked flawlessly… authenticated my Uber account with Amazon and got free delivery since I ordered over $25 in donuts and I’m a Prime member!
Exceptional value to Amazon Prime subscribers @ajassy @dkhos 👏
Long $UBER & $AMZN
💥 @UberEats is now on @Amazon.
We’ve always believed in meeting customers where they are. Amazon takes that to a whole new scale.
U.S. Prime members now get a $0 Delivery Fee on restaurant orders over $25. No new app. No Uber account needed.
investor.uber.com/news-event…
$ATZ.TO Canada revenue has more than doubled since the pandemic on a flat store count (about 12 repositions have increased square footage ~20%). The division grew 20% last quarter.
Jamie Murray retweeted
Microsoft says 90% of Copilot queries are "auto" mode i.e. the user doesn't care about the model.
A glimmer of hope for software.
Full report here $ATZ.TO
murraywealthgroup.com/2026/1…
FInal thoughts on Aritzia $ATZ.TO Investor event: Even more bullish than I expected.
I believed international would be the focus with stores now in the major metros in the US and brand penetration reaching 20% of Canada in terms of per capital spending. However, management expressed confidence in the larger US opportunity which comes with less execution risk, higher margins and better returns.
Management outlined a path to $7.5B in US, ~2.5x higher than FY27. Green space remains with $10B LT in sight. It's clear management thinks e-Commerce opp is much bigger than success to date implies.
As well, Canada is guided with modest growth (~$250M added revenue 5 year plan). That's the same absolute growth that Aritzia achieved off a smaller base in 2026. Room to grow with product expansion, and understandably conservative but historical track record of outperformance.
International awareness is very high at 40% of social and given Groupe Dynamite success in UK, implies success should be achievable. I think $2B long term is within reach.
Finally margin guide is very reasonable and probably conservative but leaves room for additional investment opportunities should that arise.
FInal thoughts on Aritzia $ATZ.TO Investor event: Even more bullish than I expected.
I believed international would be the focus with stores now in the major metros in the US and brand penetration reaching 20% of Canada in terms of per capital spending. However, management expressed confidence in the larger US opportunity which comes with less execution risk, higher margins and better returns.
Management outlined a path to $7.5B in US, ~2.5x higher than FY27. Green space remains with $10B LT in sight. It's clear management thinks e-Commerce opp is much bigger than success to date implies.
As well, Canada is guided with modest growth (~$250M added revenue 5 year plan). That's the same absolute growth that Aritzia achieved off a smaller base in 2026. Room to grow with product expansion, and understandably conservative but historical track record of outperformance.
International awareness is very high at 40% of social and given Groupe Dynamite success in UK, implies success should be achievable. I think $2B long term is within reach.
Finally margin guide is very reasonable and probably conservative but leaves room for additional investment opportunities should that arise.
$NOW saw seat counts grow dd, acceleration vs LY in quarter, according to Bernstein callback
Jamie Murray retweeted
#BREAKING: 3 people shot inside Bridle Path home, 4 taken to hospital: Toronto police. toronto.citynews.ca/2026/10/…
$AON top line results beat across the board. Stocks has moved off bottom and USI integration is key. I laid out the case with BNN earlier this month (written notes in articles).
bnnbloomberg.ca/markets/2026…
Aritzia didn't commit to any specific int'l markets but they did guide to $500M in int'l sales and half of that being physical stores. We estimate the NYC flagships can do $50-60 M sales so you're looking at large 2-3 cities - UK, Mexico, Brazil called out - Mexico and UK most likely IMO
Aritzia 5 year plan - 15-17% sales CAGR, EPS growth above sales, international expansion - webcast starts at 1015am
investors.aritzia.com/invest…
Aritzia 5 year plan - 15-17% sales CAGR, EPS growth above sales, international expansion - webcast starts at 1015am
investors.aritzia.com/invest…
$VITL.UN getting hit on Brazil exposure - it remains a meaningful part of NAV but very high quality assets. Exchange rate/Inflation/cap rates are the issue. All the drop on Lula, none of the pop. Adding personally.
$VITL.UN way too cheap here if rates are done going up. Converts cleaned up, good liquidity, payout ratio trending towards 80%, story cleaned up with NA/ANZ focus and Healthscope saga over. New development coming in '29 that will add 0.04 to AFFO (9% increase)..
$VITL.UN way too cheap here if rates are done going up. Converts cleaned up, good liquidity, payout ratio trending towards 80%, story cleaned up with NA/ANZ focus and Healthscope saga over. New development coming in '29 that will add 0.04 to AFFO (9% increase)..
Jamie Murray retweeted
The dumbest central bank in the world
Market saying: no you shouldn't
BoC: but we can so easily make things worse so why shouldn't we?
It's a cult.
🇨🇦In Canada, the market odds of an October rate hike went from about 25% just a few days ago to 84% at present. What happened? Tiff Macklem said over the weekend at the IMF that the Bank of Canada will be increasing its inflation forecast. He also flagged a higher risk of broader inflation from oil prices, and noted the dual dynamic of higher oil prices + higher inflation and how that reduces the case for easing (recall Canada is a massive net exporter). Inflation data came out on Monday morning after his remarks. Core measures (trim + median) printed at 1.8% and 1.9%, respectively - both below target. Headline printed at 3.1% as gasoline was up 6.1% in the month. The highest headline has been this year was 3.2% in May (prior 3 months were 3.0%, 3.0%, and 2.8%). The number of items running >3% fell to 32% from 36%, a positive development. So even though the latest inflation print was fine, the market is still expecting a hike next week. It seems like Macklem is looking more towards forward looking data and fading backward looking data, but it still begs the question - does the BoC need to see actual evidence of broad-based inflation pressures from energy prices, or do elevated energy prices justify moving sooner rather than later? Macklem did note over the weekend that recent Iran developments were an escalation, and he did not sound too optimistic on the prospects of improvement in the near term.
Checked out the $ATZ.TO Flatiron store this week. Maybe their nicest one yet. Biophilic and beautiful.
Investor day coming up in 10 days.
