Buffett, National Bank and Royal way to value CNQ

0:00: Intro

2:09: What to do in a bull market:

5:12: Berkshire Annual Letter

9:22: Reviewing Berkshire's under-performing assets

16:29: Letting your winners compound:

18:29: Why National Bank is outperforming:

21:44: The big picture for Canadian banks:

23:33: CNQ has reached its debt target - now what?

25:49: The math for CNQ

This week's podcast touches a number of topics including a review of Berkshire Hathaway's recent shareholder letter. Barry and Ernest discuss Buffet's dissatisfaction with Berkshire's railroad and utility asset. Next, they have a conversation about the Canadian Bank results and what Bank CEO's are saying about the Canadian economy. And the feature discussion is about Canadian Natural Resources (CNQ). Barry and Ernest give investors food for thought on how to value CNQ differently.