Subject: Re: buy Canadian
ATD is trading around 22 times earnings. I own it. Dollarama is more like 40. It never seems to sell off, the Costco effect, so I wait like Godot for a price drop.


You and me both. And in both cases, the multiple seems to just keep getting worse, at the same time that they seem to be getting close to the end of their growth into their addressable market. If the multiple ever drops, it is likely to be because growth is ending, and I wouldn’t want them anyway. Seems like it’s just too late now.