This week I went shopping for some reasonably well priced stocks for the long run.
I have initiated a position in Canadian national railway.
1) wide moat you can’t just enter the industry and start building your own railroads…. it would cost a fortune
2) very good capital and cash flow management see below numbers
3) dividend growth for the next couples of years will easily be on or above 10% a year, that coupled with a 1.9% current yield is a long term total return of 11.9% annually, I am satisfied with that.