Q: Operating metrics (FCF, ROE, margins, etc.) for PAYX seem quite strong - it seems to be an asset-light business, dividend grower and compounder. However, it's at the same price as 3 years ago and has been underperforming the S&P for the same period. Am I missing something? What are your thoughts for PAYX and is it worthwhile for initiating a position at some level you would suggest?

Q: I currently hold the following securities in my TFSA:
AMD - 8.89 %
BAM - 7.76 %
BN - 12.99 %
CROX - 12.59 %
GSY - 16.11 %
IFC - 9.07 %
LMN - 12.16 %
TFII - 9.78 %
TOI - 8.86 %

In 2024 I added IFC and TFII to the portfolio. Thank you.
AMD is the only holding in the red. What is your opinion on AMD's future prospects?
Looking for ideas on where to invest the 2025 contributions. Add to an existing position or take on a new holding?
Thank you for the great service (just renewed my membership)
Happy New Year.
Francisco

Q: I'm asking for 5i's opinion on your current (5) best asset-light company ideas - Canadian and / or American - that have:

- financial stability

- strong competitive position today and into the future

- in a sector that is not threatened by disruption

- attractive valuation at today's prices

Hopefully not a lot to ask. Thanks for your service.