April 9, 2014 Comments

The Good Times Roll On…

On Wednesday the S&P 500 rose 1.1% after apparently the FED minutes proved palatable to the market. Toronto rose 0.4%

Canadian Tire rose another 2.4% to $108.23. This has been a huge winner for us. Personally I sold too quickly on the way up but it’s still some 8% of my overall portfolio. At this point I think my thoughts should again turn to trimming it even though that has not been so wise to date.

Just about everything was up today…

Liquor Stores N.A. today announced that its CFO is gone for personal reasons and was replaced from within. I had sent an email to the CFO about six weeks ago and then a follow up and he never responded. I worried that meant that he was not on top of his game. Perhaps he did have personal issues to deal with and if so I wish him well. Meanwhile as far as the company is concerned a new CFO is probably a positive thing. I guess though they could use it as an excuse to re-evaluate and cut the dividend. Ultimately I think the dividend is too high and a cut might be the proper move. But the stock would go down on the news most likely. In the last report the company said it was committed to maintaining the dividend. That may be true. But it’s not a guarantee. One interpretation of recent moves is that the Board is on top of things making changes. The bottom line is the stock looks cheap but I consider it speculative.

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