February 20, 2014 Comments

On Thursday the S&P 500 was up 0.6% and Toronto was also up 0.6%.

Toronto is at a three year high. And its quite close to its all time high. The S&P 500 is just a little below its all time high reached in late December. This all seems pretty good considering the market and economic news has been fairly mixed.

Alimentation Couche-Tard jumped another 3.6% today. While it seems expensive I have been saying for a number of years that it is one of the very best managed companies in Canada. Around 2007 I was in Florida and spent some type checking out one of their run of the mill Circle-K stores in Tampa. That may seem silly but I like the idea of owning companies that I shop at and where I can check out their operations that way. This company was a real market darling in the early 2000’s. Then it suffered an earnings drop around 2007 and then of course got clobbered in 2008. Most of the analysts seemed to abandon it and missed out on an absolutely stunning performance since the lows of the 2008 debacle. Buffett is always saying if you invest in a really good company you probably stick with it instead of trying to get cute and sell when it starts to look like less of a bargain. This would be a case in point. (Nevertheless, I am not buying back in at this price).

Leave a Reply

Your email address will not be published. Required fields are marked *