October 12, 2013 Comments

Wells Fargo is updated and rated Strong Buy. It just reported another excellent quarter of earnings. Revenues did decline in the quarter due to lower mortgage refinancings which generate fees. But overall, the business appears to be still growing. It is one of my larger holdings. And I plan to add to my position, perhaps substantially. It is not without risks and certainly if there is a general market decline it will fall in price. But overall it seems likely to be a very good investment.

On Friday the S&P rose 0.6% while Toronto was flat.

On Friday I was tempted to add to my Liquor Store N.A. position as the price fell. But given the rating was only (lower) Buy and the price is only down 4% since that rating it may be wiser to wait until the next earnings release comes out. Or I may enter some stink bid and see what happens.