October 24, 2013 Comments

Another day and the markets were up again. This all seems a bit too easy… I am thinking about what positions I might trim…

S&P 500 up 0.3%, Toronto up 0.6%.

As for our Stock Picks, Toll Brothers up 2.3%, Canadian Tire up another 1.0%, Visa up 2.0% to $203.

Less than 24 months ago Visa was under $100. In early 2011 it was under $70 having fallen on some negative news and developments. Ever since I added it to this site in April 2009 at just over $58 and rated Buy I have consistently described it as virtually an unregulated monopoly and when it rose after falling I said it was “hard to keep a good monopoly down”. In May 2011 I rated it a Strong Buy at $79.41. Sadly, I sold my own shares too early. The point is there are times and there are companies where the value seems pretty darn obvious. Visa at times fit that mold. I don’t like it at $203 but it is even clearer now that it was a wonderful bargain in early 2011.

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