September 7, 2014 Comments

Canadian Western Bank is updated and rated Buy at $40.54. This has been a very well managed bank and been an excellent investment over the years. I made the mistake of selling my shares last August (as detailed at that time) due to concerns about their losses caused by the floods in Alberta last year (They have a property insurance division). It turned out the losses were minimal. I compounded that mistake by not buying the shares back at a slightly higher price after it became apparent the losses were minimal. The shares rose a lot in the last part of 2013 which made it even harder to consider buying back into it. Psychologically, it is always hard to buy back into a stock at a higher price. However, I am now ready to do so and I plan to buy some shares.

On Friday the S&P 500 rose 0.5% to another record closing high while Toronto was essentially flat.

Canadian Tire rose 1.0% to $113.95 which is at or close to a record high at it has risen 14.5% this year.

Costco was up 1.5% to a record $127.01 and is up 6.7% this year.

Melcor was down 1.1% to $24.55. It’s still up 22.4% this year but after reaching highs over $27 after RBC has put a target of $35 on it, it now seems to suffer from some lack of interest. Ultimately the share price will be be determined by its earnings performance.

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