December 11, 2017

On Monday, the S&P 500 was up 0.3% and Toronto was up less than 0.1%.

Canadian Western Bank was up 1.1% to $38.35. That puts it 51% higher than when it was rated a Strong Buy back on June 3. Not only was that a good return but it seemed like quite a safe bet back then.

Melcor was down 2.9% and trades at half of book value. Given the solid assets, that should make for a very safe investment with good upside. But so far, fear of a decline in land and building values in Alberta and/or a complete lack of interest has kept the price down. Perhaps we can hope for a decent increase to the dividend in 2018, but that announcement is usually not made until mid March.