July 18, 2017

Tuesday saw the S&P 500 up 0.1% and Toronto down 0.1%.

CRH Medical was down another 10.5% on Toronto. It’s doing a good job of making my opinion on that company look very wrong. Well, time will tell if this was just some big dip from which it will recover or instead the company is simply worth a lot less than I had thought. We will know more when the Q2 earnings report is released.

In better news, Linamar was up 2.0%.

I notice Home Capital is reporting higher liquidity. That comes from higher GIC balances and from some big loans paid back by its borrowers. For whatever reason its high interest savings account balance has not gone up much at all. I think Home Capital is providing very attractive GIC rates (2.5% for on year) but at 1.5% its high interest savings account is not all that attractive. Presumably they prefer GIC deposits which are locked in rather than (so called) high interest savings account where the deposits can leave in a flash as they recently found out.