October , 2016

On Monday, the S&P 500 rose 0.5% while Toronto was closed for the holiday. Markets were positive on the perception that Trump’s chances are diminishing.

CRH Medical (added to the site yesterday) was up 1.8% in U.S. trading and I bought a few shares at around the closing price today.

Donald Trump claimed during last night’s debate that Warren Buffett took a huge tax write-off. Buffett released a press release today showing that he did not take a massive tax deduction and that he has paid federal taxes every year since 1944 and never once had a loss carry forward (like Trump).

Buffett has pledged to donate every dollar of wealth he has invested in Berkshire. (At $100k per year he takes almost no compensation from Berkshire. The income he lives on comes from his relatively small investments outside of Berkshire – small in relation to his Berkshire wealth, but nevertheless amounting to some hundreds of millions.). Some people attack Buffett for donating his wealth rather than realising the gain and paying taxes. It is a bit “rich” to criticise a man for donating billions in order to save the capital gains taxes on those billions. (Do those critiquing donate $1.00 primarily to save fifteen or twenty cents?). Buffett has kept quiet during the election perhaps because his support of Hillary would not play well with many voters. Trump would be wise not to do anything to draw comments from Buffett.

Oil rose to U.S. $51.35. This may be a temporary gain but it should give comfort that Alberta is not about to collapse economically.