October 31, 2016

On Monday, the S&P 500 and Toronto were each about unchanged.

Constellation Software was up 3.9%.

TransForce was up 2.8%.

Both TransForce and Constellation have been excellent investors over the long term following a growth-by-acquisition strategy. TransForce has a period of sickening losses from 2006 tto 2009, but has more than recovered all of that loss and also paid dividends. Anyone who bought near the lows in 2009 and has held has had a spectacular investment despite some volatility since then.

AutoCanada was down 3.7% to $22.05. It will release earnings on Thursday. I would definitely consider adding to my position at this price and in fact did by some on Friday in an account I manage for a family member.

Melcor was down to $12.40. I think people are sort of giving away their shares at that price but time will tell if that is correct.

Oil was down about $1.84 today which may explain the negative sentiment for Alberta-linked stocks.

Statistics Canada reported food services and drinking sales for August. These were down in Ontario but up in 1.4% Alberta despite the energy recession.