October 9, 2017

On Monday the S&P 500 was down 0.2% while Toronto was closed.

Costco was down 1.6%. It’s not cheap but may be worth nibbling at due to its recent decline.

Stock futures are up this evening.

Big insurance company AIG (American International Group) is reporting $3 billion in losses from the recent hurricanes. I have not seen much indication that Berkshire Hathaway had major losses (other than at its GEICO division). Presumably it had some losses but likely not enough to create a quarterly loss overall for Berkshire. I believe Berkshire had cut way back on catastrophe insurance as it viewed the going rates as inadequate. If rates have now risen substantially due to the recent hurricanes then Berkshire is probably back in the market. Berkshire did suffer significant losses in its GEICO division related to the hurricanes but again probably not enough to cause a quarterly loss overall for Berkshire.