On Thursday, the S&P 500 was down 1.5% and Toronto was down 0.3%.
While 1.5% is a sizeable one day drop I don’t really consider it to be that significant in light of how much the U.S market is up since November. When these dips happen, I never know if it is the start of something larger or not. And I don’t think anyone else knows either.
Regarding CRH Medical: I had a lengthy conversation with their CFO today. I had sent in a list of questions mostly to clarify my understanding of the business. I was satisfied with the responses which did clarify and increase my understanding of the company. I think the company will continue to grow. The reductions in the amounts it can collect from insurance companies for its services are a set back but I think the company remains quite viable. The stock price may recover somewhat as they make acquisitions in the next six months. But a bigger recovery will likely take a year or more as the company demonstrates where its earnings stand under the new billing regime. I also noticed that a Board member has bought about $100,000 in additional shares last week.