On Tuesday, the S&P 500 rose 0.7% and Toronto rose 0.1%
Bank of America was up 2.4%. Toll Brothers fell 1.1%. Earlier in the day it got as low as $34 and I grabed a few more shares at $34.17.
Element Financial fell 3.7% to $13.77. Possibly the pull-back is a buying opportunity. The recent announcements I have seen (I have not read them closely) have indicated that it is still growing albeit by acquisition of loan portfolios. About a month ago I saw a couple of IPOs for new lending companies in Canada so it seems like a lot of companies are keen to lend. Who knows how that will turn out. Lending is a business which required particularly good management. It is easy to self-destruct in the lending business. The hope is that Element has good management. I have not bought any but I might. But I won’t buy a large position in it as I do consider it speculative.