On Friday, the S&P 500 was up 0.9% and Toronto was up 0.5%.
I spent time reading Melcor‘s annual report today. Based on the numbers Melcor appears to be a clear bargain. There are always scenarios that could happen involving sustained low oil prices and a sustained recession in Alberta where Melcor’s price could fall significantly. But I have generally found that buying companies that appear to be good or great companies selling at what appears to be bargain prices tends to pay off over time.