September 16, 2015

On Wednesday, the S&P 500 was up 0.9% and Toronto was up 2.2%.

Oil was up about 5% and is at U.S. $47.27 which is really not such a low price.

Most of our stock picks were up: Stantec up 4.3%, Canadian Western Bank up 2.5%.

TransAlta is a troubled company with apparently very poor management. But it was up 5.6% to $6.05. It might be what Buffett refers to as a cigar butt type company. Fundamentally a poor company but selling at such a low price that it might just provide a decent return at this point.

Thursday’s excitement will be about whether the FED raises rates or not. It would be nice if they would get on with it and raise interest rates by a small amount.