Author name: Shawn

Partly due to its recent very strong price gains I have updated the report on lululemon.
Given weaker same-store sales growth figures I'm not sure why the Q3 report was greeted quite so enthusiastically.
Certainly it remains a great company. I had ad...

CWB released a press release at 2:38 eastern time today, Saturday.
As I expected the delay had nothing to do with the take-over transaction by National Bank. It was a late-breaking legal claim for $18 million that included an accusation against a sta...

I received the following good question from a subscriber:
Re: preferred shares buying
? Buy at bid or asking price
I am never successful at bid price
What is your suggestion?
************************************************
The issue here is that pre...

On Friday the S&P 500 was up 0.25% while Toronto was up just 0.05%.
TransAlta was up another 6.5% which is impressive. And Capital Power was up 3.5%.
lululemon was up 15.9% after releasing earnings.
Shopify was up another 4.7%.
Canadian Western B...

It's another non-boring day in the markets with lots of news for Canadian investors.
Canadian Western Bank is down 10% after announcing it will delay its earnings report that was supposed to come out this morning.
This could be a huge over-reaction. ...

On Thursday the S&P 500 was down 0.2% and Toronto was up 0.15%.
TransAlta was up 8.3% and Capital Power was up 6.6%. This after Alberta Premier Smith announced plans to attract (electricity hungry) data centers to Alberta. This may be over-done. ...

On Wednesday the S&P 500 was up 0.6% while Toronto was about unchanged.
Dollarama was down 5.1% after reporting earnings. Apparently its GARGANTUAN margins were down a bit. That's to be expected with our weak dollar. The stock may be over-valued ...

Headlines this morning said that both National Bank and RBC had beaten expectations and raised their dividends.
And yet, National Bank is down 3.3% which pulled Canadian Western Bank down 3.5% (Under the buyout each CWB share will turn into 0.45 of a...

On Tuesday, the S&P 500 was little changed with a 0.05% gain. Toronto was up 0.2%.
The report on RioCan is updated and rated (higher) Buy at $18.96. It's a very solid company. Its assets are financed with just under 50% debt whereas some REITs ha...

Markets are little changed this morning. Oil is moderately higher.
I have updated the yield on BPO.PR.A on the Subscriber home page. It will pay one more dividend at the old rate at the end of December and then is resetting to start paying $1.541 ann...

On Monday the S&P 500 was up 0.2% while Toronto was down 0.2%.
Lightspeed ended the day down 8.9%.
lululemon was up 4.3%. It's a great company. Still, I decided to lighten up on my position but I still hold a reasonable position in the stock.
My ...

The S&P 500 is up 0.3% but Toronto is down 0.5%.
I sent out an issue of the free newsletter focused mostly on the subject of long-term bonds.
Lightspeed is down 7% after announcing that 200 staff will be cut in a reorganization designed to ultima...

With one month to go, 2024 has been a banner year in the markets.
On Friday, the S&P 500 was up 0.6% to 6,032 and the Toronto index was up 0.4% to 25,648.
TFI International was up 2.9%.
Shopify was up 2.3%.
This week we will get the Q4 earnings f...

The most interesting development this morning is that long-term interest rates continue to decline. The yield on the 5 year government of Canada bond is down to 3.02% from as high as about 3.32% last week. The yield on U.S. treasuries is also down to...

U.S. markets were closed on Thursday and Toronto was up 0.2%.
TFI International was up 1.7%.
Friday is likely to be another quiet day in the markets unless there is major geo-political news.
 
...

On Wednesday, the S&P 500 ended the day down 0.4% while Toronto was up 0.3%.
Couche-Tard was up 4.3%.
An inflation measure in the U.S. was higher in October which directionally dampens the outlook for FED rate cuts. Nevertheless, U.S. long-term b...

While the S&P 500 is down 0.5%, Toronto is up 0.25% and a number of stocks are up today.
Couche-Tard is up 3.2%.
Long-term interest rates in both Canada and the U.S. are down somewhat again today.
My recent comments that long-term U.S. bonds were...

On Tuesday the S&P 500 was up 0.6% while Toronto was about unchanged.
Linamar was down 5.6% presumably due to the Trump tariff threats.
Those tariffs also will not be good for lululemon which makes I believe ALL of its cloths outside of the U.S.
...

The situation with the Melcor REIT has changed and is interesting.
In the first go-round, the REIT looked to see if there were any buyers for the 45% of the REIT that trades publicly. They were not able to offer for sale the entirety of the REIT. Any...

On Monday, the S&P 500 rose 0.3% while Toronto was down 0.1%.
Oil was down to U.S. $68.67 which is not good news for Canada.
Toll Brothers was up 6.5%. And perhaps for the same reason, West Fraser Timber was up 5.5%. I don't know the reason for t...

Another interesting day begins in the market.
Melcor has raised its bid for the RIET units from $4.95 to $5.50 and announced a 90 day go-shop period. There was to be a meeting tomorrow and that is now canceled. The dissident unit holders have won at ...

The Brookfield Office Properties rate reset preferred share BPO.PR.A is updated and rated Speculative Buy at $15.70. The fact that these are supported by office properties immediately suggests risk. It's immediate parent Brookfield Property Partners ...

On Friday the S&P 500 was up 0.35% and Toronto was up 0.2%.
Toll Brothers was up 3.4% and has done extremely well despite higher U.S. mortgage rates.
America Express was up 2.8% to $301 and has done better than I had expected.
Starbucks was up 2....

On Thursday the S&P 500 was up 0.5% and Toronto was up 1.4%.
Costco was up 3.0%.
Starbucks was up 1.8%. There are reports it wills sell a portion of its massive China operations to a local Chinese business. That's probably wise but depends on the...

The S&P 500 rallied later on Wednesday to finish unchanged for the day. Toronto was up 0.1%.
Dollarama was down 3.25%. It's been a powerful long term winner but I'm not tempted to add to my small position at this time.
The yield on the 5 year gov...

Markets are modestly lower so far today. Markets are eager to see the Nvidia results after the close.
Statistics Canada released a report on building investment in September. It's shows growth both in residential and non-residential building.
I see t...

On Tuesday, the S&P 500 was up 0.4% and Toronto was up 0.1%.
I notice CWB.PR.D trading at $27.50. It pays a hefty dividend of $1.92 per year. That's 7.0% on the $27.50 price which is indeed attractive. But it's likely to be redeemed in 2029 at $2...

Canadian inflation for October has been reported this morning with a headline year-over-year increase of 2.0%.
That's up from 1.6% in September but that increase is just noise or a bump in the downtrend.
Rent was up 7.3% year-over-year but has been g...

On Monday the S&P 500 was up 0.4% and Toronto was up 0.35%.
Cameco was up 3.8%.
Long term interest rates were little changed today.
...

What's it gonna take to faze the SS&P 500?
With the news that Ukraine has clearance to fire long-range missiles into Russia and with Putin a few weeks ago warning that would amount to NATO attacking Russia, the S&P 500 is UP 0.5% this morning...

On Friday the S&P 500 finally took a breather and was down 1.3% and Toronto was down 0.6%.
In some ways, I would not mind seeing more of the same.  There's probably too much exuberance in the market.
I'm satisfied to be holding some cash and hold...

With two hours to go in the trading say, markets are down somewhat. No surprise after the huge runups.
Bon yields have come down a little and that's a good thing. It would be quite a bad thing if yields on long-term U.S. bonds continued to rise due t...

On Thursday the S&P 500 was down 0.6% while Toronto was up 0.2%.
AutoCanada was a big winner with a 25% gain.
Couche-Tard was up 3.3%
Aecon Group was up 4.1%
TransAlta was up 4.1% after getting Competition Board approval for an acquisition.
Shopi...

Markets are relatively quiet this morning.
But AutoCanada is up 22% after reporting earnings even though it certainly still has its troubles. A pleasant surprise to see the price up this much.
Shopify gave back 4.1% after its recent huge gains.
Aecon...

On Wednesday, the S&P 500 was about unchanged while Toronto was up 0.3%.
Shopify was up another 5.9%.
Bond yields were up modestly today. Bond yields were expected to fall as central banks cut interest rates but they have ben  rising since about ...

Markets are little changed this morning on average.
Although Linamar's results were quite strong, the market is focused on a weaker outlook for its industry segments. Linda Hazenfratz (executive chair and formerly long-time CEO) was on Business News ...

Tuesday was, as they say, a "mixed" day in the markets. The S&P 500 was down 0.3% and Toronto was up 0.5%
The big winner was Shopify, up 21% after releasing Q3 earnings.
Cameco was up 4.6%. Then, after the close it released a technical report on ...

Most of the stocks I monitor are down slightly this morning.
Shopify has soared 24% after releasing earnings. I made a mistake reducing my Shopify position somewhat yesterday. Such is life in the markets.
The story of 2024 has been that almost everyt...

On Monday, the S&P 500 edged up 0.1 to sit at 6001, closing above 6000 for the first time ever.
Toronto was also up 0.1% - despite lower oil prices.
Shopify was up 3.4% and lululemon was up 3.2%.
Stantec was up 3.0% recovery most of its loss on F...

Markets continue to push higher today.
Tesla (not on our list, but a stock I keep an eye on) is up another 6% and has soared about 45% in the past few weeks. It seems the market expects President Trump to blatantly favor this company.
lululemon is up...

On Friday the S&P 500 was up another 0.4% to 5996. During the day it breached the 6000 level! It's stunning to think that if it gets to 6660 next year that will be a 10 bagger on the S&P 500 in the 16 years since its March 9, 2009 financial c...

The report on Stantec is updated and rated Weak / Buy Hold at $112.16. I plan to buy into a modest position with a view to adding on dips.
The only negative I see about the company is that with a trailing price to earnings ratio of 27, it is somewhat...

Melcor Developments posted Q3 earnings. are out. Basically sort of okay overall, never as good as I hope. More of the same.
Lots sold at too low a margin (probably poor cost control). They never give any visibility on rest of year. Q4 is usually thei...

Regarding the takeover offer for the Melcor REIT. The offered price is $4.95 (and no additional distribution) and subject the the majority of the minority holders that vote approving it.
My sources tell me that the deal is unlikely to pass. In tthat ...

Another entertaining day in the markets.
The S&P 500 was up another 0.7% and Toronto was up 0.85%.
Shopify was up 3.9%.
Canadian Tire was up 1.95% after posting "0kay" earnings . Tepid as consumers cut back on discretionary items but it could hav...

Starbucks is rated Weak Buy / Hold at $95.57. The company was doing very well up until the end of calendar 2023 (its Q1 2024). But since then it has reported three poor quarters and fired its CEO, who had come from outside, after not much more than a...

With Trump's decisive victory the S&P 500 surged 2.5% and Toronto rose 1.0%.
Trump has promised lower income taxes and that may be a big part of why stocks moved higher. At the same time, longer term interest rates rose due to inflation fears and...

Yesterday afternoon is well and truly yesterday's news at this point but on Tuesday the S&P 500 was up 1.2% and Toronto was up 0.5%.
Toll Brothers was strong with a 3.9% gain.
So, Trump has had a clear win. Republicans also have a Senate majority...

P.P.P.S,. reading the MD&A at page 7 I now understand (Or think) that the special distribution of taxable income in the form of additional units represents zero value. They will then consolidate away the units we receive and give us the $4.95. I ...

Markets were relatively quite overall on Monday with the S&P 500 down 0.3% and Toronto was unchanged.
Dollarama was up 2.4% to yet another all-time high at $150. AutoCanada was down 5.25% to $14.25. Often the pattern seems to be the strong gettin...

T minus 1!
Markets are relatively calm one day ahead of the U.S election and (at least) two days ahead of knowing the result.
The S&P 500 is down 0.45% and Toronto is down 0.3%.
I mentioned being interested in buying some long term U.S. bonds. Th...

The report on Berkshire Hathaway is updated and rated only Weak Buy / Hold at $452.
I had planned to update Berkshire only yearly after its annual report.
But I wanted to take a look at Berkshire now given that it has been in the news for selling a v...

For I'm pretty sure the first time in my 25 years of running this web site, I'm starting to think 10 and 20 year bonds might not be a bad investment after their recent run-up in price.
I have symbols for bond ETFs in the Canadian Global ETF articles ...

On Friday markets regained some of the ground lost on Thursday. Both the S&P 500 and Toronto were up 0.4%.
Aecon was up a hefty 19% after reporting earnings. It seems I was wrong to lose faith in them. I had been waiting several years for them to...

Markets were, well, spooked by something today and the S&P 500 was down 1.9% and Toronto was down 1.4%.
I consider that to be a fairly minor drop after all the gains this year to date.
(Of course, I would think differently about that 1.9% drop if...

On Wednesday, the S&P 500 ended the day down 0.3% (after being  up most of the day) and Toronto was down 0.2%.
Visa was up 2.9% (as I commented this morning) and I did reduce my position a little in that one.
Capital Power was up 7.7% after relea...

Visa Inc. is up 3.7% this morning at $292. Wow.
I first added Visa to this site rated Buy at (yes) $14.56 on April 19, 2009 rated Buy.  Remember, April 2009 was just past the low point of the Great Financial Crisis and markets had given poor returns ...

Tuesday's market action saw the S&P 500 up 0.2% while Toronto was essentially unchanged.
Linamar was down 3.8% after an analyst downgrade. It's possible that Linamar will be vulnerable to Trump's higher tariffs if he is elected again. With the fr...

Markets were positive on Monday with the S&P 500 gaining 0.3% and Toronto up 0.4% in spite of lower oil prices.
Couche-Tard was notable with a 3.9% gain.
I've added Canadian Natural Resources to the list as a Speculative Buy but have not posted t...

Equity markets are strong this morning.
But bond yields continue to rise which is indicative of inflation fears.
I decided to sell my small position in TransAlta this morning for several reasons:
I have been surprised at its strong gains since late J...

On Friday the S&P 500 was about unchanged on the day while Toronto was down 0.4%.
There were no particularly notable moves in the stocks on our list.
The 5 year government of Canada bond yield rose slight following the lead of U.S. medium and lon...

There is news out this morning about the the proposed Melcor REIT take-private deal where the parent Melcor Developments proposes to buy out the minority unit holders at $4.95 per unit by the end of this year. (They also indicates there will be a div...

I have updated the ratings on almost all of the preferred shares. (The two Brookfield Office Properties were not updated becasue those depend more on the financial outlook for the issuer as opposed to interest rate movements.)
Going back about 5 to 1...

On Thursday the S&P 500 was up 0.2% while Toronto was down 0.1%
TFI International was up 2.3%.
lululemon was up 2.0%
Toll Brothers was up 2.6%
Tesla which is NOT on our list but which I occasionally mention was up 22%!
We are now getting well int...

Shopify is updated and rated Speculative Buy / Hold at Canadian $110 or U.S. $79. It's a great company but quite expensive. I like the idea of a modest position in this company.
...

On Wednesday the S&P 500 was down 0.9% and Toronto was down 0.6%
TFI International was down 2.8%. I'll be tempted to add to that one if it dips a little more. Great company!
Cameco was down 4.5%. As I said recently it's a volatile stock and alway...

So, the bank of Canada cut its overnight inter-bank target rate by 50 basis points to 4.75%.
The 5 year Canada Bond yield market must have anticipated this as that rate is is about unchanged today at 3.0% (actually edged a tiny bit higher)
The Canadi...

On Tuesday the S&P 500 and Toronto each finished the day about unchanged.
Toll Brothers was down 3.5%.
After the close, Starbucks released preliminary results that were quite weak and suspended guidance for its 2025 fiscal year which started at t...

Stocks  were down modestly on Monday with the S&P 500 down 0.2% and Toronto down 0.4%.
Restaurant Brands was up 3.35% to CAN $100.65. I did not see any particular reason for that.
TFI International was down 1.8%. It then reported tepid earnings b...

Friday was yet another positive day in the markets with the S&P 500 up 0.4% and Toronto up 0.5%.
Cameco was up 2.5% on continued optimism about the future of nuclear power. This is likely to always be a volatile stock and not one to take a big po...

On Thursday, the S&P 500 ended the day essentially unchanged while Toronto advanced another 0.5%.
Most of the stocks on our list were up modestly but lululemon retreated 3.6%.
A U.S. retail sales report came in strong which lowers the expectation...

Wednesday was yet another positive day in the markets with the S&P 500 and Toronto each up 0.5%.
Cameco was up 7.5%.
Visa was up 3.0%.
lululemon was up 2.3.
TransAlta was up 2.4%. I've been surprised at the increase in TransAlta given the wholesa...

Tuesday was another somewhat eventful day in the markets.
The S&P 500 was down 0.8% giving back precisely all of Monday's gain. Toronto was closed on Monday and was down 0.1% today.
Fortis Inc was strong with a 2.6% gain
Canadian inflation for Se...

Monday was another day of gains for investors.
Toronto was closed but the S&P 500 rose another 0.7%.
Toll Brothers was up 2.5%.
lululemon was up 3.1%
This week we will start getting a lot of Q3 earnings reports from U.S. companies. This includes ...

On Friday, the S&P 500 was up 0.6% and Toronto was up 0.7%.
TFI International was notable with a gain of 3.65%.
Dollarama was up 2.8%.
Couche-Tard was down 3.4%.
The market seems totally unfazed by the escalating wars in the Middle East. Futures ...

Thursday saw the S&P 500 down 0.2% and Toronto up 0.3%.
There was not much movement in the stocks I track.
TD Bank was in the news and fell 5.0% after its fine from U.S. regulators was finalised. This was for failing to detect money-laundering by...

Wednesday was another winning day for investors with the S&P 500 up 0.7% and Toronto up 0.6%.
West Fraser Timber was up 4.6%. A couple of days ago  Western Forest Products announced the curtailment of a sawmill. West Fraser seems to be very well ...

The report on TFI International is updated and rated (lower) Buy at CAN $185 or U.S. 136.
This has been a fantastically well managed business for decades and continues to be. It looks a little expensive now due to weaker results in 2023. But it appea...

On Tuesday the S&P 500 was up another 1.0% whole Toronto was down 0.1%.
Costco was up 1.9%.
Shopify was up 2.3%.
TFI International was up 2.0%.
Another day when investors mostly made money...
...

Markets may be starting to look at the geo-political risks.
On Monday, the S&P 500 was down 1.0% while Toronto was down 0.25% as higher oil prices benefit the Toronto market.
The yield on the 5 year government of Canada bond pushed a little highe...

On Friday, markets rose after the unexpectedly strong U.S. non-farm Payroll report indicated that 254,000 jobs were added in September.
I find it strange that there seems to be little or no mention of the fact that tis is an ESTIMATE and is subject t...

On Thursday the S&P 500 was down 0.2% and Toronto was down 0.1%.
Stantec was strong with a 3.5% gain.
I see a story on BNN about CIBC and Toronto Dominion banks both pursuing transactions called Significant Risk Transfer or SRT. This involves off...

The S&P 500 was unchanged on Wednesday while Toronto was down 0.1%.
There were no particularly big moves in the stocks on our list. Cameco was up 1.7%.
My next update will be for TFI International.
 
...

On Tuesday, the S&P 500 was down 0.9%. This was likely mostly due to the Iran firing missiles at Israel and fears of what that could mean.
With oil prices rising on those fears, Toronto was up 0.1%.
With the strong market gains this year, it shou...

On Monday markets were initially higher but then got a little spooked when the Fed chair spoke of a gradual approach to lower interest rates. But that fear was short lived and markets finished higher on the day.
The S&P 500 was up 0.4% and Toront...

Toll Brothers is updated and rated Weak Buy / Hold at $155.
This stock is up 51% this year to date. And that's on top of a huge 106% gain in 2023. I've owned and analysed this company and stock since 2011. It has been very volatile at at times. Altho...

On Friday, markets ended the day down moderately with the S&P 500 down 0.1% and Toronto down 0.3%.
Toll Brothers was up 3.1%.
TFI International was down 3.4%.
A key inflation measure in the U.S. came in lower than expected which provides added su...

The report on Apple Inc. is updated but rated only Weak Buy/Hold at $227.
On the one hand I look at how addicted people are to iPhones and smart phones in general and how those "phones" have become an absolute necessity of life. (They really are). An...

Markets pushed a little higher on Thursday with the S&P 500 up 0.4% and Toronto was up 0.5%/
Lightspeed Commerce was up another 4.7%.
Canadian Western Bank was up 2.1% after the Competition Bureau approved its takeover by National Bank. The Disco...

Markets were moderately lower on Wednesday with bot the S&P 500 and the Toronto stock index down 0.2%.
Lightspeed was up almost 13% after news leaked late in the day that it has apparently put itself up for sale hoping to be acquired. That sort o...

Markets were higher yet again on Tuesday as the S&P 500 and Toronto each gained about 0.25%.
Visa Inc. was down 5.5% after the U.S. Justice Department announced plans to sue it for using unfair monopolistic practices to dominate the U.S. debit ca...

On Monday, markets pushed a little higher with the S&P 500 up 0.3% and Toronto up 0.1%.
Cameco was up 3.3% as hoped for a nuclear power revival got a little boost last week.
Toll Brothers was up 2.0% and has had a fantastic run.
After the close T...

Markets were quieter on Friday after the big gains on Thursday.
The S&P 500 was down 0.2% while Toronto was unchanged.
TransAlta was up 5.3%. I'm not at all sure that is justified. Wholesale power prices in Alberta have been quite low for several...

Markets roared higher on Thursday presumably due to the FED lowering interest the overnight inter-bank rates by 50 basis points.
The S&P 500 was up 1.7% and Toronto was up 1.2%.
Some of the many notable gainers included:  Lightspeed was up 5.1%, ...

Wednesday's big news was the FED cutting interest rates by 50 basis points as they felt that inflation has been subdued and now the task is to prevent a recession by starting to lower interest rates. This cut was expected although the market was not ...

Markets were quiet on Tuesday with the S&P 500 about unchanged and Toronto down 0.1%.
TFI International was up 2.4%.
Despite Canada's lower inflation today the 5 year government bond yield did not move down but instead edged up slightly to 2.73% ...

I neglected to make my usual comment last evening. Apologies. As I recall it was a quiet day in the markets yesterday.
There is lots of news for the markets to digest this Tuesday morning.
Canadian inflation came in tame at 2.0% year-over-year and wi...

On Friday the S&P 500 was up 05% and Toronto was up 0.4%.
The Melcor REIT jumped 42% to $4.81 on news that its parent Melcor Developments has offered to buy out the publicly-traded units at $4.95. In addition to the $4.95 per unit, unit holders w...

The report on Restaurant Brands is updated and rated Weak Buy at U.S. $69.18 and Canadian $94.
This is the company that franchises Tim Hortons Burger King, Popeyes and Firehouse Subs.
I was hoping to rate it a Buy but the near-term outlook could be w...

Markets were strong on Thursday with the S&P 500 up 0.75% and Toronto up 1.1%.
CN Rail was up 2.6%.
Toll Brothers was up 3.9% and continues its impressive performance.
At about 7:30 pm Mountain time, Melcor announced that Melcor Developments will...

The report on America Express is updated and rated Weak Buy / Hold at $254.
This is a great company with a very high return on equity of 35%.
The stock is up 36% this year to date and it's up 79% since my previous update on October 22 last year. Its ...

On Wednesday markets started out quite weak but then roared back strongly. The S&P 500 ended the day up 1.1% and Toronto as up 0.9%.
U.S. inflation apparently came in a bit hot which had spooked the market in the morning.
Dollarama was up 8.2% af...

On Tuesday, the S&P 500 was up 0.45% while Toronto was down 0.1%.
After the close, AutoCanada announced that it has sold two dealerships in Alberta in order to pay down debt. It appears that these were two strong dealerships (at least in terms of...

Markets were higher on Monday, recovering some ground that was lost last week.
The S&P 500 was up 1.2% and Toronto was similar with a 1.1% gain,
The Melcor REIT was up 10.4% to $3.49. But it's trading volume is low and so this move may be meaning...

The report on the Boston Pizza units is updated and rated Buy at $16.78. The yield is attractive at 8.1%. There is always a risk that the distribution could be trimmed if more of the restaurants close  or if business declines during a recession. But ...

Markets were lower on Friday with the S&P 500 down 1.7% and Toronto down 0.9%.
Shopify was down 4.1%.
American Express was down 3.1%.
Canada's unemployment rate increased.
I'm becoming more cautious on the market. I'm tempted to reduce some posit...

Thursday was a moderately negative day in the markets with the S&P 500 down 0.3% and Toronto down 0.2%.
The 5 year government of Cañada bond yield is down to 3.85%. It's interesting that it went down about 15 basis points after the Bank of Canada...

On Wednesday, the S&P 500 was down 0.2% while Toronto was unchanged.
RioCan was strong with a 3.6% gain to $19.35. In late June it had dipped as low as $16.29 which seemed like a silly low. I mentioned it on June 17 at $16.54. 
Canadian Tire was ...

Markets were down on Tuesday as the S&P 500 fell 2.1% and Toronto fell 1.3%.
AutoCanada was one of the bigger decliners - down 6.5%.
Cameco was also down 6.5%.
Stocks on the rise included the Minto REIT up 2.1%, and Fortis up 1.8%.
This morning I...

Friday was yet another strong day in the markets with the S&P 500 up 1.0% and Toronto up 0.5%.
The first eight months of 2024 have included some unexpectedly large gains.
Canadian Western Bank up 67% due to the national bank takeover offer.
Dolla...

Happy 94th Birthday to Warren Buffett. He is still going strong. But as he says he knows he is playing in extra innings at this point.
On Thursday the S&P 500 ended the day unchanged while Toronto was up 0.4%.
Canadian GDP came out at 2.1% annual...

Markets were down on Wednesday with the S&P 500 and Toronto each down 0.6%.
Notable moves among the stocks on our list included: Lightspeed down 4.0%, Starbucks down 3.35%, and lululemon down 4.55%.
Canadian Western Bank was up 4.5% to $52.42 bec...

Apologies, as I was not able to make my usual little daily comment yesterday.
On Tuesday, the markets were relatively quiet with the S&P 500 up 0.1% and Toronto down 0.3%.
No big moves today in the stocks we cover. It's nice to see Canadian Weste...

Friday was another strong day in the markets with the S&P 500 and Toronto each up 1.1%.
Toll Brothers was up another 5.3% to $148.72. It's been a great investment this year. I've always said it was well managed but its gains in the face of higher...

Posting from Cape Breton Nova Scotia this Friday morning.
Markets gave back a bit of ground on Thursday with the S&P 500 down 0.9% and Toronto down 0.4%.
There were no noteworthy moves in the stocks on our list.
Workers have returned to the job a...

On Wednesday, the S&P 500 and Toronto were each up 0.4%.
Toll Brothers was up 5.6% on its earnings news. This well-managed company has been a great investment in recent years.
Loblaws is piloting an ultra discount banner store chain in Ontario. F...

A few thoughts on my impressions of things on Florida and up the east coast based on my road trip.
Prices are relatively expensive. Fast food is generally about the same price as in Alberta except I'm paying in U.S. dollars.
I'd say the same about at...

Posting tonight from Milford Connecticut (Day two of a road trip from Tampa Florida to Cape Breton Nova Scotia)
On Tuesday the S&P 500 was down 0.2% and Toronto was down 0.3%
AutoCanada was down 4.3%.
After the close, Toll Brothers reported anoth...

On Monday the S&P was up another 1.0% and Toronto was up 0.3%.
Toll Brothers was up 3.35%.
Couche-Tard is looking at acquiring 7-11 chain from its Japanese owner. This would be a big acquisition but I'm not sure how big and I did not see any deta...

On Friday markets edged a little higher still with the S&P 500 gaining 0.2% and Toronto up 0.1%.
A quiet day overall with no particularly noteworthy moves in the stocks on our list.
I notice CWB.PR.B last traded at $24.63. It's a bit crazy that i...

Greetings from Tampa Florida.
Thursday was yet another strong day in the markets as the S&P 500 rose 1.6% and Toronto was up 1.2%. A strong U.S retail sales report was part of the reason.
Some of the biggest gainers included Shopify - up 4.6% and...

On Wednesday the S&P 500 was up 0.4% and Toronto was up 0.6%.
AutoCanada plummeted 17.6% after releasing terrible earnings and announcing another cyber attack. It was no surprise that earnings were down due the a big cyber attack at their main IT...

On Tuesday, the S&P 500 was up 1.7% and Toronto was up 1.0%.
Starbucks soared 24.5% after announcing that it had canned it's relatively recent new CEO, Laxman Narasimhan and that it has hired the highly successful CEO of Chipotle, Brian Niccol as...

On Monday the S&P 500 was unchanged while Toronto was up 0.4%.
Starbucks was up 2.6% on news that it has apparently reached a settlement with an activist investor.
Linamar was down 4.0%. That may be due to the generally poor outlook for the auto ...

On Friday, the S&P 500 was up 0.5% and Toronto was up 0.4%.
Linamar was down 1% despite reporting strong earnings growth and a positive outlook. Earlier in the day it was down about 3% and I added to my position.
RioCan was about unchanged despit...

The report on Linamar is updated and rated Buy at $62.64. I was very tempted to rate this a (higher) Buy based on its low P/E and low price to book and its recent growth and it outlook. But I want to be a bit cautious given that the auto parts indust...

The report on Canadian Tire is updated and rated Hold at $149. The company managed to report a strong earnings per share increase in Q2 despite a 5.6% drop in same-store sales at its Canadian tire stores. The company faces a weaker consumer environme...

Thursday was a strong day in the markets with the S&P 500 up 2.3% and Toronto up 1.6%.
Canadian Tire was up 7.7% after spotting earnings before the opening of trading. As feared their same-store sales were down noticeably  (4.6% overall and 5.4% ...

On Wednesday markets were higher earlier in the day but closed with the S&P 500 down 0.8% and Toronto down 0.45%.
Shopify was up 17.8% after reporting strong growth.
There will be a number of reports for the market to react to tomorrow.
Stantec r...

The report on Melcor Developments is updated and rated Buy at $12.23. This has not been a good investment going back to 2014 when oil prices fell and home-building slowed greatly in Alberta. Now, Alberta home building is much stronger but the share p...

On Tuesday the S&P partially recovered from yesterday's 3.0% loss as it rose 1.0%.
Toronto played catchup to yesterday's losses (when it was closed) and was down 1.1%.
The yield on the 5 year government of Canada bond rebounded somewhat from rece...

Lightspeed Commerce has been added to our list. It is a speculative stock given that it has been operating at about break-even. But it appears set to report profits going forward and its valuation seems potentially attractive.
I bought a small positi...

U.S. stock markets declined noticeably on Monday in response a 12% loss in the Japanese stock market index and losses in other markets. The decline was triggered by a surprise increase in interest rates by the bank of Japan and by news that Warren Bu...

Markets took a beating on Friday as the S&P 500 was down 1.8% and Toronto was down 2.2%.
This was triggered by a weak jobs report int eh U.S. as people start to fear that a recession is underway. This also pushed interest rates down on the bond m...

Management at Aecon has continued to disappoint me more and more. I've used the recent price increase as an opportunity to exist this company. It's rated Sell at $16.60 ( a price from yesterday). The previous rating was also sell.
In Q2 they reported...

On Thursday, the S&P 500 was down 1.4% and Toronto was down 1.7%. Apparently this was due to concerns about the U.S. economy slowing.
Most stocks were down on the day.
TransAlta managed an 8.6% gain after reporting earnings.
The decline in the Ba...

Investors were in an optimistic mood on Wednesday and sent the S&P 500 up a hefty 1.6% and Toronto up 1.25%.
Most of the stocks on our list were up on the day.
With Facebook / Meta  reporting strong earnings after the close, tomorrow could be ano...

On Tuesday, the S&P 500 was down 0.5% and Toronto was up 0.2%.
Construction company Aecon Group was up 3.3%. This will be my next update. It has been very poorly managed in recent years. While it's possible that its troubles are behind it, that's...

On Monday there was not much movement in the markets overall. The S&P 500 was up 0.1% and Toronto was down 0.15%.
When buying or selling shares of smaller companies and also preferred shares be cautious if they are thinly traded. That can lead to...

West Fraser Timber is updated and rated Sell at U.S. $88 or Canadian $122.
Lumber and and OSB prices are currently relatively low and home renovation activity is low. So it appears that West Fraser's earnings will remain modest in the near term. It's...

Friday was a strong day in the markets as the S&P 500 was up 1.1% and Toronto was up 0.9%.
Toll Brothers was up 5.1%.
West Fraser Timber was up 3.7%. This company will be my next update and so far it looks like I will rate it a Sell.
 
...

Another day with lots of news...
On Thursday, the S&P 500 was down 0.5% and Toronto was down 0.1%.
lululemon got hammered down 9.1% due to analyst downgrades. It's now down 52% from its high reached late last year. It is facing more competition a...

The report on Visa Inc. is updated and rated Buy at $256. It's an incredibly high quality company with a powerful market position. While it's not exactly cheap, the valuation based on the P/E ratio is noticeably lower than its historic average.  It w...

On Wednesday, the S&P 500 was down a hefty 2.3% while Toronto was down 0.8%.
Visa Inc. was down 4.0% after its earnings release.
CN Rail was down 3.25% after releasing earnings and lowering its full year outlook.
As expected, the Bank of Canada l...

On Tuesday the S&P 500 was down 0.2% and Toronto was down 0.3%.
Again today almost all the preferred shares on our list moved a little higher.
CN rail reported Q2 results. Revenue and freight volumes were strong but earnings were disappointing an...

On Monday, the S&P 500 was up 1.1% and Toronto was up 0.8%.
Most of the stock on out list were up today. Toll Brothers and Dollarama were each up 2.0%.
Most of the preferred shares on our list moved a little higher again today.
As mentioned, I li...

The report on Fortis Inc. is updated and rated Buy. It's a steady investment for the long term.
...

On Friday, markets were down for the third day in a row. That's not any real cause for concern given all the gain this year.
On Friday, the S&P 500 was sown 0.7% and Toronto was down 0.2%.
The grocer on our list, Metro Inc. was up 2.6%.
Starbucks...

Markets gave back a little more ground on Thursday with the S&P 500 down o.8% and Toronto down 0.5%.
Toll Brothers bucked the trend with a 2.5% gain.
As mentioned today, the preferred shares on our list are all updated (with the exception of the ...

Rate reset preferred shares have done very well indeed in the past year.
A year ago many rate reset preferred shares were under $20. But they appeared set to offer capital gains as they reset at higher interest rates and because market interest rates...

Markets moved lower on Wednesday - which seems to be a rare thing lately.
The S&P 500 was down 1.4% and Toronto as down 0.6%.
Shopify was down 6.9%.
Toll Brothers was down 3.2%.
West Fraser Timber was up 3.8%.
 
...

On Tuesday, markets had yet another positive day. Most investors will be feeling fat and happy with all these gains.
The S&P 500 was up 0.1% and Toronto was up a hefty 1.1%.
Canadian Tire was up 2.4% to $141. It's going to be interesting to see h...

Did some giant "stop-the-presses" event take place over the weekend? You wouldn't know it from looking at equity markets on Monday where it was business as usual.
The S&P 500 and Toronto were each up an unremarkable 0.3%.
TFI International was st...

The report on the Canadian wine producer Andrew Peller is updated and rated Weak Buy / Hold at $4.03.
Producing wine in Canada is a very tough business. The grape growing end of the business is particularly tough since as Andrew Peller says "The cost...

On Friday the S&P 500 and Toronto were each up about 0.55%.
Most stocks on our list edged higher and there were no particularly notable moves.
US companies have begun reporting Q2 results and that will likely be a focus of the markets next week.
...

On Thursday the S&P 500 was down 0.9% but Toronto was up 0.9%.
U.S. inflation numbers came in tame this morning with a small decrease of 0.1% in prices from May to June. That was the first such month-over-month decrease since May 2020. Inflation ...

Stocks markets continue to be basically on fire.
On Wednesday, the S&P 500 was up another 1.0% and vaulting past the 5600 level for the first time. Toronto did even better this day, rising 1.4%.
Most stocks were higher on the day.
Cameco jumped 9...

On Tuesday the S&P was up 0.1% while Toronto was down 0.4%.
Starbucks was down 2.4% to $72.75. It's 52 week is $108 and it hit over $120 in 2021. The forward P/E ratio is 18.7. It's still a powerhouse world scale brand and I expect it will recove...

The report on WSP Global is updated and rated Weak Buy/Hold at $217. It's a profitable and steady business and likely to rise in the long term. But currently it is expensive in relation to earnings and its earnings growth, while still good,  has slow...

On Monday, the S&P 500 was up 0.1% and Toronto was up 0.3%.
Cameco was down 2.3%.
Starbucks was down 2.0%.
I was expecting Costco to release today the figures for same-store sales in June. But there was no release I believe their "months" always ...

On Friday, the S&P 500 was up another 0.5% while Toronto was down 0.8%.
Apple was up 2.2%.
Linamar was down 2.6%.
Toll Brothers was down 2.3%.
Costco was up 2.7%. I believe it will report same-store sales tomorrow (Monday) after the close. In Jun...

The report on Dollarama is updated and rated (lower) Buy. Due to a high price / earnings level I could just as easily call it a hold. But its likely to continue to do well in the long term. If it does pull back noticeably that will be a buying opport...

The report on Costco is updated and rated Sell at $886.
This is a fantastic company but it seems to me that a trailing adjusted earnings P/E of 56 and a forward P/E of 49 is getting into the realm of irrational exuberance.
But be aware that of 27 ana...

The report on Alimentation Couche-Tard is updated and rated (lower) Buy at $78. This is a tough call at this time. On the one hand it has an absolutely fantastic track record and closed a large acquisition in Europe at the start of this calendar year...

On Thursday Toronto was up 0.1% while the U.S. markets were closed for the holiday.
AutoCanada was down 1.9%. I was going to say this was likely related to the cyber attack on its systems provider but that provider has said that all dealers that it s...

U.S. markets are closed for the holiday. Toronto is up 0.2% and there are no big moves in any of the stocks on my list.
I'm quite interested to see Costco's same-store sales report for June. I expect that to be reported by Monday.
I think at some poi...

Wednesday was another good day to be an investor.
The S&P 500 was up 0.5% and Toronto was up 1.3%.
Tesla was up 6.5% and has now gained about 24% in three days.
Stantec was up 3.2%.
Most of the preferred shares on our list moved a little higher.
...

On Tuesday, the S&P 500 was up 0.6% and Toronto was up 0.4%.
Tesla was up 10.2%.
Dollarama was up 1.9%.
Auto Canada reports that it has permission to relax the debt covenants on its line of credit until September 29 This is due to the unknown imp...

On Monday, the S&P 500 was up 0.3%. Toronto was closed for the holiday.
Tesla was up 6.0% "ahead of reporting its latest delivery numbers". Leak or wishful thinking?
Apple was up 2.9%.
U.S. Treasury yields were up somewhat noticeably.
By the way,...

In the first half of 2024 the S&P 500 is up 14.5%. It's a bit higher if you include dividends. That's hard to compete with.
The Toronto index is up 4.4% and the Dow is up 3.8%.
A reasonable benchmark to compare a typical retirement savings portfo...

Friday marked the last trading day of the first half of the yar.
On Friday, the S&P 500 was down 0.4% and Toronto was down 0.3%.
TFI International was up 2.7%. It's been a fantastic winner over many years.
lululemon was down 3.7%. The market like...

On Thursday the S&P 500 was up 0.1% while Toronto was up 0.7%.
The Enbridge rate reset share ENB.PF.A was up 3.3%. Most of the other rate reset shares were also somewhat higher.
Dollarama was up 2.3%.
I bought some Minto REIT units today after he...

On Wednesday the S&P 500 was up 0.2% while Toronto was about unchanged.
FedEx was a big winner rising 15.5% on cost cutting, higher earnings forecast and the possibility it will sell its ground freight division.
The 5 year government of Canada bo...

On Tuesday, the S&P 500 was up 0.4% while Toronto was down 0.3%.
Toll Brothers was down 2.3%.
After the close, Alimentation Couche-Tard reported Q4 earnings. Earnings were lower than last year and presumably lower than expected. Fuel margins were...

Most stocks were up today. But with Nvidia down 6.7%, the S&P 500 was down 0.1%. Toronto was up 1.4%.
After the close, AutoCanada announced that its dealers were being adversely affected by a cyber attack at its its system provider. This will alm...

Note that today (Monday, June 24) is the last day to sell before the higher capital gains inclusion rate kicks in. And that's becasue "settlement" is now down to one day. Selling today is cutting it very close but I understand qualifies for the lower...

On Friday, the S&P 500 was down 0.2% and Toronto was down 0.1%.
Canada is apparently considering massive tariffs on Chinese Electric Vehicles, which the U.S. and Europe are also doing. I don't know what the tariff is today but I suspect that ther...

The report on Uranium miner Cameco is updated but rated only a speculative Weak Buy.
This stock is up 114% since It was first added to the site on October 30, 2022 rated Highly Speculative Weak Buy as way to play the resurgence in the nuclear power i...

On Thursday the S&P 500 was down 0.25% and Toronto was up 0.30%.
There were no particularly notable moves in the stocks on our list.
Most of the preferred shares edged higher today.
 
...

On Wednesday, the U.S. markets were closed for the Juneteenth Holiday. Toronto was down 0.4%.
Statistics Canada released population estimates as of April 1. Canada's population grew by about 243,000 to 41.0 million.
Alberta gained 49,000 people.
This...

I received the following comment from a subscriber asking for my thoughts:
"The Melcor family owns most of the shares in MR.UN and MRD.  Thus they control the price it is at and keep it at a price that benefits the Melcor Family.  They are getting ol...

On Tuesday the S&P 500 was up 0.25% and Toronto was up 0.1%.
The Canadian Western Bank rate reset preferred share CWB.PR.B was up 3.15% to $23.26 (but some of that came in the last trade of the day). I don't know if the National Bank proposed acq...

On Monday, the S&P 500 was up 0.8% while Toronto was down 0.2%.
The Melcor REIT was down 4.5%. They have not released any recent news about their strategic review.
Apple Inc. was up 2.0%.
Starbucks was up 2.1%.
CMHA released housing starts for Ma...

As of 2:15 pm eastern the S& P 500 is up about 1% while Toronto is down 0.4%. And most of the stocks on our list are down modestly.
Very recently we rated RioCan a Buy at $16.88. Now it's down to $16.54 and I like it a bit more. I am buying some ...

On Friday, the S&P 500 was about unchanged while Toronto was down 0.3%.
Shopify was strong with a 4.6% gain.
Canadian Tire was down 2.3% after an analysts downgrade. And it may well be having a weak quarter. The Spring weather has been wet in Alb...

On Thursday, the S&P 500 managed a 0.2% gain although it looks like the majority of stocks were down. Toronto was down a noticeable 1.2%.
The Energy ETF, XEG was down 3.1%. It's an easy way to bet on the big Canadian oil and gas companies if you ...

On Wednesday, the S&P 500 was up another 0.85% and Toronto was up 0.3%.
The big story for us was Canadian Western Bank up 68%. Not the hoped for 100%. But because this is an all-stock deal that could take 18 months to close and could face regulat...

Canadian Western Bank is trading up about 71% at $$42.77 abut 15 minutes after the open.
Since I was planning to sell I would have liked to see it trade up around $48 or more. The offer price yesterday was indicated to be worth $52.24. But that was b...

After the close today, it was announced that National Bank has agreed to purchase Canadian Western Bank in an all-stock deal. Bases on National Banks' price the premium could be 110%. But National Bank has just done a big subscription receipts sale w...

As of 10:20 am eastern time markets are down. Apple is notable with a 3.4% gain after its developer conference yesterday.
Statistics Canada released building permit data for April and the numbers are very strong with a reported 20% gain. That number ...

On Monday, the S&P 500 and Toronto were each up 0.3%.
There were no particularly notable moves in the individual stocks on our list.
I added a little to my RioCan position today. I like it at $17. But this may be a case of going after sort of nic...

Royal Bank of Canada is updated and rated (lower) Buy at $146.35 or U.S. $106.39.  It's a strong company and will continue to grow over the years. But the near term is uncertain given loan losses and a probably recession. It's had a huge recovery sin...

On Thursday, the S&P 500 was about unchanged while Toronto as up 0.4%.
TFI International was up 3.4%.
lululemon was up 4.8% after its earnings release. It was unable to hang onto all the gains it had in after-hours trading yesterday. When compani...

Wednesday proved to be yet another day where it was good to be an equity investor. The S&P 500 was up a stout 1.2% while Toronto was up 0.8%.
Nvidia (not on out list) was up another 5.2%!
Stantec was up 2.2%. Toll Brothers was up 2.7%. AutoCanada...

On Tuesday, the S&P 500 ended the day up 0.15% after gyrating around somewhat. Toronto was down 0.6%.
Metro was up 2.7%.
Costco was up 1.5% to yet another all-time high of $827. It will report May same-store sales growth in a day or so.
Toll Brot...

The report on Canadian Western Bank is updated and rated Buy at $25.33. The shares in many ways look very much under-valued. But they are forecasting no earnings growth in the next six months although they do forecast loan growth and higher lending s...

lululemon is updated adn rated (higher) Buy at $312. It's a high quality company. It's growth is lower now than its historic torrid pace but it looks to be attractively prices.
Last year on September 9 I updated it and rated it Speculative Buy at $39...

The report on RioCan is updated and rated Buy at $16.88
The unit price is down 9% this year to date. Yet the REIT in many ways is firing on all cylinders. It's occupancy is about 97%. On new leases where a tenant has moved out it has re-leased at an ...

On Thursday, the S&P 500 was down 0.6% while Toronto was up 0.8%.
Royal Bank was extremely strong (for such a stable company) with a 5.2% gain after a strong earnings report.
Costco released a strong earnings report after the close but the shares...

On Wednesday the S&P 500 was down 0.7% while Toronto was down a hefty 1.65%.
Canadian Western Bank was down 3.55% - pulled down by the weaker results and higher losses reported by Bank of Montreal. I'm expecting their earnings report to be good b...