Just when markets seemed particularly gloomy they offered up a strong day on Friday as the S&P 500 rose 1.85% and Toronto rose 1.5%.
Shopify was up another 6.9%. Apple was up 4.7%., Visa was up 2.7%. Starbucks was up 2.4%. American Express was up 2.8%. These are all high quality companies. Over time high quality companies seem to beat value companies. Under-valued companies can offer high returns but may require then getting out if and when the price recovers to a more fair value. High quality, high ROE companies are better suited to buy and hold for the very long term but they rarely trade at what looks like a bargain price.