We continue to see mixed signals in the markets. North America and earnings doing well, some of Europe seemingly circling the drain…
Couche-Tard has continued to do well now at $41.50. It may well have been a mistake for me to have sold at around $40. I did well on the company. But I have quite a high opinion of its and I may have snatched only a small victory here when a larger victory was possible. I did place an order to buy half back at $37.60 and it subsequently did get as low as $38.60 a couple of days ago but it does not appear to be headed back to $37.60 anytime soon, if ever. I sold partly just because I have a very high exposure to equities. At first I sold only half the day it “popped” but then it initially started to slip and then recovered and I sold the other half (oops). Anyhow, there probably are better investments… the problem is though to find them. Buffett often suggests when you find a well managed company that seems to have a competitive advantage, just stick with it and don’t be too eager to sell.