January 20, 2013 Comments

On Friday we had an okay day in the markets with the Dow and Toronto each up about 50 points. Research in Motion continues as a surprise winner this new year, up another 7% on Friday.

I’ve been reading a few annual reports and hope to have a new company to add to the list before too long.

Warren Buffett in an interview on Sunday morning once again expressed his optimism for the the U.S. and its prosperity over the long run. Those who have dismissed Buffett and his optimism over the past few years (or over the past 60 years for that matter) have generally lived to regret it.

Berkshire Hathaway has had a good year in 2012. I expect it will have had a strong Q4 although Super Storm Sandy may have put some dent in the results. I expect Berkshire shares to hit an all time high this quarter. But that is nothing to brag about. The best companies reach all time highs on a relatively frequent basis. They retain a portion (or even all of ) of their earnings and grow their book values per share and earnings per share and so it is logical that the share price should march higher.


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