June 4, 2014 Comments

On Wednesday, the S&P 500 was up 0/2% and Toronto was up 0.4%.

I added to my Toll Brothers position today based on the update posted earlier today.

The reference article on the valuation of the Toronto stock index is updated. I had to purchase the P/E data from the Toronto Stock Exchange (it used to be posted free). On A GAAP basis the P/E of the Toronto index is apparently 38. However iShares puts the figure at 17.6. Reality may be somewhere in between. I am worried that iShares is too aggressive in assuming that all negative earnings can be set to zero. Nevertheless I used the iShares figure.

I will also shortly update my list of Canadian exchange traded funds and their P/E ratios.

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