Friday was a strong day in the markets with the S&P 500 up a hefty 1.9% and Toronto up 0.8%. Shopify was up 5.6%.
Visa Inc. was up 1.8% to $224.31. It’s up 8% since January 1 and about 12% since I updated it as a Buy on December 22 at $201. That the likes of VISA inc. is doing well should not surprise anyone. The lesson I keep learning is that the strongest and consistently high ROE companies almost always do well long term. It’s often better to pay a high P/E multiple for the best companies as opposed to getting a low ROE company at a seeming bargain price.