On Monday, the S&P 500 rose 1.2% and Toronto rose 0.6%.
FirstService was up another 2.25% to $81.68 I have often indicated a great respect for the management of this company but I thought it looked somewhat expensive in December at $58.49. Most of the reason for the gain was an announcement that the company would be split into two separate companies and the associated enthusiasm for that. It also benefits from the lower Candia dollar since it gets most of its revenues in U.S. dollar’s. If I held this, I would sell it, particularly in non-taxable accounts.
Canadian Western Bank was down 2.25% to $27.42. It looks quite attractive at that price but suffers from worries about the Alberta economy.