May 7, 2020

On Thursday, the S&P 500 was up 1.15% while Toronto was about unchanged.

Markets continue to do well despite the huge unemployment figures and despite some forecasts that suggest that even after the economy reopens unemployment will remain somewhat elevated and GDP will not quickly return to the 2019 level.

I will post an update for Berkshire Hathaway tomorrow. At 114% of book value it offers reasonable value. But a number of its businesses are suffering badly due to COVID-19. I added to my position in it today. But it could get cheaper later this year due to the impact of COVID-19. 

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