Well, Canadian Value Investing reached a milestone today.
It has been quite the journey. I've posted 90 times, had some very lively debates, and most of all I have been able to meet a number of like minded investors. A special thanks to those who emailed during my intense debates. I thoroughly enjoy lively debate and all I ask is that you bring facts not conjecture.
While I have no idea what the next year will bring, I am looking forward to some out sized returns when the US economy returns to some sense of normalcy. Housing will turn the corner eventually as 500,000 housing starts just isn't going to cut it over the long term. When will this happen? I couldn't tell you, but I know it will change sooner than later.
I am worried about Canada and the long term implications of the commodities bubble. If it does pop quickly the restructuring would be hard on our economy. For that reason I am bearish on Canadian Real Estate, Canadian Banks, Oil & Gas, Mining & Materials. It's funny how many of the O&G, mining and material stocks are already pricing in much, much lower commodity prices. I may well be wrong about this, but the great thing about investing is I'm not forced to invest in those sectors. Unfortunately for many Canadian baby boomers this crash may come at a terrible time... right before retirement. I can only hope that the turning of the US housing market occurs at the same time that air is let out of the massive 10 year commodities bubble.
Hope for the best, prepare for the worst.