IPM closed at $1.85 on 55,00 shares. CAT closed at $1.70 and CYX was down to $4.70 on 70,000 shares.
I attended a breakfast meeting last week with Dr. Warren Jestin, the Chief Economist and Vice-President of the Bank Of Nova Scotia. Very upbeat and positive on the Canadian economy and market in general. Confident that interest rates should remain well below those in the U.S. due to strong growth, debt reduction and exports.
Also attended an AGM in Calgary for one of the other stocks I hold. Again, feelings were good and optimism strong (not blind). No doubt this whole Bre-X thing has taken everyone for a spin, but I think it is far too early to close the book on David Walsh and the boys just yet.
One thing that still has me very concerned though, is how our market system is perceived, in light of the circus of the last few weeks. Will this negatively effect foreign investment dollars and financing in Canada? Obviously, until the facts all come out with regards to Bre-X and Indonesia, responsibility and accountability, the answer can only be speculative.
Bobby, (I am assuming you are American), what are your thoughts to the future and credibility of Canadian markets?
Bottom line, IPM is a bargain! Very Best Regards,
Mike |
