Yikes! The financial media had hinted that a correction was overdue and it started a few days after last month's post. Here you can see the TSX decline over the past month, leading to about a 10% loss.
Our test portfolio went into the red that day, giving back all the gains it had accumulated for the past 5 months. Here are the returns on the day after the markets fell out.
We saw from the last few months that Linamar (LNR) performance was certainly disappointing, but it dropped to an all time portfolio low of -15%. Despite the stomach churning drop from the previous day, the test portfolio actually didn't suffer too badly.
So, on to the details. Besides Linamar, West Fraser Timber (WFT) lost money, butonly about 1.5% and Equitable Group (EQB) broke even. The remainder of the stocks didn't seem to be too affected.
Great Canadian Gaming (GC) didn't flinch at all holding at 19%. Gildan Activewear (GIL) and Stantec (STN) both ok at around 7%. CGI at a modest 3%.
Let's hope there's better news next month. Check back in around the middle of November.
