So much for waiting for a pullback. This rally left a bad taste in my mouth last week but now that I am on to my second helping I am starting to get used to it. Luckily for me Faifax hasn't followed suit so I am going to start buying. Now is a good time to mention I'm not a professional; don't follow my advice unless you are willing to see the potential downside.
If I was a wild speculator, with earnings coming out on the 25th and a up to 10% share buyback program initiated recently , AND the recent resistance both above and below the 400-420 range, I might present a 'calm before the storm' argument for this position.
If I was a fundamentalist, I'd see a track record of 15%+ ROE, a great management team in a solid industry, and a trailing PE multiple of 6. Can't complain about that.
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