Lower Power in the Markets These DaysIt appears that the sell Canada theme has sucked a lot of wind out of the tsx venture. While many companies in mining and oil continue to struggle, some companies that are not even Canadian or that are benefiting from the low CDN dollar are trading at record low multiples. Tii, pho, phm, nln, ptg, are all trading between 4x to 6x next years earnings and have significant growth profiles. It may take time to get some wind in the sales again, but we will get there one quarter of a time.
Th funny thing about PHM, its all american. The value keeps inreasing on the exchange rate. I continue to be amazed how "valuation" has been the most ignored component in the market these days.