Good volume. L2s are strong. 3.18 soon. P/E context.Here's the L2s now:
| 4 | 1500 | 3.05 | 3.08 | 3500 | 1 |
| 1 | 400 | 3.04 | 3.1 | 200 | 1 |
| 1 | 100 | 3.03 | 3.13 | 600 | 3 |
| 2 | 3200 | 3.01 | 3.14 | 3000 | 1 |
| 1 | 200 | 2.98 | 3.18 | 2000 | 1 |
Next stop $3.18.
I was reading about Buffett and some of his biggest plays. He found an insurance play in 1951 trading at a P/E of 1.
Normally I don't think P/E because it can't take into account capital strucute. But, hey, TMB is a P/E of 1.
Crazy! It's ironically been held down by it's capital structure (too much leverage) but given this will be debt free in circa 2021 it will become a P/E play.
A P/E of 1 is crazy. Playing the P/E (price/earnings), as of now is about $310 in price or market cap, and earnings of about $175 LTM or $220M going forward means we are now almost a 2.0 and on a future basis about 1.5. Super cheap. Cheapest in the sector; cheapest on the TSX?? May well be. Buffett's biggest find 65+ years ago was a P/E of 1. Glad I found the same now. Shoot, I found this when it was a P/E of <1.
I also bought abother 5000 shares today under 3.00 so that's good news.