The Lato Letter: Volume 1, Issue 32.

The Lato Letter: Volume 1, Issue 32.

I have followed the work and writings of Laszlo Birinyi for many years but have never had the privilege of meeting him. In spite of never having met, Mr. Birinyi and Barron’s gave me an early Christmas gift this weekend with the article “Three Stocks for an Aging Bull Market”. The three stocks that Mr. Birinyi recomended were Apple, Sears Holdings and Walgreen’s; all part of the Padlock portfolios.

In addition to the details on why he likes the three stocks, Mr. Birinyi also discusses the reasons he continues to believe that the current equity market still has potential upside. I think that you will find his views on both the stocks and the market very sensible.

The Lato Letter is a market commentary and not a political forum but with the tragedies in Newtown last week, we all, even if we are Canadians, must make our views known on the need to drastically change the access to firearms of all kinds especially in the United States but also in Canada. With heavy hearts for the families at loss, let us hope that the political leaders will create something good from this tragedy.

This will be the last Lato Letter of this year and so I just wanted to thank my clients for their support in making the first year at Padlock a success. We have enjoyed favourable returns both on an absolute and relative basis setting the foundation for the future.

I also would like you to know I will be away from the office after December 21st until January 3rd. After spending Christmas in Toronto with Nick and his girlfriend Kelly, Gini & I will be travelling to Ottawa to spend a few days with Matt and his fiancée Isabel and then off to New York to visit Mary Beth and her boyfriend Joel.

All the best to you and your family over the holidays and best wishes for a happy, healthy and prosperous 2013.

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