If we haven’t hit bottom on the Canadian market, we must be getting there soon. In the month of October, the Canadian market corrected by approximately 10%, and don’t forget the Canadian market prior to the October sell off was pretty much flat for the year. What is intriguing with the Canadian market, is even before the selloff of the market, it was already inexpensive compared to its 5-year average. Here are some interesting numbers, the forward P/E and the actual P/E for the TSX prior to the selloff were approximately 15.5x and 17.5x respectively.
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