I sold a big block of Berkshire Hathaway B last month, just in time.

The market had been drifting sideways since last summers highs. More bad news from the Bakken made it an easy decision. The Chinese Central Banks schizophrenic actions regarding monetary policy in the face of their economic problems (prop up the market with obvious and even contradictory "gimmicks" for purely political reasons)also made that a wise decision. And finally, stupid US Federal Reserve policy, to raise interest rates in the face of runaways worldwide deflation, raising the value of the dollar to new highs, and hurting exports, was the third stupid move that made it time to sell (and, helped precipitate this sell off....)

Now, with 2000 points off of the Dow, and RR stocks down quite a bit, the basic of return on investment valuations are kicking in. As your chart shows, at these prices, it's time to buy some of these stocks. Because these US rail stocks (and a number of other depressed US stocks) make real returns that give a way better return than anything you can get holding cash.

Remember the basic rule for most of us long term investors, who need to balance good returns against risk to our limited capital, buy low, sell high.....

And, yes, CP is (and has been despite the self promoting BS) the "paper tiger" of North American railroads, supposedly "cast rich", but clearly returns on investment are "low" as this shows. And, with enough bluster and ego from a certain CEO, as the old math joke goes..."then the miracle occurs"..... Yeah right.....