Friday, October 20, 2017

Money Show 2017 - Ryan Irvine 2

Ryan Irvine spoke in a Friday evening session on "Do it Yourself Stock Investment". Ryan Irvine is the President of Keystone. Part of this session had Aaron Dunn as the speaker. Their site is www.keystocks.com. I went because Keystone has given good talks in past Money Shows. It was a long session so I have broken my report into four parts. This is the second part.

This company looks at small cap growth stocks. For Canadian stocks that is less than $500M and for the US that is less than $5B. Small cap stocks are not necessarily high risk. You can get higher returns from small caps stocks over the longer term. Smaller companies can be more rewarding. They like small caps that are trading at or near P/B Ratio of 1.00. They like especially small cap value stocks.

In 2006 Warren Buffet said that if had a $1M he would invest in smaller companies. He would make a higher return on a $1M company than on a $1B company. But you have to turn over lots of stocks to find the gems to invest in. Small caps lack coverage so you can find bargains. You should buy before the big institutions can by a stock. Big institutions have restrictions on what they can buy. Smaller cap have higher growth prospects. It is easier to go from $0.5M to $1M than from $0.5B to $1B.

Small caps can have higher insider ownership. Many large cap stocks started as small caps. Just investing in one recommendation can be bad as the recommendation can be wrong. Investing in a few small cap recommendations is better.

What you should look for is first a strong balance sheet with lack debt and positive working capital. Next you should look for positive cash flow and earnings growing over time. This is necessary for long term growth. Next you should look for sustainable growth. You can look for alterative valuations. The potential for dividends and dividend growth are good.

Another thing you want is a management team with significant share ownership. You want them to be in a business that can be understood. You would want the company to operate in a safe jurisdiction. You want a company with a positive industry outlook and a niche outlook. Lastly you want a company with a strong track record that meets or exceed their objectives.

A recommendation is Sylogist Ltd (TSX-SYZ, OTC-SYZLF). It has a published mission. It does critical software. Some 62% of their revenue is subscription based. It has zero debt and a strong balance sheet. It has a strong track record in revenue and EBITDA growth and dividend payments. There was a pause in growth in 2017 and you should buy for what it will do in 2018.

If growth is not on a per share basis it does you no good. What you want is growth at a reasonable price. The target for this company is a stock price of $12.15 to $12.45. The company is reinvesting for organic growth.

The next company that they recommended was Photon Control Inc (TSX-PHO, OTC- POCEF). This is on TSX-V. It designs and manufactures optical sensors to original equipment manufacturers (OEMs). Theirs are the sensors for the internet of things in toaster, shoes etc. They have growth in revenue and profit. Their net income peaked in 2015 and they have currency issues and onetime expenses costs because litigation.

Some 25% of their market cap is in cash. They have a large order backlog. They have doubled their manufacturing facility and they are no longer cheap. The trailing P/E Ratio is 20, but if you take out cash it is 16.

Hammond Power Solution Inc. (TSX-HPS.A, OTC-HMDPF) is another recommendation. It was recently recommended. They have been in business for around 100 years. They are a transformer manufacturer. Their quarter two 2017 is strong. Their net earnings jumped. They sell to the resources sector. They built up too fast and the resources sector tanked. Now they are coming back. There is an uptick in business and in the resources sector.

They are now a growth company that is tracking at a discount. There will be driving growth going forward. They will have old growth from resources and new growth from renewables.

On my other blog I wrote today about Trigon Metals Inc. (TSX-TM, OTC-PNTZF)... learn more. Next, I will write about Canadian Pacific Railway (TSX-CP, NYSE-CP)... learn more on Monday, October 23, 2017 around 9 am.

Also, on my book blog I have put a review of the book Maximum Canada by Doug Saunders learn more...

This blog is meant for educational purposes only, and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Thursday, October 19, 2017

Money Show 2017 - Ryan Irvine

Ryan Irvine spoke in a Friday evening session on "Do it Yourself Stock Investment". Ryan Irvine is the President of Keystone. Part of this session had Aaron Dunn as the speaker. Their site is www.keystocks.com. I went because Keystone has given good talks in past Money Shows. It was a long session so I have broken my report into four parts.

If your portfolio is longer than 10 years, you should have 60% to 70% in equity. At Keystone Financial they stress diversification and quality over quantity. If you have too many stocks you are the market rather than being in the market.

The first lesson is to pick a winning strategy. You need a plan of action to achieve a goal. You need a framework for making investment decisions. You need a mindset for consuming and reacting to information. Too much information and too many strategies (growth, value, momentum, short term, long term) can result in overly complicated investing, information overload and poor investment performance. Clear and understandable strategy can provide a focus.

They recommended Boyd Income Fund (TSX-BYD.UN, OTC-BFGIF) on 2008. It is into Auto Body repairs. It is still a good stock. They recommended Brookfield Infrastructure Partners LP (TSX-BIP.UN, NYSE-BIP) in 2011 and it is still a buy as a conservative income stock. Algonquin Power & Utilities Corp (TSX-AQN, NYSE-AQN) in 2012 and it is still a Buy.

The best stocks have a strong profitability and cash flow generation. They are simple and understandable. They have a clear and achievable growth plan. They also have a reasonable valuation and a multi-year time horizon.

Invest in companies that are generating meaningful revenue and earnings from operations. Companies that cannot do this are speculative and are not an investment. People often confuse investment and speculation. The investment model is a company that earns money and reinvests it back into the business. The speculative model earnings money from selling shares but never has generated money to reinvest in the business.

You often get the speculative model in so call investment stocks. If investing is getting into the next big thing then it is speculative. If it does not have revenue and profitability, it is speculative. Until a company can demonstrate feasibility, it is speculative. It is not a lost opportunity; it is just saving money by not investing.

CARP means growth at reasonable price. Cash flow is king. A stock is a piece of a business.

Focused diversification is 8 to 12 stocks selected from different sectors. From this you would get 1 stock that does poorly, 3 stocks that are average, 2 - 3 that do well, 2 will do very well and 2 will be excellent. You should build you position in a stock over 6 to 18 months.

Keystone does exhaustive research. How can you become a great investor? Learn a little bit on every company in the market. There are no short cuts but just hard work. They search high and low and from A to Z in Sedar. They look at every company 3 times a year.

Pick times to sell. If a stock's valuation increases and the stock becomes too expensive. You might rebalance on profit realization. Sell when a stock dominates your portfolio. Sell if a company has deteriorating fundamentals or is missing targets. If Revenue and earnings are declining and it has a negative outlook. Sell if you lose confidence in management.

You do not want to be overexposed in a few or one stock. Sometimes the fundamentals of a company will change. They can change to losing. Ask yourself is this the same company as I bought? You should cut your losses and move on. It is best to take a loss now than hope the fundamentals will change.

Keystone is paid by clients. They do independent and unbiased research. They focus on income stocks with dividend growth, on small cap stocks and on US research.

On my other blog I wrote yesterday about Logistec Corp (TSX- LGT.B, OTC-LTKBF)... learn more. Next, I will write about Trigon Metals Inc. (TSX-TM, OTC-PNTZF)... learn more on Friday, October 20, 2017 around 5 pm

This blog is meant for educational purposes only, and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Tuesday, October 17, 2017

Money Show 2017 - Peter Hodson

Peter Hodson spoke in a Friday afternoon session on "Five Things (times five) Investors need to know: Investors seem to Forget the Basics Always". Peter Hodson is the Editor of Canadian Money Saver Magazine. Their site is www.canadianmoneysaver.ca. I went to this talk because at other Money Shows the Canadian Money Saver has put on great talks. Peter Hodson runs 5iResearch that only provides research. He said he bought his first stock at age 11.

You should never sell a stock just because the stock is down or just because the stock is up.

Dividend growth is more important than dividend yield. High yields can be a problem. When yields get high the stock will probably fall. Some companies do not change their dividends. You can pick a high yield stock if the whole market is down. It is better to buy a stock with a 2% yield that is growing than a 9% yield that is not.

Do not sell too early. Selling too early will never make you rich. You cannot get a 10 bagger if you sell after a stock has just doubled.

High Fees will make you poor. Mutual Fund managers are making too much money. The lower cost of ETFs buying maybe the way you should go. If a Mutual fund has 2.5% fees and the Top 10 stocks are typical, why are you in that Mutual Fund? He had Mutual Funds and his own investments. His own investments were doing better.

Ride your winner stocks. Earning momentum does not change in one quarter. Good news and rising prices attract more investment. Analyst upgrades can be very positive for stocks. Pay attention to what analyst are dong. That is what they are upgrading and what they are downgrading.

Market Capitalization is import we have $100M, 500M and $1B market caps in Canada. When a stock bumps up to a new lever it will attract new investors. Often investors are not interested in a $5 stock, but are when the stock reaches $10. Stocks can shift into a different level or group of investors.

Gambling is not investing.

He does not like share dilutions. He likes companies that never dilute shareholders. Constellation Software Inc. (TSX-CSU) has never issued new shares. For example, you do not want to buy a company that increased their shares 10 times over the past 10 years.

Corporate earnings are the key. Stock prices reflect earrings and earnings trends. Most other news is noise. If earnings are not going up, see why. Canadian companies will struggle because of the rising Canadian dollar.

For interest rates, direction and surprise is the key. Expectation of inflation can change. When rates reverse direction things are changing. Rates are currently going up because of a strong economy.

You should do proper section allocation. Ignore the TSX sector allocation as it has 60% financial and resources. No not invest this way. You do not spend an index. Sectors are based on market cap. There are 11 TSX sectors and you should invest in them all.

Insider buying is more important than insiders selling. There are lots of reasons for insiders to sell. They generally buy because they feel confidence in the company.

Do not focus on quarterly results. The best companies are set up for long term growth that may be at the expense of a quarter or two. However, investors still pay for consistency. 10 days are not import, but 10 years is. You should keep an eye on the longer term.

High debt can destroy a company faster than anything else. Avoid companies with high debt whenever possible. For example, Concordia International Corp (TSX CXR) has debt to cash flow of 2times to 3 times. Avoid companies with debt to cash flow of 4 times to 5 times. It is hard to bankrupt a company with no debt.

When a stock pays its first dividend that is a bullish sign from a small or mid cap. You start small and grow.

He likes insider ownership. Insiders need to own shares not options. You should compare insider's salary to ownership. For example, the insiders at Constellation Software Inc. (TSX-CSU) are committed.

Find companies with a competitive edge. Alpha, Google and Facebook all have a competitive edge. Companies might have patents, a cost advantage or market share. Cineplex Inc. (TSX-CGX) has 70% of the market, so this is good.

Ignore target prices. Credit Suisse once said to sell Netflix at $1.50 and it is now $175. Target prices can cause you to trade. They are highly inaccurate at the best of times. There are too many factors to consider other than a company when setting target prices.

New issues are sold not bought. They often have 5% commissions. You should stick with what you know.

Do not be afraid of high valuations and say that a company at 30 P/E Ratio is too high. Do not be afraid as there may be a reason for it. Big winners are expensive. A great, great company does not go down very much. If you want a stock, just buy it.

Do not get cute. If you want a stock, just buy it. If you want to sell a stock, just sell it. You should make a decision and move on.

Sell your losers first. Generally a stock is down for a reason. Losers move down and winners move up. If you bought a stock at $30 and it is now $5 and you want it to go back to $30. That would take a lot to do. Do not average down. If you are wrong about a stock at $25, you will not be right about it at $10.

Hope is not a winning strategy.

Do not have too many stocks. 30 stocks are enough.

Time is your biggest ally. If markets are at record highs everyone is winning. Today's peak is the next decade's trough. Facebook at $17 in 2012 and now is $171.

After you do fundamental valuation, you should look at technical analysis.

On my other blog I wrote yesterday about Teck Resources Ltd. (TSX-TCK.B, NYSE-TCK)... learn more. Next, I will write about Logistec Corp (TSX- LGT.B, OTC-LTKBF)... learn more on Wednesday, October 18, 2017 around 5 pm.

This blog is meant for educational purposes only, and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Thursday, October 12, 2017

Money Show 2017 - John Collier

John Collier spoke in the afternoon session on "The Biggest Breakthrough in Desalination". John Collier is from Reliable One Resources. Their site is www.reliableoneresources.com. I went to this talk, not because I was interested in investing in this alternative investment, but because I was interested to hear what they were doing.

There are 8 to 9 different processes to treat water and do desalination. By 2035 some two thirds of people will face water scarcity.

There are earth quakes in Oklahoma from 1978 to the current. There have been a 1,000 times more quakes because water is injected into the ground. Oklahoma's water is contaminated and salty. Water produced from Oklahoma's oil fields used to be injected into the earth. It cost $16 a barrel to dispose of water. With Reliable One Resources they can take out minerals etc and sell them and the water and it costs the oil companies $0.

The company is building a new plan in Pennsylvania. They get revenue from cleaning water. Revenue is from the oils, minerals and water resale. They can desalinize water efficiently. Their solutions are very cost effective. This is a win for everyone.

On my other blog I wrote yesterday about Enbridge Income Fund Holdings Inc. (TSX-ENF, OTC-EBGUF)... learn more. Next, I will write about HNZ Group Inc. (TSX-HNZ, OTC- CDHPF)... learn more on Friday, October 13 around 5 pm.

This blog is meant for educational purposes only, and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Tuesday, October 10, 2017

Money Show 2017 - Sid Mokhtari

Sid Mokhtari spoke in the afternoon session on "Using Systematic Processes for Investment Decisions". Sid Mokhtari is a Chartered Market Technician and Executive Director of CIBC World Markets. Their site is www.CIBC.ca.

Basically he talked about only buying when a stock has momentum. Momentum can drag your stock up. He said with analysts there are momentum guys, value guys and growth guys. He said that using momentum stocks do the best with value next and growth further behind. What he suggests is to buy value stocks when they have momentum.

He likes quantitative guys and their strategies. He looks at 9 monthly trend strategies. He said to be on the right side of a trend and buy with the momentum. He said to buy stocks that break out to the upside. He uses 180 day moving averages. This is a simple way to measure a trend. That is using a moving average.

He says to pick stocks that are trending. This is carpe momentum that is "seize the moment" in Latin. Funds use momentum, value and growth. The best returns are tied to momentum methodology. However, things that go up fast can fall fast also.

CIBC came up with 10 stocks to buy this month and sell at the end of the month. This is First Asset U.S. TrendLeaders Index ETF (CAD Hedged) with a symbol of SID on the TSX. See information this this ETF here. CIBC customers have done well with this system.

You can do different momentum tests and trend tests to pick stocks. Always make stock picking a system and a process.

On my other blog I wrote today about Linamar Corporation (TSX-LNR, OTC-LIMAF)... learn more. Next, I will write about Enbridge Income Fund Holdings Inc. (TSX-ENF, OTC-EBGUF)... learn more on Wednesday, October 11, 2017 around 5 pm.

This blog is meant for educational purposes only, and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Thursday, October 5, 2017

Something to Buy October 2017

There is always something to buy in the stock market. On Tuesday, I put out a list of the stocks that I covered and showed what stock might be a good deal based on dividend yield. Now I am trying to categorize what sorts of stocks may be a good deal based on dividend yield.

The advantages to using dividend yield to judge how cheap or expensive a stock is, is that you are not using estimates or old data (like last reported quarter's data). You are using today's stock price and today's dividend yield.

For other testing, like using P/E Ratios and Price/Graham Price Ratios, you use EPS estimates or from the last reported financial quarter. When using P/S Ratios, P/CF Ratios or P/BV Ratios you are using data from the last reported financial quarter.

This system does not work well for old Income Trust companies. These companies had quite high Dividend Yields which will probably never be seen again. So I started a column called VT (for Valid Test) and this applies to checking stock price using dividend yield. If not a valid test I use N to show this. For these stocks, you might be better comparing the current dividend yield to the 5 year median dividend yield.

However, no system is perfect. But if you are interested in buying a stock a list of stocks cheap or reasonable using dividend yield data might be a good place to start.

Categorizing stocks is not as simple as it might seem. Every site you go to has categorized stocks a bit differently. I try to keep this as simple as possible. See Something to Buy October 2017 Spreadsheet to see what stocks are showing whether a stock is relatively cheap based on historical high dividend yields (P/Hi), historical average dividend yields (P/Ave), historical median dividend yields (P/Med) or on 5 year median dividend yields (P/5Yr). As in other spreadsheets, you can highlight a line or a number of lines for better viewing.

In the following notes I am only going to list stocks showing as cheap using the historical high dividend yields (P/Hi) and historical median dividend yields (P/Med).

I follow 22 stocks in the Consumer Discretionary category. One of these stocks is showing as cheap by the historically high dividend yield and that is Newfoundland Capital Corp (TSX-NCC.A). Eight (or 36%) are showing cheap by historical median dividend yield. They are DHX Media Ltd. (TSX-DHX.A, OTC-DHXMF), Dorel Industries (TSX-DII.B), Goeasy Ltd. (TSX-GSY, OTC-EHMEF), High Liner Foods (TSX-HLF, OTC-HLNFF), Leon's Furniture (TSX-LNF); Magna International Inc. (TSX-MG), Newfoundland Capital Corp (TSX-NCC.A) and Reitmans (Canada) Ltd. (TSX-RET.A). Canadian Tire Corp (TSX-CTC.A, OTC-CDNAF) is being removed from cheap by historically median dividend yield.

I follow 12 Consumer Staples stocks. No companies are showing as cheap by the historically high dividend yield. Five stocks (or 42%) are showing cheap by historical median dividend yield. These are Alimentation Couche-Tard (TSX-ATD.B, OTC-ANCUF), Empire Company Ltd (TSX-EMP.A, OTC-EMLAF), Jean Coutu Group Inc. (TSX-PJC.A, OTC-JCOUF), Loblaw Companies (TSX-L, OTC-LBLCF) and Metro Inc. (TSX-MRU, OTC-MTRAF). Empire Company Ltd (TSX-EMP.A, OTC-EMLAF) is no longer showing as cheap by historically high dividend yield. .

I only follow two Health Care stocks and both are US stocks. None of these stocks are showing as cheap by the historically high dividend yield. They are both cheap by the historical median dividend yield. The stocks are Johnson and Johnson (NYSE-JNJ) and Medtronic Inc. (NYSE-MDT). This is the same as for last month.

I follow 12 Real Estate stocks. None of these stocks are showing as cheap by the historically high dividend yield. Four stocks (or 33%) are showing cheap by historical median dividend yield. They are Artis REIT (TSX-AX.UN, OTC- ARESF); Granite Real Estate (TSX-GRT.UN, NYSE-GRP.U) and Melcor Developments Inc. (TSX-MRD, OTC-MODVF). There is no change from last month.

I follow 8 Bank stocks. None are showing as cheap by the historically high dividend yield. Two stocks (or 25%) are showing cheap by the historical median dividend yield. These stocks are Bank of Nova Scotia (TSX-BNS, NYSE-BNS), and CIBC (TSX-CM, NYSE-CM). National Bank of Canada (TSX-NA, OTC-NTIOF), Royal Bank of Canada (TSX-RY, NYSE-RY) and Toronto Dominion Bank (TSX-TD, NYSE-TD has been deleted from this list as cheap by historical median dividend yield.

I follow 12 Financial Service stocks. None are showing as cheap by the historically high dividend yield. Eight (or 67%) stocks are showing cheap by the historical median dividend yield. These stocks are Accord Financial Corp (TSX-ACD, OTC-ACCFF), AGF Management Ltd (TSX-AGF.B), Alaris Royalty Corp (TSX-AD, OTC-ALARF), CI Financial (TSX-CIX), Equitable Group Inc. (TSX-EQB, OTC-EQGPF), Gluskin Sheff + Associates Inc. (TSX-GS), IGM Financial (TSX-IGM) and Power Corp (TSX-POW). This is the same as last month.

I follow 5 Insurance stocks. None are showing as cheap by the historically high dividend yield. Three stocks (or 60%) are showing cheap by historical median dividend yield. These stocks are Great-West Lifeco Inc. (TSX-GWO); Manulife Financial Corp (TSX-MFC) and Power Financial Corp (TSX-PWF). Sun Life Financial (TSX-SLF, NYSE-SLF) has been deleted from this list.

I follow 31 Industrial stocks. Because I have so many and Industrial is not very descriptive, I have divided my Industrial stocks into 4 separate categories under Industrial. They are Construction, Industrial, Manufacturing and (Business) Services.

I have 6 Construction stocks. None are cheap by the historically high dividend yield. Two stocks or 33% are showing as cheap by historical median dividend yield. They are and SNC-Lavalin (TSX-SNC, OTC-SNCAF) and Stantec Inc. (TSX-STN, NYSE-STN). There is no change from last month.

I have 3 stocks I have left with the sub-index of Industrial. None are cheap by the historically high dividend yield. Two stocks or 67% are showing as cheap by historical median dividend yield. They are Finning International Inc. (TSX-FTT, OTC-FINGF), and Russel Metals (TSX-RUS, OTC-RUSMF). There is no change from last month.

I have 7 Manufacturing stocks. None are showing as cheap by the historically high dividend yield. Four stocks or 57% are showing as cheap by historical median dividend yield. They are Exco Technologies Ltd. (TSX-XTC, OTC-EXCOF), Hammond Power Solutions Inc. (TSX-HPS.A, OTC-HMDPF), Intertape Polymer Group Inc. (TSX-ITP, OTC-ITPOF) and PFB Corp (TSX-PFB, OTC-PFBOF). There is no change from last month.

I have 15 Services stocks. None are showing as cheap by the historically high dividend yield. Four stocks or 27% are showing as cheap by historical median dividend yield. These stocks are Canadian National Railway (TSX-CNR, NYSE-CNI), Pason Systems Inc. (TSX-PSI, OTC-PSYTF), Transcontinental Inc. (TSX-TCL.A, OTC-TCLAF) and Wajax Corp (TSX-WJX, OTC-WJXFF). Wajax Corp (TSX-WJX, OTC-WJXFF) and been added to this list.

I follow 8 Material stocks. None are showing as cheap by the historically high dividend yield. One stock or 14% is showing as cheap by historical median dividend yield and that stock is Methanex Corp (TSX-MX, NASDAQ-MEOH). This is the same as for last month.

I follow 10 Energy stocks. No stock is showing as cheap by the historical high dividend yield. There are four stocks (or 40%) showing cheap by historical median dividend yield. They are Canadian Natural Resources (TSX-CNQ, NYSE-CNQ), Ensign Energy Services (TSX-ESI, OTC-ESVIF); Mullen Group (TSX-MTL, OTC-MLLGF) and Suncor Energy (TSX-SU, NYSE-SU). Ensign Energy Services (TSX-ESI, OTC-ESVIF) is no longer showing as cheap by the historical high dividend yield. Cenovus Energy Inc. (TSX-CVE, NYSE-CVE) is no longer showing as cheap by the historical median dividend yield.

I follow 8 Tech stocks. None are showing as cheap by historical high dividend yield. Five stocks (or 63%) are showing cheap by historical median dividend yield. They are Absolute Software Corporation (TSX-ABT, OTC-ALSWF) Computer Modelling Group Ltd. (TSX-CMG, OTC-CMDXF), Evertz Technologies (TSX-ET, OTC-EVTZF), MacDonald Dettwiler & Assoc. (TSX-MDA, OTC-MDDWF), and Sylogist Ltd (TSXV-SYZ, OTC-SYZLF). There is no change from last month.

I follow 8 of the Infrastructure type utility companies. None are showing as cheap by historical high dividend yield. Two stocks (or 25%) are showing cheap by historical median dividend yield. They are AltaGas Ltd (TSX-ALA, OTC-ATGFF) and Enbridge Inc. (TSX-ENB, NYSE-ENB). This is the same as last month.

I follow 12 of the Power type utility companies. None are showing as cheap by the historically high dividend yield. Four stock (or 33%) are showing cheap by historical median dividend yield. Those stocks are Algonquin Power & Utilities Corp (TSX-AQN, NYSE-AQN), ATCO Ltd (TSX-ACO.X, OTC-ACLLF), Canadian Utilities Ltd (TSX-CU, OTC-CDUAF) and Emera Inc. (TSX-EMA, OTC-EMRAF). Canadian Utilities Ltd (TSX-CU, OTC-CDUAF has been added.

I follow 4 of the Telecom Service type utility companies. No stock is showing cheap by the historical high dividend yield. Four stocks (or 100%) are showing cheap by historical median dividend yield. These stocks are BCE (TSX-BCE, NYSE-BCE), Quarterhaill Inc. (TSX-QTRH, NASDAQ-QTRH), Shaw Communications Inc. (TSX-SJR.B, NYSE-SJR) and Telus Corp (TSX-T, NYSE-TU). There is no change from last month.

The last stock I wrote about was about was Le Chateau Inc. (TSX-CTU.A, OTC-LCUAF)... learn more. The next stock I will write about will be K-Bro Linen Inc. (TSX-KBL, OTC-KBRLF)... learn more on Friday, October 06 around 5 pm.

This blog is meant for educational purposes only, and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk . The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Tuesday, October 3, 2017

Suzanne's Upcoming Art Exhibit

Suzanne Gorenflo has a picture in the upcoming Artists' Network show at the Blue Crow Gallery
Exhibition Dates: October 4, 2017 to October 30, 2017
Theme is: Don't Sweat the Small Stuff

Place: Blue Crow Gallery
1610 Gerrard Street East (Near Coxwell)

Painting: Kensington Market Grande Dame 20 Kensington Avenue


Dividend Stocks October 2017

First I want to point out that not all of the stocks I follow are great investments. I follow a diverse selection of stocks. There are some that I would never invest in personally. I follow a number of resource stocks even though I personally have little invested in this area. I follow what I find interesting and with resource stocks, I think it is important for Canadians to know what is happening in the resource area. On the other hand I do follow of good number of great dividend growth stocks.

The theory is that you should use the dividend yield to see if a dividend stock is selling at a stock price that is relatively cheap. A stock price is considered cheap if it is selling at a dividend yield higher than the historical high yield or higher than the historical average yield or historical median yield. See my spreadsheet at dividend growth stocks that I just updated for October 2017.

On this list,
  • I have 1 stocks with a dividend yield higher than the historical high dividend yield,
  • I have 36 stocks with a dividend yield higher than the historical average dividend yield
  • I have 63 stocks with a dividend yield higher than the historical median dividend yield and
  • 59 stocks with a dividend yield higher than the 5 year average dividend yield.
When I did my list last list in June 2017,
  • I have 3 stocks with a dividend yield higher than the historical high dividend yield,
  • I have 38 stocks with a dividend yield higher than the historical average dividend yield
  • I have 67 stocks with a dividend yield higher than the historical median dividend yield and
  • 63 stocks with a dividend yield higher than the 5 year average dividend yield.
When I did my list in January 2014,
  • I had 9 stocks with a dividend yield higher than the historical high dividend yield,
  • I had 45 stocks with a dividend yield higher than the historical average dividend yield and
  • 39 stocks with a dividend yield higher than the 5 year average dividend yield.
If you had one share of each stock, total dividends last month would be $157.04. This month dividends would be $158.12. (Change in dividends due to US/CDN currency change.) Of the stock that I follow 0 stocks has raised their dividends since last month.

Also, of the stocks that I follow, 0 stocks decreased or suspended their dividends.

Most of my stocks started out as Dividend Payers. Currently 13 stocks are not paying any dividends and this would be some 10.3% of the stocks that I follow. Three of these stocks never had dividends, so 8.39% of the stocks I follow have suspended their dividends. The three stocks that never paid dividends are Ballard Power Systems Inc. (TSX-BLD, NASDAQ-BLDP0, Blackberry Ltd. (TSX-BB, NASDAQ-BBRY) and Trigon Metals Inc. (TSX-TM, OTC-PNTZF).

I am showing whether a stock is relatively cheap based on historical high dividend yields (P/Hi), historical average dividend yields (P/Ave), historical median dividend yields (P/Med) or on 5 year median dividend yields (P/5Yr). See these fields on the right side of the file. You can highlight a particular stock using your cursor to highlight the appropriate line.

There are always some stocks to buy because they are priced reasonably. There are always stocks to currently avoid because they are overpriced. Looking at dividend growth stocks that are selling at stock prices that give them a dividend yield above the historical median dividend yield are probably the best bet.

The stocks that are selling at prices that give them a dividend yield above the historical high yield could be good stocks to buy. However, these stocks may be selling so cheap because of current troubles, especially financial troubles and should be treated with caution. Do not forget that I have all the stocks I follow on this spreadsheet and some are much better investments than others.

You should always investigate a stock before you buy. Sometimes different stocks in certain sectors are just out of favour or the stock market is just in one of its declines. However, a stock may be relatively cheap because it has problems. That is why you should always investigate a stock before buying.

Looking at stock this way is equivalent to a stock filter. A main problem I know of is for the old income trusts. These companies have generally lowered their dividend yields forever and they will probably never get back to the old dividend yield highs they made as an income trust company. For these stocks, you might be better comparing the current dividend yield to the 5 year median dividend yield. I also started a column called VT (for Valid Test) and this applies to checking stock price using dividend yield. If not a valid test I use N to show this.

Also, on some stocks I have a lot more information years in my spreadsheets than for other stocks. So, finding a stock on the list as "cheap" is only the first step in finding a stock to buy. This is the same with any other sort of stock filters that you can use.

The last thing to remember is that I have entering figures into a spreadsheet. I could put them in incorrectly, I can transpose figures and I can misread figures. This is another great reason why you should check a stock out before investing. As this is just a filter, it works better on some stocks than on others.

See my entry on my methodology in establishing the historical dividend yield highs and lows for the stocks that I cover. I have an entry on my introduction to Dividend Growth. You might want to look at my original entry on Dividend Growth Stocks. I have also written about why I like Dividend Growth companies.

On my other blog I wrote yesterday about Granite REIT (TSX-GRT.UN, NYSE-GRP.U)... learn more. Next, I will write about Le Chateau Inc. (TSX-CTU.A, OTC-LCUAF)... learn more on Wednesday, October 4, 2017 around 5 pm

This blog is meant for educational purposes only, and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my website for stocks followed and investment notes. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter or StockTwits. I am on Instagram with #walktoronto.

Thursday, September 28, 2017

Money Show 2017 - Stephen Moore

Stephen Moore spoke in the opening ceremonies on "Let's call it Trumponomics: Can it work for Investors and Workers". Stephen Moore is Distinguished Visiting Fellow of the Heritage Foundation. Their site is www.heritage.org. The Heritage Foundation is a conservative think tank.

He thinks that America will regain prosperity. He is optimistic of the US economy because of Trumponomics. Most politicians are charismatic in public and jerks in private. Trump is a jerk in public and charismatic in private.

He is pro-Trump. He thought the odds of him winning were 20 to one. Even on the election night at 6:30 pm Hillary's pollsters said she had a 95% chance of winning.

The single biggest story currently is shale oil and gas. The oil and gas boom has outpaced the US economy. It is a good news story. The US, Canada and Mexico will out-produce the Middle East. We will not need to buy oil from the Middle East (a terrorist region).

The falling cost of energy is great for the consumers who can now spend what they would have spent on energy on other things. The future is $50 barrels of oil. It will never go back up to $100 a barrel again. We are not running out of oil and gas. So far green industries cannot survive without massive Government subsidies.

We are in the start of a bull market. We have had the worse recovery since WWII. It has been a long and shallow recovery. In an average recovery the economy grows 29%. In the current one it has grown by 14.9%. Obama raised taxes and he raised spending. With Reaganomics, Regan said that the government is not the solution, it is the problem. Reagan grew the economy 36%. Obama grew the economy 14.9%.

Last year the economy under Obama the GDP growth was 1.6%. With Trump the economy grew 3%. It is now growing at 3.4%. The 1970's were not that flat in growth. If you take inflation into account, it went down.

Kennedy said that the tax rates were too high and the revenues were too low. This is surprising for a democrat. Current US corporate rates are high at 40% with the rest of the world having rates of 20 to 25%. Canada has corporate tax rates of 20 to 25% and US companies are moving to Canada. Ireland has rates of 12.5%. He would like to see US rates cut to 20% to make the US more competitive.

If rates were cut it would be good for the US market. There is a healthy debate going on about whether or not a tax cut is priced into the market. There is a 50-50 change of a tax cut to 20%.

We have had years of risk aversion even with low interest rates. The war on business is over with Obama gone. This is positive for the markets. Education and Health care costs have gone up a lot. They are government control but are a third party payer system. Education in Northwestern is $63,000 a year.

The years for tech to get into homes at the rate of 50% have changed. It took the phone 71 years for 50% penetration. It took the iPod 4 years. In 1987 the cell phone was like a brick and it cost $4,000. Tech will liberate people.

There is a new engine without spark plugs that will increase the gas engines efficiency by 30 to 40%. He will bet on it against the electric cars. He bets that a natural gas car will make the electric cars look like a bad idea.

If growth goes up to 3.5% to 4% then the debt problem goes down. Health case is a mess, but republicans are not good at this. There needs to be tax cuts for the republicans to retain power. He does not think that Trump will get impeached. He thinks there is only a 2 to 3% chance of that happening.

In Illinois 1 out of every 4 tax dollars go to pensioners. California is also in financial trouble.

On my other blog I wrote yesterday about Great-West Lifeco Inc. (TSX-GWO, OTC-GWLIF)... learn more. Next, I will write about Gluskin Sheff + Associates Inc. (TSX-GS, OTC-GLUSF)... learn more on Friday, September 29, 2017 around 5 pm.

This blog is meant for educational purposes only, and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Tuesday, September 26, 2017

Money Show 2017 - Edward Yardeni

Edward Yardeni spoke in the opening ceremonies on "Trump World". Edward Yardeni is President of Yardeni research Inc. Their site is yardeni.com.

Ever since Trump was elected we have been in a reality show. However, 8 years of deal makers might be good for the economy. Under Obama the economy did well despite the government.

Trump had promised to the drain the swamp that is the government in D. C. However, Trumps has been sucked into the swamp.

The way things are going it seems that Trump may not get anything done. He seems to be his own worst enemy. The US founders founded a system not to work and it does not work.

The only solution to the problem in North Korea is for China to swat this guy. China wants the South China Sea and trade in exchange for denuclearizing North Korea.

We are in a long Term bull market. It is expensive to get into the market. However, if you are in the market you should stay in it. Globalization is not new. We had that also before WWI. Free trades are good for consumers, but it is the only class that it is good for.

Our demographics are deflationary. All over the world we are not growing population except for India and Africa. Since 2011 Japan had more people dying than being born. We are all going down the same road. China is going that way. China could go the way of japan. It will run out of steam instead of crashing.

He favors dividend stocks.

On my other blog I wrote yesterday about Trican Well Service Ltd (TSX-TCS, OTC-TOLWF)... learn more. Tomorrow, I will write about Great-West Lifeco Inc. (TSX-GWO, OTC-GWLIF)... learn more on Wednesday, September 27, 2017 around 5 pm.

This blog is meant for educational purposes only, and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Thursday, September 21, 2017

Money Show 2017 - Benjamin Tal

Benjamin Tal spoke in the opening ceremonies on "Where in the World Are We". Benjamin Tal is Deputy Chief Economist at CIBC Capital Markets. Their site is CIBC.ca.

Should you be trading Trump? No you should not. Trump is but a blip. Trump has not changed the markets at all. Prior to Trump the US economy had a GDP growing at 2.1% and today the GDP is 2.1%. The global economy is doing well. The Trump market is up but so is Japan and France. Something is going on, but it is not Trump.

The global economy is responding to the Central Banks. The global economy's potential is slowing down. We are all turning into Japanese. The Japanese economy has been trying to move for the past 20 years. Part of this is due to demographics. Benjamin Tal believes that China is slowing and it is not growing at 6.5%.

In Europe, all have survived the elections in Netherlands and France and will survive the German election. You cannot put Germany and Italy together and expect good things to happen. Brexit was the big story for 6 to 7 months, but Teresa May does not know what to do. Nothing is happening in the UK, but Brexit is not positive for the UK.

Trump is a blip, but his message is not. Long term employment in the US is lower than prior to 2008. US wages are low for many workers so there are a lot of people on disability. The reality is that Trump does not have a solution. When Trump cannot get jobs back, his voters will vote for the extreme left.

Canada has the most educated in the OECD, but this has not translated into jobs. People are not educated for the jobs of today. This is the number one issue facing our society. Trump is the messenger for people crying for jobs. We have jobs without people and people without jobs. This is the Japanese problem. Canada and the US are becoming the North American version of Japan.

In the US the companies' earnings will not match expectations. So the US market will fall. Trump may lower taxes and this will help small caps. However, Trump needs China more than China needs the US. China must be part of the solution. The taxing of China's goods will impact badly poor people.

It is the consumer markets in developing countries that will be the future. If the US tax on China cuts off selling goods to China this will hurt US manufacturing. Canada and Mexico are now friends, but if NAFA changes then Trudeau will change sides to the US side. The Bank of Canada will slow down rate increases. Financials are a good bet for the future and they will do better. Canada has the best economy but the lowest market results.

On my other blog I wrote yesterday about Telus Corp. (TSX-T, NYSE-TU)... learn more. Tomorrow, I will write about Wajax Corp. (TSX-WJX, OTC- WJXFF)... learn more on Friday, September 22, 2017 around 5 pm.

This blog is meant for educational purposes only, and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Tuesday, September 19, 2017

Money Show 2017 - Jaime Purvis

Jaime Purvis spoke in the opening ceremonies on "The Canadian ETF Outlook: What's in Store for ETFs in the New Year". Jaime Purvis is Executive Vice President of Horizons ETFs. Their site is Horizonsetfs.com.

Currently Horizon has Benchmark ETFs, Active ETFs and Beta Pro ETFs. There are new classes of ETFs coming on the market such as new Tech ETFs as well as Marijuana ETFs, Robotics ETFs and Cyber Securities ETFs. ETF companies have a tendency to grow and then consolidate, then grow then consolidate. The Mutual Fund companies will probably also grow and then consolidate. Also US companies are moving into Canada.

Mutual Fund companies are now moving into ETFs. There was the Client Relationship Model 2 (CRM2) where investments firms are required to report all fees that their clients are paying. ETFs are noted for their low fees.

The Mutual Fund companies are still growing but their growth is slower than for ETF companies. ETFs funds have grown by 21% since 2016. The growth in actively managed funds is about 30% of ETFs.

Mutual Fund companies going into ETFs include Mackenzie, CI Investments, Franklin Templeton, AGF, Desjardins and Manulife Investments. They all are known for actively management but they do track the indexes. Funds that track an index are quasi ETFs.

It is interesting that in Colorado when they legalized marijuana, beer sales fell.

There are a lot of indexes in the US. In fact there are more indexes in the US than stocks. A lot of the indexes are flawed. What is working for stocks does not necessarily work for fixed income. The innovation in Canada is the growth of actively managed ETFs. There are some 157 of these ETFs in Canada.

People are now doing covered calls and options using ETFs.

On my other blog I wrote yesterday about Accord Financial Corp (TSX-ACD, OTC- ACCFF)... learn more. Tomorrow, I will write about Telus Corp. (TSX-T, NYSE-TU)... learn more on Wednesday, September 20, 2017around 5 pm.

This blog is meant for educational purposes only, and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Thursday, September 14, 2017

Money Show 2017 - Gordon Pape

Gordon Pape spoke in the opening ceremonies on "Where Next? The Outlook for Canada in 2018". He said that for the economy we had
  • 1.1% Growth in GDP in the second quarter of 2017
  • 0.9% First quarter of 2017
  • 1.9% Increase in Household spending
  • 2.3% increase in exports of goods and services
  • 65,700 increase in manufacturing jobs, and
  • 6.3% unemployment, which is the lowest since 2008
Most stock markets have done well so far in 2017 with
  • Hong Kong up by 27.1%
  • India up by 21.2%
  • France up by 14.16%
  • NASDAQ up by 19.4%
  • Dow Jones up by 11.1%
  • S&P500 up by 10.4%, but
  • TSX is down by 0.5%.
The thing is that the US has companies that we do not like Health Care which is up over 17% this year. Canada just does not have the range the US market has. The only strong area in Canada is gold.

There is trouble ahead as strong growth is wanted. In Canada, energy is still in trouble. Our housing market will slow. The NAFTA renegotiation creates uncertainty. Our higher interest rates will hit the Loonie. The overvaluation of the NY market will trigger a sell off.

He thinks that there will be more interest rates rises in Canada this year. He worries about the NY market being really over valued with a P/E Ratio of 24. There is a 10 to 15% correction coming and the TSX will follow.

He says that we should not overweight our portfolio with Canadian stock. We need to diversity internationally. He thinks we should take profits as appropriate and have some cash on hand. It might be good to invest in the EU as their stock markets are undervalues. We could also invest in the Far East. He would stay out of the US market for now.

He would not advise us to bail out of the market entirely. This is never a good idea. No one knows where the markets will go. He has a web site of www.buildingwealth.ca.

On my other blog I wrote yesterday about Smart REIT (TSX-SRU.UN, OTC-CWYUF)... learn more. Tomorrow, I will write about Just Energy Group Inc. (TSX-JE, NYSE-JE)... learn more on Friday, September 15, 2017 befor 8 am.

This blog is meant for educational purposes only, and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Tuesday, September 12, 2017

Money Show 2017

I want to start blogging about this show with my overall impression. As usual, they had some very good speakers in the opening ceremonies. Also the speaker line up for Canadian Money Saver magazine was again very good. This series of talks on Saturday is aimed at a general audience and would be fine for investors at all levels.

What I like is that Canadian Banks are returning to this conference. They all left a few years ago. This year CIBC and BMO were there. I miss the TD bank and especially their economic talks. One surprise was the difference in the CIBC speakers. In the opening Benjamin Tal was very, very good. This contrasted with the very boring talk by Si Mokhtari. I would normally found Sid's subject of interest, but the presentation left much to be desired.

Another surprise was the Friday evening talk put on my Keystone Financial Publishing Corp and Ryan Irvine. This was great talk and very informative. Because of this I went to the Saturday talk by Ryan Irvine but this was a mistake. It was just a repeat of the part of the Friday night talk and so I left.

On my other blog I wrote yesterday about High Liner Foods (TSX-HLF, OTC-HLNFF)... learn more. Tomorrow, I will write about Smart REIT (TSX-SRU.UN, OTC-CWYUF)... learn more on Wednesday, September 13, 2017 around 5 pm.

This blog is meant for educational purposes only, and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Thursday, September 7, 2017

Something to Buy September 2017

There is always something to buy in the stock market. On Tuesday, I put out a list of the stocks that I covered and showed what stock might be a good deal based on dividend yield. Now I am trying to categorize what sorts of stocks may be a good deal based on dividend yield.

The advantages to using dividend yield to judge how cheap or expensive a stock is, is that you are not using estimates or old data (like last reported quarter's data). You are using today's stock price and today's dividend yield.

For other testing, like using P/E Ratios and Price/Graham Price Ratios, you use EPS estimates or from the last reported financial quarter. When using P/S Ratios, P/CF Ratios or P/BV Ratios you are using data from the last reported financial quarter.

This system does not work well for old Income Trust companies. These companies had quite high Dividend Yields which will probably never be seen again. So I started a column called VT (for Valid Test) and this applies to checking stock price using dividend yield. If not a valid test I use N to show this. For these stocks, you might be better comparing the current dividend yield to the 5 year median dividend yield.

However, no system is perfect. But if you are interested in buying a stock a list of stocks cheap or reasonable using dividend yield data might be a good place to start.

Categorizing stocks is not as simple as it might seem. Every site you go to has categorized stocks a bit differently. I try to keep this as simple as possible. See Something to Buy September 2017 Spreadsheet to see what stocks are showing whether a stock is relatively cheap based on historical high dividend yields (P/Hi), historical average dividend yields (P/Ave), historical median dividend yields (P/Med) or on 5 year median dividend yields (P/5Yr). As in other spreadsheets, you can highlight a line or a number of lines for better viewing.

In the following notes I am only going to list stocks showing as cheap using the historical high dividend yields (P/Hi) and historical median dividend yields (P/Med).

I follow 22 stocks in the Consumer Discretionary category. One of these stocks is showing as cheap by the historically high dividend yield and that is Newfoundland Capital Corp (TSX-NCC.A). Nine (or 41%) are showing cheap by historical median dividend yield. They are Canadian Tire Corp (TSX-CTC.A, OTC-CDNAF), DHX Media Ltd. (TSX-DHX.A, OTC-DHXMF), Dorel Industries (TSX-DII.B), Goeasy Ltd. (TSX-GSY, OTC-EHMEF), High Liner Foods (TSX-HLF, OTC-HLNFF), Leon's Furniture (TSX-LNF); Magna International Inc. (TSX-MG), Newfoundland Capital Corp (TSX-NCC.A) and Reitmans (Canada) Ltd. (TSX-RET.A). Newfoundland Capital Corp (TSX-NCC.A) being cheap by historically high dividend is new.

I follow 12 Consumer Staples stocks. One company is showing as cheap by the historically high dividend yield and that company is Empire Company Ltd (TSX-EMP.A, OTC-EMLAF). Five stocks (or 42%) are showing cheap by historical median dividend yield. These are Alimentation Couche-Tard (TSX-ATD.B, OTC-ANCUF), Empire Company Ltd (TSX-EMP.A, OTC-EMLAF), Jean Coutu Group Inc. (TSX-PJC.A, OTC-JCOUF), Loblaw Companies (TSX-L, OTC-LBLCF) and Metro Inc. (TSX-MRU, OTC-MTRAF). There is no change from last month.

I only follow two Health Care stocks and both are US stocks. None of these stocks are showing as cheap by the historically high dividend yield. They are both cheap by the historical median dividend yield. The stocks are Johnson and Johnson (NYSE-JNJ) and Medtronic Inc. (NYSE-MDT). This is the same as for last month.

I follow 12 Real Estate stocks. None of these stocks are showing as cheap by the historically high dividend yield. Four stocks (or 33%) are showing cheap by historical median dividend yield. They are Artis REIT (TSX-AX.UN); Granite Real Estate (TSX-GRT.UN) and Melcor Developments Inc. (TSX-MRD. H & R Real Estate Inv. Trust (TSX-HR.UN, OTC-HRUFF) has been deleted from the list.

I follow 8 Bank stocks. None are showing as cheap by the historically high dividend yield. Five stocks (or 63%) are showing cheap by the historical median dividend yield. These stocks are Bank of Nova Scotia (TSX-BNS, NYSE-BNS), CIBC (TSX-CM, NYSE-CM), National Bank of Canada (TSX-NA, OTC-NTIOF), Royal Bank of Canada (TSX-RY, NYSE-RY) and Toronto Dominion Bank (TSX-TD, NYSE-TD). Royal Bank of Canada (TSX-RY, NYSE-RY) has been added to this list as cheap by historical median dividend yield.

I follow 12 Financial Service stocks. None are showing as cheap by the historically high dividend yield. Eight (or 67%) stocks are showing cheap by the historical median dividend yield. These stocks are Accord Financial Corp (TSX-ACD, OTC-ACCFF), AGF Management Ltd (TSX-AGF.B), Alaris Royalty Corp (TSX-AD, OTC-ALARF), CI Financial (TSX-CIX), Equitable Group Inc. (TSX-EQB, OTC-EQGPF), Gluskin Sheff + Associates Inc. (TSX-GS), IGM Financial (TSX-IGM) and Power Corp (TSX-POW). This is the same as last month.

I follow 5 Insurance stocks. None are showing as cheap by the historically high dividend yield. Four stocks (or 80%) are showing cheap by historical median dividend yield. These stocks are Great-West Lifeco Inc. (TSX-GWO); Manulife Financial Corp (TSX-MFC), Power Financial Corp (TSX-PWF) and Sun Life Financial (TSX-SLF, NYSE-SLF). There is no change from last month.

I follow 31 Industrial stocks. Because I have so many and Industrial is not very descriptive, I have divided my Industrial stocks into 4 separate categories under Industrial. They are Construction, Industrial, Manufacturing and (Business) Services.

I have 6 Construction stocks. None are cheap by the historically high dividend yield. Two stocks or 33% are showing as cheap by historical median dividend yield. They are and SNC-Lavalin (TSX-SNC, OTC-SNCAF) and Stantec Inc. (TSX-STN, NYSE-STN). There is no change from last month.

I have 3 stocks I have left with the sub-index of Industrial. None are cheap by the historically high dividend yield. Two stocks or 67% are showing as cheap by historical median dividend yield. They are Finning International Inc. (TSX-FTT, OTC-FINGF), and Russel Metals (TSX-RUS, OTC-RUSMF). There is no change from last month.

I have 7 Manufacturing stocks. None are showing as cheap by the historically high dividend yield. Four stocks or 57% are showing as cheap by historical median dividend yield. They are Exco Technologies Ltd. (TSX-XTC, OTC-EXCOF), Hammond Power Solutions Inc. (TSX-HPS.A, OTC-HMDPF), Intertape Polymer Group Inc. (TSX-ITP, OTC-ITPOF) and PFB Corp (TSX-PFB, OTC-PFBOF). Intertape Polymer Group Inc. (TSX-ITP, OTC-ITPOF) is new to this list.

I have 15 Services stocks. None are showing as cheap by the historically high dividend yield. Three stocks or 20% are showing as cheap by historical median dividend yield. These stocks are Canadian National Railway (TSX-CNR, NYSE-CNI), Pason Systems Inc. (TSX-PSI, OTC-PSYTF) and Transcontinental Inc. (TSX-TCL.A, OTC-TCLAF). There is no change from last month.

I follow 8 Material stocks. None are showing as cheap by the historically high dividend yield. One stock or 14% is showing as cheap by historical median dividend yield and that stock is Methanex Corp (TSX-MX, NASDAQ-MEOH). This is the same as for last month.

I follow 10 Energy stocks. One Stock or (10%) is showing as cheap by the historical high dividend yield. It is Ensign Energy Services (TSX-ESI, OTC-ESVIF). There are five stocks (or 50%) showing cheap by historical median dividend yield. They are Canadian Natural Resources (TSX-CNQ, NYSE-CNQ), Cenovus Energy Inc. (TSX-CVE, NYSE-CVE), Ensign Energy Services (TSX-ESI, OTC-ESVIF); Mullen Group (TSX-MTL, OTC-MLLGF) and Suncor Energy (TSX-SU, NYSE-SU). This is the same as for last month.

I follow 8 Tech stocks. None are showing as cheap by historical high dividend yield. Five stocks (or 63%) are showing cheap by historical median dividend yield. They are Absolute Software Corporation (TSX-ABT, OTC-ALSWF) Computer Modelling Group Ltd. (TSX-CMG, OTC-CMDXF), Evertz Technologies (TSX-ET, OTC-EVTZF), MacDonald Dettwiler & Assoc. (TSX-MDA, OTC-MDDWF), and Sylogist Ltd (TSXV-SYZ, OTC-SYZLF). There is no change from last month.

I follow 8 of the Infrastructure type utility companies. None are showing as cheap by historical high dividend yield. Two stocks (or 25%) are showing cheap by historical median dividend yield. They are AltaGas Ltd (TSX-ALA, OTC-ATGFF) and Enbridge Inc. (TSX-ENB, NYSE-ENB). This is the same as last month.

I follow 12 of the Power type utility companies. None are showing as cheap by the historically high dividend yield. Three stock (or 25%) are showing cheap by historical median dividend yield. Those stocks are Algonquin Power & Utilities Corp (TSX-AQN, NYSE-AQN), ATCO Ltd (TSX-ACO.X, OTC-ACLLF) and Emera Inc. (TSX-EMA, OTC-EMRAF). There is no change from last month.

I follow 4 of the Telecom Service type utility companies. No stock is showing cheap by the historical high dividend yield. Four stocks (or 100%) are showing cheap by historical median dividend yield. These stocks are BCE (TSX-BCE, NYSE-BCE), Quarterhaill Inc. (TSX-QTRH, NASDAQ-QTRH), Shaw Communications Inc. (TSX-SJR.B, NYSE-SJR) and Telus Corp (TSX-T, NYSE-TU). There is no change from last month.

The last stock I wrote about was about was Exchange Income Corp. (TSX-EIF, OTC-EIFZF)... learn more. The next stock I will write about will be ATCO Ltd. (TSX-ACO.X, OTC- ACLLF)... learn more on Friday, September 8, 2017 before 8:30 am.

This blog is meant for educational purposes only, and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk . The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Tuesday, September 5, 2017

Dividend Stocks September 2017

First I want to point out that not all of the stocks I follow are great investments. I follow a diverse selection of stocks. There are some that I would never invest in personally. I follow a number of resource stocks even though I personally have little invested in this area. I follow what I find interesting and with resource stocks, I think it is important for Canadians to know what is happening in the resource area. On the other hand I do follow of good number of great dividend growth stocks.

The theory is that you should use the dividend yield to see if a dividend stock is selling at a stock price that is relatively cheap. A stock price is considered cheap if it is selling at a dividend yield higher than the historical high yield or higher than the historical average yield or historical median yield. See my spreadsheet at dividend growth stocks that I just updated for September 2017.

On this list,
  • I have 3 stocks with a dividend yield higher than the historical high dividend yield,
  • I have 38 stocks with a dividend yield higher than the historical average dividend yield
  • I have 67 stocks with a dividend yield higher than the historical median dividend yield and
  • 63 stocks with a dividend yield higher than the 5 year average dividend yield.
When I did my list last list in August 2017,
  • I have 2 stocks with a dividend yield higher than the historical high dividend yield,
  • I have 36 stocks with a dividend yield higher than the historical average dividend yield
  • I have 66 stocks with a dividend yield higher than the historical median dividend yield and
  • 64 stocks with a dividend yield higher than the 5 year average dividend yield.
When I did my list in January 2014,
  • I had 9 stocks with a dividend yield higher than the historical high dividend yield,
  • I had 45 stocks with a dividend yield higher than the historical average dividend yield and
  • 39 stocks with a dividend yield higher than the 5 year average dividend yield.
If you had one share of each stock, total dividends last month would be $157.56. This month dividends would be $157.04. However this is being reset because of Canam stock being delisted this month. Of the stock that I follow 10 stocks has raised their dividends since last month. Dividends raises are denoted in green.

Badger Daylighting Ltd (TSX-BAD, OTC-BADFF)
Bank of Nova Scotia (TSX-BNS, NYSE-BNS)
Canadian Imperial Bank of Commerce (TSX-CM, NYSE-CM)
Equitable Group Inc. (TSX-EQB, OTC-EQGPF)
Finning International Inc. (TSX-FTT, OTC-FINGF)

Hardwoods Distribution Inc. (TSX-HWD, OTC-HDIUF)
Newfoundland Capital Corp (TSX-NCC.A, TSX-NCC.B)
Royal Bank of Canada (TSX-RY, NYSE-RY)
Saputo Inc. (TSX-SAP; OTC-SAPIF)
Valener Inc. (TSX-VNR, OTC-VNRCF)

Also, of the stocks that I follow, xx stocks decreased or suspended their dividends.

Most of my stocks started out as Dividend Payers. Currently 13 stocks are not paying any dividends and this would be some 10.3% of the stocks that I follow. Three of these stocks never had dividends, so 8.39% of the stocks I follow have suspended their dividends. The three stocks that never paid dividends are Ballard Power Systems Inc. (TSX-BLD, NASDAQ-BLDP0, Blackberry Ltd. (TSX-BB, NASDAQ-BBRY) and Trigon Metals Inc. (TSX-TM, OTC-PNTZF).

I am showing whether a stock is relatively cheap based on historical high dividend yields (P/Hi), historical average dividend yields (P/Ave), historical median dividend yields (P/Med) or on 5 year median dividend yields (P/5Yr). See these fields on the right side of the file. You can highlight a particular stock using your cursor to highlight the appropriate line.

There are always some stocks to buy because they are priced reasonably. There are always stocks to currently avoid because they are overpriced. Looking at dividend growth stocks that are selling at stock prices that give them a dividend yield above the historical median dividend yield are probably the best bet.

The stocks that are selling at prices that give them a dividend yield above the historical high yield could be good stocks to buy. However, these stocks may be selling so cheap because of current troubles, especially financial troubles and should be treated with caution. Do not forget that I have all the stocks I follow on this spreadsheet and some are much better investments than others.

You should always investigate a stock before you buy. Sometimes different stocks in certain sectors are just out of favour or the stock market is just in one of its declines. However, a stock may be relatively cheap because it has problems. That is why you should always investigate a stock before buying.

Looking at stock this way is equivalent to a stock filter. A main problem I know of is for the old income trusts. These companies have generally lowered their dividend yields forever and they will probably never get back to the old dividend yield highs they made as an income trust company. For these stocks, you might be better comparing the current dividend yield to the 5 year median dividend yield. I also started a column called VT (for Valid Test) and this applies to checking stock price using dividend yield. If not a valid test I use N to show this.

Also, on some stocks I have a lot more information years in my spreadsheets than for other stocks. So, finding a stock on the list as "cheap" is only the first step in finding a stock to buy. This is the same with any other sort of stock filters that you can use.

The last thing to remember is that I have entering figures into a spreadsheet. I could put them in incorrectly, I can transpose figures and I can misread figures. This is another great reason why you should check a stock out before investing. As this is just a filter, it works better on some stocks than on others.

See my entry on my methodology in establishing the historical dividend yield highs and lows for the stocks that I cover. I have an entry on my introduction to Dividend Growth. You might want to look at my original entry on Dividend Growth Stocks. I have also written about why I like Dividend Growth companies.

The last stock I wrote about was about was Alimentation Couche-Tard Inc. (TSX-ATD.B, OTC-ANCUF)... learn more. The next stock I will write about will be Exchange Income Corp. (TSX-EIF, OTC-EIFZF)... learn more on Wednesday, September 06, 2017 around 5 pm.

This blog is meant for educational purposes only, and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my website for stocks followed and investment notes. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter or StockTwits. I am on Instagram with #walktoronto.

Thursday, August 31, 2017

Dividend Growth Stocks 2

The thing is that stocks may not be currently growing their dividends now as they did in the past. Times change and the economic conditions for certain stocks can change. So I thought it would be interesting to see for the stocks I talked about Tuesday what the current growth is compared to the growth I had.

In looking at Royal Bank of Canada (TSX-RY, NYSE-RY) I noticed that my dividend growth over the past 22 was at 11.60% per year. However, the dividend growth on this stock over the past 5 and 10 years is lower at 9.00% and 8.93% per year.

For Bank stocks the slowdown has happened since banks had trouble in 2008. There were no increases in 2009 and 2010. There is only one year of 2014 with an increase of 12.20% where the increase was at or above my growth rate of 11.60%.

For SNC-Lavalin Group Inc. (TSX-SNC, OTC-SNCAF) the current dividend growth rates are lower also and the slowdown occurred after 2011. For this stock, the problem was the scandal that occurred in 2012. You can read about this with an article at CBC News.

For SNC-Lavalin Group Inc. my dividends grew at 17.64% per year over the 19 year period I held them. Currently the dividends have growth at 4.36% and 13.24% per year over the past 5 and 10 years. As the sandal was handled by the company, they are doing better and you can see that in the current higher growth in dividends. The last increase was in 2017 and it was for 5%.

For Metro Inc. (TSX-MRU, OTC-MTRAF) the dividend growth is slightly lower. For the 13 years I held this stock I have had a growth rate of 18.63% per year. The current growth rates over the past 5 and 10 years are at 17.30% and 14.52% per year. The last increase was in 2017 and it was for 16.1%

For the Canadian Tire Corp (TSX-CTC.A, OTC-CDNAF) stock that I have held for 17 years, I have an average growth of 13.39% per year. Currently the dividend growth is stronger with the 5 and 10 year growth at 15.90% and 13.30% per year. The last increase was in 2017 and it was for 13%.

For Emera Inc. (TSX-EMA, OTC-EMRAF) during the 12 years I held this stock my dividend growth rate was 9.35% per year. On this stock the current growth rate is slightly lower with 5 and 10 year growth rates at 8.73% and 8.41% per year. The last increase was in 2016 and it was for 10%.

For Canadian Real Estate Investment Trust (TSX-REF.UN, OTC-CRXIF), for the 11 years I held this stock, I have a distribution growth rate of 4.50% per year. Currently, the 10 year growth in distribution is lower and the 5 year growth rate is higher. Currently the 5 and 10 year distribution growth rate is 4.95% and 3.49% per year. The last increase was in 2017 and it was for 2.2%.

For the stock that I follow, when look at 5 and 10 year dividend growth rates, I find that 50% of the stock have 5 year growth higher than the 10 year growth. Some 47% of my stocks have a 5 year growth rate lower than the 10 year rate. Some 3% have the same growth over the past 5 and 10 years.

On my other blog I wrote yesterday about Badger Daylighting Ltd. (TSX-BAD, OTC- BADFF)... learn more. Tomorrow, I will write about Chemtrade Logistics Income Fund (TSX-CHE.UN, OTC-CGIFF)... learn more on Friday, September 1, 2017 before 11am. I have another Friday road trip.

This blog is meant for educational purposes only, and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Tuesday, August 29, 2017

Dividend Growth Stocks

Why you buy dividend growth stocks is because you can get some really good dividend yields when you hold the stocks for some year. The longer you hold a stock the higher the dividend yield on your stock's purchase price. This is how you win in the stock market.

I bought Royal Bank of Canada (TSX-RY, NYSE-RY) in 1995. On my original purchase, I am making a 47.9% dividend yield. Say I spent $10,000 on this stock on 1995. That means that in the current year I will make $4,790 in dividends after holding this stock for some 22 years. When I bought this stock, I got a 4.27% dividend yield. Of course Canadian Banks are some of the best dividend payer on the TSX.

Another example is Canadian Tire Corp (TSX-CTC.A, OTC-CDNAF). I bought this stock in 2000 so I have had this stock for some 17 years. When I bought this stock it had a 1.79% dividend yield. This year I will earn 11.7% on my original purchase price. So if I paid 10,000 for this stock in 2000, I will get $1.170 in dividends this year. This is a Consumer Discretionary stock.

The next one is a Consumer Staple stock. They tend to have low yields, but good growth. I bought Metro Inc. (TSX-MRU, OTC-MTRAF) in 2004 some 13 years ago. When I bought this stock the dividend yield was 1.87%. This year I am earning 11.04% on my original purchase price. So that means I will get $1,104 in dividends this year.

Another example is SNC-Lavalin Group Inc. (TSX-SNC, OTC-SNCAF) which I bought in 1998 some 19 years ago. When I purchased this stock it had a 2.35% dividend yield. On my original purchase price I am making a yield this year at 32.12%. This means if I had paid $10,000 for this stock, this year I would get $3,212 in dividends.

An example I have of a utility is Emera Inc. (TSX-EMA, OTC-EMRAF). I bought this stock in 2005. They have a good dividend, currently at 4.36% and low growth. When I bought this stock it had a 4.70% dividend yield. The 5 and 10 year dividend growth is at 8.7% and 8.4% per year over the past 5 and 10 years. This year I am earning 11.03% in dividends. So if I invested $10,000 initially, I would get $1,103 in dividends this year after some 12 years.

The examples would not be complete without a REIT. REITS tend to have moderate to good distributions with low distribution growth. I bought Canadian Real Estate Investment Trust (TSX-REF.UN, OTC-CRXIF) in 2006 some 11 years ago. When I bought this stock it had a 4.50% distribution yield. This year I am earning 7.09% on my original investment. This means if I have paid $10,000 for my initial investment I would be earnings $709.00 in distributions this year.

For REITs, do not forget that distributions are not dividends and there are different taxes. In 2016, 1.90% was capital gains, 4.44% was Foreign Business Income, 84.29% was other income (Taxed like interest income) and 9.38% was Return of Capital. You pay no tax on return of capital until your total return of capital equals your stock's purchase price.

Making money in the stock market can take time. You want to start early and get some dividend growth stocks and just let them grow their dividends.

On my other blog I wrote yesterday about Andrew Peller Ltd. (TSX-ADW.A, OTC-ADWPF)... learn more. Tomorrow, I will write about Badger Daylighting Ltd. (TSX-BAD, OTC- BADFF)... learn more on August 30, 2017 around 5 pm

This blog is meant for educational purposes only, and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Thursday, August 24, 2017

Stable Economies

As much as everyone seems to like to have a stable economy, there is no such thing unless you want an authoritarian government that will suppress the economic activities of the people. Problem is that economies exist because people do things. So to get a stable economy you cannot let people do things. You limit what they can buy and sell. You limit where and how they live. You limit what they can do and say.

Of course if you suppress people or stop them from doing any economic activity you end up with no economic activity and no economy. This is why communism does not work. Socialism does not work because of the suppression of people, but since they do not suppress everything, it takes longer to fail.

The failure of both communism and socialism is that people will not work hard if they see no benefit for themselves and/or their families. Under both these systems, leaders expected people to work hard to the benefit the whole country. What actually happened is that people did whatever they had to do to survive and that is all they did. (By the way, slaves act the same way.)

The problem with allowing economic activity is that people are unpredictable. The other problem is that they can act like a herd. Think about bear markets. We have them because everyone all of a sudden gets worried about something. A problem could have existed for some time, even for years. However, at one time everyone now worries about it. For the stock market this herd thinking often happens in October or November.

So if you want economic activity you have to allow people the freedom to act. You have to allow them to a great deal of freedom to buy and sell and live as they please. This is what produced the rich Western world.

You, of course, cannot provide total freedom because you would have chaos. There needs to be rules and regulations, but not too many rules and regulations. Capitalism is the same, for it to function properly it needs some rules and regulations. However, if you have too many rules and regulations, you just strangle the economy and capitalism.

On my other blog I wrote yesterday about Jean Coutu Group Inc. (TSX-PJC.A, OTC-JCOUF)... learn more. Tomorrow, I will write about Superior Plus Corp. (TSX-SPB, OTC-SUUIF)... learn more on Friday, August 25, 2017 around 9am.

This blog is meant for educational purposes only, and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.