Newsletter List

Welcome, please scroll down to see past editions of our investment newsletter.

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See links to current and past newsletters in the table below. We have highlighted some of the most interesting past topics.

 

Past Newsletters Click Now to Access Past Topics (Most topics are not specific to the time period when written)
April 23, 2017 Is the Dow Jones Industrial Average a good investment? The Canadian Economy Described Do Companies Face Stiff Price Competition?
March 4, 2017 How Can I Help You Get Rich(er) Through Investing? Investing Versus Saving  Is the S&P 500 over-valued?
February 6, 2017 Article on the dangers of buying certain high P/E stocks
January 8, 2017 InvestorsFriend’s 2016 Performance Our rationale in rating four stocks as Strong Buy one year ago Buy companies with “Good Economics”
December 1, 2016 Growth Stocks Need Not be in Growth Industries Is the “Jobs-Economy” Obsolete? Avoiding High Currency Exchange Fees
September 18, 2016 Is Paper Cash Becoming Obsolete?  Investments Are Not “Money”  What Gets Measured, Gets Manipulated
July 2, 2016 Why Interest Rates are so low Retailers (rightly) battle high credit card fees Go Trades Young Man, Go Trades?
April 21, 2016 The Jobless Economy Why Interest Rates are so Low How corporate Directors defer personal income tax
March 12, 2016 Sent link to updated article on valuation of the S&P 500
January 23, 2016 Actually, Stocks Should Gyrate in price Does Canada really need to attract more foreign investment? How should governments stimulate the economy?
November 30, 2015 Sent article on how to invest like a bank Sent article on capital allocation as a management skill
October 29, 2015 Sent article on how banks make money
October 17, 2015 Sent updated ETF list
Sept 18, 2015 It’s been  bad year for investors. Or has it? Think of stock investing as owning a piece of the corporate world What about the world’s economic problems?
July 9, 2015 Investing in Uncertain Times Why Oil Prices Fell The Canadian Trade Deficit
June 6, 2015 The essence of investing The intelligent use of profits Stocks versus Bonds – historical returns
April 11, 2015 S&P 500 Valuation Thoughts on Income Tax Understanding GDP
February 16, 2015 Credit Card Interest Exchange Rate Fees Canadian Demographics
January 11, 2015 Sent article: Saving versus investing
November 30, 2014 Sent article: How to value known cashflows
November 15, 2014 Sent article Where and How to Invest
October 23, 2014 Be careful what investment advice you listen to Why the tax on RRSP withdrawals is not all bad Stock Buy backs and Corporate take-over bids
August 24, 2014 Some long-term Winning Stocks that we identified in Advance The Richest Man in Babylon Wisdom from 1917 (Gordon Selfridge) and from 1957 (Philip Fisher)
June 8, 2014 The $100,000 (per kid) RESP Toronto Stock Exchange Valuation Canadian Exchange Traded Funds
May 3, 2014 The ten-bagger RRSP The cost of Stock Options Buffett / Berkshire’s portfolio composition
April 6, 2014 Who gets the spoils of the economy How to Get Rich The Canadian Economy
February 8, 2014 $10 Trades for everyone How bad was the 2008 / 2009 crash? Predicting the Stock Market
January 19, 2014 How to get started investing How much wealth will you accumulate through Investing? The real meaning of Buffett’s rule number 1: “Don’t Lose Money”
January 6, 2014 The Surprisingly High ROEs of large companies  Global ETFs Why Warren Buffett Bought Berkshire Hathaway in 1965
December 26, 2013 Company Earnings versus Investor Returns The Dupont ROE Formula and How Companies Make Money For Investors Independent Stock Research
December 14, 2013 Sent free recent Report
December 8, 2013 Sent article on Asset Classes and regarding the criticality of devaluation ratios
November 14, 2013 Sent update of S&P 500 valuation and DOW Jones valuation
October 26, 2013 The Ideal Investment Can Tax on RRSP Withdrawals be avoided? Recent Stock Returns
 September 29, 2013 Ignore World Economic Events? No one Value ratio is either necessary nor sufficient to insure a good investment Defined Benefit Pensions – Relief May be in Sight
July 28, 2013 To understand stocks you must first understand business. There should be an adequate basis for every investment recommendation. Can Stocks Possibly Provide a Decent Return with GDP at 2%? Why are Investor Assets tied to their broker?
June 15, 2013 Aesop and the first rule of finance and investing A sustainable pension plan Long-term bonds are a bad investment now?
May 4, 11, 19 and 25, 2013 Updates to our Valuation Articles Includes Canadian ETF list with P/E ratios and more Includes Valuation of DOW, S&P500 and Toronto Indexes
April 7, 2013 The Joy of Owning Companies The American Housing and Credit markets improve The Canadian Economy and the Canada Pension Plan
February 18, 2013 Stock Traders Versus Investors The Magic of our Organized Economic Systems Leadership versus Systems
December 29, 2012 Your Million Dollar Strategy Has anyone made money in stocks since the year 2000? Stocks Versus Bonds over the years
November 17, 2012 Theoretical Returns from investing Actual Returns from investing in the S&P 500 and corporate bonds NHL Hockey as a business
Sept 9, 2012 Watching the markets too closely is counter productive? A Rational Approach to Investing Competitive Advantage and High ROEs
 July 1, 2012 How Warren Buffett motivates his managers Manipulated Markets? (Threat or opportunity?) Dollar Laws
April 6, 2012 Imagine. You. Rich. The simple (but not easy) formula to get rich by investing Warren Buffett super saver and investor
March 18, 2012 Is it Too Late to Invest? Should companies Buy or Rent their space needs? How much Money goes “into” the market?
February 18, 2012 The Magic of Compound Returns The definition of Investing People everywhere want the same thing – to consume!
January 14, 2012 Wisdom of Warren Buffett (the irrationality of buying bonds at low interest rates and other topics) Borrow to Invest?
December 27, 2011 How we beat the market again in 2011 Why can’t Canadians lock in their mortgage rates for 25 years? Canadian house prices likely to fall
October 9, 2011 Fears, Fears and more Fears A World of Stocks on Sale? Global Exchange Traded Funds for You
Sept 3, 2011 Time to Invest in Stocks? Borrow to Invest? Review of Basics
June 12, 2011 Sino-Forest Risk of Stocks Exchange Traded Funds
March 5, 2011  Getting Started Investing Graduating from Mutual Funds to Stocks RRSPs, RESPs and Tax Free Savings Accounts Explained
January 8, 2011 What return can you expect your stock portfolio to provide? Mental Models – how to quickly accept or reject economic claims Could Buying Local lead to a new Stone Age
December 11, 2010 Is The End Nigh? Death of the U.S. dollar? Does Gold Track Inflation?
November 7, 2010 Past Stock Prices don’t matter Warren Buffett and Investment Education Editorial – public washrooms not private enough?
October 10, 2010 How to Invest Intelligently in businesses through stocks CMHC – bankruptcy candidate? The High Cost of Free
 September 11, 2010 Invest in Long-term bonds or Stocks? Dow Jones Industrial Average Valuation United States Dollar to implode?
August 1, 2010 Good is the Enemy of Great What return can you expect from your stocks? Remember, there’s a company under that stock
June 29, 2010 The Upside of Down Warren Buffett’s letters to shareholders
May 29, 2010 Invest based on corporate earnings not on  Squiggles on a Chart A World in debt?
May 2, 2010 Your RRSP – It’s Much Smaller than you Thought The Canadian Economy In Praise of Buying from Big Retailers
March 21, 2010 Beware Mis-leading cash Dividend yields High Canadian dollar emergency Is U.S. stock market over-valued
February 13, 2010 Slay the Retirement Savings Monster The down-side of tax deferred savings plans How to Make Money in Stocks
December 8, 2009 Editor’s Investment Performance Financial Independence When Your Money Makes More Than You Do
November 29, 2009  Market Direction is unknown  Canadian Mortgage Delinquencies  The burden of jumbo mortgages
September 6, 2009 Banking and Risk Businesses and Charity How I Saved $8000 with a phone call.
August 9, 2009 Best of times? or Worst of Times? Stock Market Valuation Warren Buffett and the recession
July 26, 2009 Compound Returns Performance An Investment Fund
July 11, 2009 The Joy of Wealth When Opportunity Knocks… Aging Population Data
June 20, 2009 A Quadrupled RRSP Dividend Reinvestment Plans Free Report
April 25, 2009 It Costs a lot of Money to be Poor! House Wealth has Vaporized? Borrow to Invest?
April 4, 2009 How Investors Bought High and Sold Low How to Get Help Selecting Stocks The Canadian Economy
March 1, 2009 Warren Buffett’s 2008 letter Is Buy and Hold Dead? Stocks versus Bonds
January 25, 2009 Stocks versus Government Bonds Budget Wish List Housing Prices
November 8, 2008 Should You Invest Now? Stock Earnings Versus GDP S&P 500 Historic P/E Ratios
September 28, 2008 Credit Crisis – What’s At Stake? How Do Banks Work?  Who Gets Bailed Out?
August 22, 2008 Are You Mr. Market? Portfolio Management Market Direction
 July 6, 2008 Market Declines – Problem or Opportunity? Buying Companies at Book Value Tax Free Savings Account
June 1, 2008 It costs a lot of Money to be Rich Scams Stocks We analyse
May 4, 2008 MicroSoft and Yahoo bid Finding Hidden Earnings Car prices dropping
April 5, 2008 It All Starts With Saving Money Law of Unintended Consequences Corrupted IPO practices
 March 29, 2008 Competitive Advantage Regression to the Mean Market Outlook
March 2, 2008 Warren Buffett’s 2007 letter Characteristics of Attractive Businesses Realistic Market Expectations
February 9, 2008 Buy Stocks Now? Stock Index Valuations Mortgage Life Insurance
January 20, 2008 Revenge of the Procrastinators Off-Balance Sheet liability is Oxymoron? Price to Book Value Ratio
January 6, 2008 Outlook for 2008 Companies that grow like snowballs Stupid Banker Tricks
November 3, 2007 High Dollar Emergency Buy U.S. Dollars? Sell Manufacturers?
October 21, 2007 Build Your Portfolio like Buffett Information is more valuable than products Are we leaving debts to the next generation?
October 7, 2007 Realistic Returns from Stocks High Canadian Dollar
September 23, 2007 Bank Exchange Rate fees excessive? Canadians are now way richer in U.S. dollars Can’t Beat this Market Down with a Stick?
September 18, 2007 Canadian Dollar soars!
September 1, 2007 In praise of eBay Look for toll-booth businesses Invest like Warren Buffett
August 12, 2007 Market Direction? The long-term arbitrage Exchange rates and implications
July 29, 2007 A lulu LEMON of a Stock? Price Differentiation A Rapidly Aging Canada
July 14, 2007 Getting Rich in Stocks is Simple, but not Easy Conrad Black True Independence
July 2, 2007 Stock Market Direction Canadian dollar fluctuations Pension versus a self-managed pot of money
May 27, 2007 Don’t hope to Get Rich, Plan for it Magic of Compound Interest and Returns Impact of Higher Dollar
May 13, 2007 Are you Getting Enough Return?  Asset Allocation and the all-stocks
approach
 Non-GAAP or Non-Sense?
April 3, 2007 Is Preservation of Capital dangerous to your Wealth? Does Asset Allocation really Explain 90% of returns? At what rate will Your Money Grow?
March 4, 2007 Risk Tolerance Insurance Needs Mutual Funds versus ETFs
February 4, 2007 3 words of Investing Advice of incredible value Can You Take the Heat of being in Stocks? Scams to Avoid
January 13, 2007 Goal Achievement Lottery Mentality Income Trusts and taxes
December 21, 2006 Your Net Worth
November 12, 2006 Is Competition Working? Don’t accept mediocre returns Great Companies Of Canada
October 6, 2006 Back to Basics (ROE, P/E) Paradoxes of the Market Interest Rates
Sept 10,
2006
Return to expect on stock indexes Return versus GDP Earnings versus GDP
August 16, 2006 Making Money in Flat Markets Compound Returns Why there are few Sell Ratings
July 29, 2006 Get rich in stocks Make Time Your Friend Compound Growth
June 28, 2006 Buffett gives away $37 billion Beware hidden commissions on U.S. stocks Accepting higher volatility may increase returns
June 9, 2006 High dollar Dealing with a market decline Gasoline taxes
April 16, 2006 Interest Rates Stock Option Expenses The Abundance Mentality
April 8, 2006 Financial Engineering Boring can be good… Subscription based businesses
March 8, 2006 Trust Warren Buffett’s annual letter to shareholders Why your return matters more in later years
February 15, 2006 Dual Class Shares A dollar worth $20? The Value Trap
January 15, 2006 Strange interest rates Mortgage strategy Will stocks increase in 2006?
December 17, 2005 Copy from the Best Outlook for 2006 Pension Problems
November 20, 2005 TSX Segment Analysis Behavioral Finance Should you invest in stocks?
November 8, 2005 Stock Market versus Casino Strategy to Get Rich Avoid the Victim Mentality
October 23, 2005 Income Trusts Proxy Voting Problem Finance/ Accounting  Education – value for money
September 29, 2005 Good Industry characteristics and bad Stop Loss Orders Regression to the Mean
September 4, 2005 Hurricane Impact Impact of currency fluctuations Earnings often not correlated with share price
August 20, 2005 Income Trusts Investment Approaches No-brainer Investing
August 4, 2005 Brand Power Risk Adjusted Returns? Capital gains on bonds signal lower returns ahead
July 18, 2005 Free Trade Floating Currencies Paper Currency worry?
June 30, 2005 Historic stock versus bond returns Are stocks riskier than bonds? Are stock indexes overvalued at this time?
May 30, 2005 Exchange Traded Funds Not all Commodity businesses are bad
May 2005 The Only Two Sources of Money in the Market The Folly of Ethical Investing The Joy of Owning Familiar Companies
April 2005 How to Get Started Investing in Bonds Thinly Traded Stocks
February 2005 Investing in Bonds Convertible Bonds Free Trade
January 2005 Successful Investing Corporate Charity Advisor Conflict of Interest
December 2004 One Up on Wall Street Understanding IPOs Currency Risk
October 2004 How to Lose money thru trading Gold is no Inflation Hedge Sports and Capitalism
September 2004 To Succeed in Life – Copy from the Best Trading Tips How to Pick Stocks
August 2004 The Insurance Industry Understanding P/E Ratio Short Selling
July 2004 Casual Dining Industry American Responsiveness Politics and Business Editorial
June 2004 Uncommon Profits Fantastic Business Model Lock in profits?
April 2004 Insider Trading Future business Trends
March 2004 Be Rich, not just Right Exchange traded Funds
February 2004 Low risk, high return Income Trust Phenomena Trading Psychology
January 2004 Conservation of wealth Why RIM was smart to issue shares
Dec 2003 Time-specific material only
Nov 22, 2003 Beware Greedy Managers Beware Bankruptcy candidates Pension Concerns
Nov 2, 2003 Financial Services – the world’s best industry? Trading Strategies
October 2003 Time-specific material only
September 2003 Time-specific material only
August 22, 2003 Time-specific material only
August 3, 2003 Warren Buffett and the Washington Post (129 Bagger and counting!) How to Invest in Stocks Don’t be a “Ninny And Pension Plan Woes
July 2003 Time-specific material only
June 4, 2003 Winners Win
June 21, 2003 Warren Buffett investing style
May 10, 2003 Warren Buffett investing How earnings can be manipulated
March 2003 Warren Buffett letter
February 16, 2003 Investments goals and risk Fixed Income versus Growth in RRSP
January 11, 2003 Do as the rich do
January 25, 2003 Air Canada and goofy management
Nov 30, 2002 Income Trusts
Nov 21, 2002 Pension Problems Loom
 Nov 10, 2002 Portfolio Management
October 27, 2002 Realistic Returns Lessons from Bonds
September 28, 2002 Earnings Growth versus return Markets are always volatile – get over it!
August 2002 Cash-flow definition Quality of assets
July 7, 2002 Definition of cash flow
May 24, 2002 How to succeed in business and life
May 11, 2002 Smarter company growth strategy
April 2002 Growth and Stock price
June 22, 2002 What Works on Wall Street
June 8, 2002 Nortel Income tax
Mar 23, 2002 Why Buy Stocks that are fully valued? Preservation of Capital
Mar 9, 2002 Smart growth versus Stupid Growth How to Pick Stocks
Feb 23, 2002 Are all Stocks “Holds”? All stocks are risky Goofy Management
Feb 9, 2002 Adjusted Earnings Enron P/E expansion and contraction
Jan 26, 2002 How to identify an attractive industry Death of the family farm Canadian Loonie
Jan 11, 2002 Accounting earnings versus adjusted earnings Dilution and anit-dilution
Dec 27, 2001 Value Line
Dec 8, 2001 Efficient Markets?
Nov 24, 2001 How the market creates and destroys wealth Cash Cows and Sick Cows Money “in” the market?
Nov 11, 2001 This web site as a business Price to Value Ratio