InvestorsFriend Stock Performance 2006

In 2006, our Buys and Strong Buys rose an overall average of 19.9%. My personal portfolio was up 17.8% in 2006. Our model tracking portfolio was up 15.7%. By comparison for 2006 the TSX was up 14.5% and the DOW was up 16.3%. Future Returns may not be similar to past returns.

Group Rating to start 2006 Price Increase Our Performance
Average of 3 strong buys Strong Buy 15.3% good
Average of 18 buys Buy 20.6% very good
Average for all 21 buys and strong buys 19.9%
Average of 5 weak buys Weak Buy 14.4% good
Average of 3 weak sells Weak Sell 7.2% bad
Average for all 8 Neutral ratings (weak buy or weak sell) 11.7%
Average of 2 sells Sell 41.7% very bad
Rated As – Strong Buy at January 1, 2006
Name Beginning 2006 Price Starting Rating Current Price at this update Price Increase Our Performance
Northbridge Financial Corporation (NB, Toronto) 35.00 (lower) Strong Buy 30.71 -12% bad
Kingsway Financial Services Inc. (KFS, Toronto and New York) 23.50 Strong Buy 24.31 3% good
Western Financial Group (WES, Toronto) 2.62 Speculative (lower) Strong Buy 4.05 55% very good
Average Strong buy Strong buy 15.3% good
3
Rated As – Buy
Name Beginning 2006 Price Rating to start 2006 Current Price at this update Price Increase Our Performance
Manulife Financial (MFC, Toronto and New York) 34.14 Speculative Buy 39.35 15% good
NYSE Group (formerly Archipelago) (NYX, U.S.) 50.00 Speculative Buy 97.20 94% very good
Shaw Communications Inc. (SJR.b, Toronto  SJR, New York) 25.23 Speculative Buy 36.91 46% very good
IGM Financial (IGM, Toronto) 46.12 Buy 49.10 6% good
Stantec Inc. (STN, Toronto) 19.88 Buy 25.25 27% very good
E-L Financial Corporation Ltd. (ELF, Toronto) 535.00 Speculative (higher) Buy 635.00 19% good
Telus non-voting (T.A, Toronto TU, New York) 46.67 Moderately
Speculative (higher) Buy
53.52 15% good
Sico Inc. (SIC, Toronto) 14.70 Buy rated 20.00 36% very good
Thomson Corporation (TOC, Toronto and New York) 34.60 Buy rated 41.44 20% good
Canadian Western Bank (CWB, Toronto) 35.81 (lower) Buy 52.78 47% very good
Canadian National Railway Company (CNR, Toronto CNI, New York) 46.57 (lower) Buy 50.07 8% good
Loblaw Companies Limited (L, Toronto) 56.37 Buy rated 48.79 -13% bad
Cryptologic Inc. (CRYP, NASDAQ, CRY, Toronto) 19.59 Speculative (higher) Buy 23.16 18% good
Alimentation Couche-Tard Inc., ATD.B 23.40 Speculative (lower) Buy 25.35 8% good
FIRSTSERVICE CORPORATION (FSV, Toronto) (FSRV, NASDAQ) 25.63 (lower) Buy 23.10 -10% bad
ING Canada (IIC, Toronto) 51.25 (higher) Buy 52.42 2% good
Canada Bread (CBY, TO) 59.00 (lower) Buy 54.10 -8% bad
Aeroplan Income Fund (AER.UN, Toronto) 12.91 Speculative Buy 16.97 31% very good
Reitmans (RET.A, TO) 17.13 Speculative (higher) Buy 22.19 30% very good
Average Buy Buy 21% very good
19
Rated As – Weak Buy
Name Beginning 2006 Price Rating to start 2006 Current Price at this update Price Increase Our Performance
Alarmforce Industries Inc. (AF, Toronto) 3.95 Speculative Weak Buy 5.10 29% very good
HOME CAPITAL GROUP INC (HCG, Toronto) 34.75 Weak Buy 34.05 -2% bad
Wendy’s International 55.26 Weak Buy / Hold 67.00 21% very good
Canadian Tire (CTC.a, TO) 69.54 Weak buy / hold 70.88 2% good
Hub International 25.80 Speculative Buy 31.39 22% very good
Average Weak Buy Weak Buy 14% good
5
Rated As – Weak Sell
Name Beginning 2006 Price Rating to start 2006 Current Price at this update Price Increase Our Performance
TSX Group (X, Toronto) 46.83 Weak Sell / Hold 46.61 0% good
DALSA CORPORATION (DSA, Toronto) 12.80 Weak Sell 12.80 0% bad
Cognos (CSN, Toronto COGN, NASDAQ) 40.55 Weak Sell / Hold 49.55 22% very bad
Average Weak Sell Weak Sell 7% bad
3
Rated As – Sell
Name Beginning 2006 Price Rating to start 2006 Current Price at this update Price Increase Our Performance
THE FORZANI GROUP LTD. (FGL, Toronto) 12.95 Sell rated 19.17 48% very bad
Sleeman Breweries Ltd. (ALE, TO) 12.96 Sell 17.55 35% very bad
Average Sell Sell 42% very bad
2
Rated As- Strong Sell
Name Beginning 2006 Price Rating to start 2006 Current Price at this update Price Increase Our Performance
Average Strong Sell

DISCLAIMER: All stock ratings presented are “generic” in nature and do not take into account the unique circumstances and risk tolerance of any individual. The information presented is not a recommendation for any individual to buy or sell any security. The authors are not registered investment advisors and the information presented is not to be considered investment advice to any individual. The reader should consult a registered investment advisor or registered dealer prior to making any investment decision. For ease of writing style the newsletter and articles are written in the first person. But, legally speaking, all information and opinions are provided by InvestorsFriend Inc. and not by the authors as individuals. InvestorsFriend Inc. itself does not have a position in any of the indicated securities while the authors may have a position.

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