"Success is the ability to go from one failure to another with no
loss of enthusiasm."  - Winston Churchill


Stingy Links
http://www.stingyinvestor.com/SI/articles/articlearchive.shtml

Last-minute tips that can save big bucks
https://secure.globeadvisor.com/servlet/ArticleNews/story/gam/20070421/STMAIN21
"The countdown is on. Just a few days left to file your 2006 tax return.
Sure, I know, it's a task that's about as pleasant as cleaning out the
refrigerator. When I was a bachelor, I'd put off cleaning the fridge until the
science experiment at the back of the bottom shelf would develop legs and
walk away. Preparing a tax return may not be quite as exciting -- but it's
equally important. And in fact, it can be profitable. To increase the
likelihood that preparing your tax return is a profitable experience, let me
share with you some last-minute tips that could save you some money."

Cundill's quest for hidden value
https://secure.globeadvisor.com/servlet/ArticleNews/story/gam/20070421/RCARRICK21
"Cundill Investment Research, which is owned by fund industry giant
Mackenzie Financial Corp., is noted for a strict value approach that means it
only buys stocks it believes are trading for less than they're worth. "We buy
what everybody else is selling," Mr. Burton said. "That's where we start
our search.""

Prophet among pinstripes
http://www.fastcompany.com/magazine/104/prophet.html
"The speaker wore his usual uniform of a faded black Timberland sweatshirt
and jeans; his London audience was all tailored suits and double-cuffed
shirts. But as James Montier finished explaining why money shouldn't be
equated with happiness, the equity and bond traders rose to their feet in
applause. "I don't think they heard much beyond rule 3," Montier quipped
afterward. Rule 3 of his 10 for achieving sustainable happiness is, "Have
sex.""

Meaty beaty big and bouncy
http://ce.investorsinsight.com/CT00052604MTE5NDYxMDMA.html
"The very concept of small cap investing is pretty suspect. From an
empirical skeptic's viewpoint, the evidence is not convincing. Since 1981, most
of the evidence appears to be that the size effect has vanished.
Disentangling the size and value effects suggests that a very large proportion of
the size effect is in actual fact a value effect! Even if you still believe
in small caps (and it would have to be a matter of blind faith given the
evidence) now is certainly not the time to be investing in them. Small caps
are trading at a premium to large caps in both the US and Europe. This
implies a negative liquidity premium - investors are paying for the pleasure
of holding illiquid, inherently cyclically exposed stocks. This doesn't
sound like a sound investment proposition to me. In addition, the delivered
growth of small caps (whilst in excess of large caps) is usually less
than analysts were expecting. Buying an expensive asset with a high
likelihood of earnings disappointment (even without the business cycle risk) would
seem to expose investors to unnecessary valuation risk."


S&P/TSX60 Value Screens
http://www.stingyinvestor.com/SI/strategy.shtml 

High Dividend Yield Stocks                     P/E P/B P/S P/C P/D Yield*
============================================== === === === === === ======
Biovail (BVF)                                   1   2   1   5   5    5
Bank of Montreal (BMO)                          4   4   3   3   5    5
Transalta (TA)                                  1   4   3   4   5    5
BCE (BCE)                                       3   4   4   5   5    5
TransCanada (TRP)                               3   4   3   4   5    5
National Bank of Canada (NA)                    5   4   4   3   5    5
Enbridge (ENB)                                  2   3   4   3   5    5
Bank of Nova Scotia (BNS)                       4   3   3   2   5    5
CIBC (CM)                                       5   3   4   2   5    5
Toronto Dominion Bank (TD)                      3   4   3   3   4    4
More Info: http://www.stingyinvestor.com/SI/strategy/dogs.shtml 

Value Ratio Stocks                             P/E P/B P/S P/C P/D  VR
============================================== === === === === === =====
Teck Cominco Limited (TCK.B)                    5   3   2   3   4   3.1
National Bank of Canada (NA)                    5   4   4   3   5   3.5
Bank of Montreal (BMO)                          4   4   3   3   5   3.6
CIBC (CM)                                       5   3   4   2   5   4.0
Bank of Nova Scotia (BNS)                       4   3   3   2   5   4.6
BCE (BCE)                                       3   4   4   5   5   4.8
Royal Bank (RY)                                 3   3   3   2   4   5.0
Husky Energy (HSE)                              5   2   2   4   4   5.0
Toronto Dominion Bank (TD)                      3   4   3   3   4   5.0
TransCanada (TRP)                               3   4   3   4   5   5.1
More Info: http://www.stingyinvestor.com/SI/strategy/valueratio.shtml 

Graham Stocks                                  P/E P/B P/D   G$   dG$(%)
============================================== === === === ====== ======
ACE Aviation Holdings Inc. (ACE.B)              5   4   0   34.71  10.06
Encana (ECA)                                    5   4   3   62.71   4.35
Teck Cominco Limited (TCK.B)                    5   3   4   88.73   4.02
Magna Cl.A (MG.A)                               3   5   2   90.47   1.68
More Info: http://www.stingyinvestor.com/SI/strategy/graham.shtml 

*Notes: http://www.stingyinvestor.com/SI/strategy/notes.shtml 


Books for Stingy Investors

The Intelligent Investor
by Benjamin Graham & Jason Zweig

Follow Warren Buffett's advice and read "by far the best book on
investing ever written". The latest edition provides the full
text of Graham's original work and supplemental chapters with more
modern commentary from Money Magazine editor Jason Zweig. I
like to read this book every few years and would probably benefit
by reading it even more frequently.
Amazon Link: http://www.amazon.ca/exec/obidos/ASIN/0060555661/


Stock Research From Dan Hallett & Associates

The Rothery Report
http://www.stingyinvestor.com/SI/store.shtml 

The Rothery Report provides research on select deep-value stocks in
North America. Discover overlooked and undervalued stocks in quarterly
investment reports which provide detailed analysis of Canadian and
U.S. stocks.  Weekly email news and additional updates keep
subscribers informed about new opportunities and developments.

Rothery Report Performance (03/31/2001 to 03/31/2007)
  Average Capital Gain    Average Holding Period
    Sold Stocks: 75.5%      Sold Stocks: 2.1 Years
    All Stocks: 51.5%       All Stocks: 2.3 Years

Special Bonus Reports: Top Smaller Stocks 2007
http://www.stingyinvestor.com/SI/store/TopSmallStocks.shtml

Learn More
http://www.stingyinvestor.com/SI/store.shtml

Subscribe Today
http://www.stingyinvestor.com/SI/store/order.shtml 



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ISSN 1499-2795 Copyright Dan Hallett and Associates Inc., 2007.
All rights reserved. The securities mentioned in this report are not
appropriate for all investors. Consult your professional investment
advisor before making any investment decision.  While all reasonable
effort is made to ensure the accuracy of information and data
contained herein, accuracy can not be guaranteed. Past performance is
not a good predictor of future performance.  Results are not
guaranteed and we assume no liability whatsoever for any material
losses that may occur.  No compensation for suggesting particular
securities or financial advisors is solicited or accepted.  The
information in this newsletter, and in its related website, is not
intended to be, nor does it constitute, financial advice or
recommendations.  Investing in stocks can be risky and may result in
substantial losses.  A Dan Hallett and Associates Inc.(DH&A)
publication.  DH&A is registered as Investment Counsel in the province
of Ontario. DH&A, or related-parties may have an interest in the
securities mentioned.