"The chief losses to investors come from the purchase of
low-quality securities at times of favorable business conditions."  - Benjamin Graham


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

Why rent? To get richer
http://articles.moneycentral.msn.com/Banking/HomebuyingGuide/WhyRentToGetRicher.aspx
"Shares return 7% a year after inflation because that's how fast companies
tend to increase their profits. Houses have their own version of profits:
rents. Tenant-occupied houses generate actual rents, while owner-occupied
houses generate ones that are implied but no less real: the rents their
owners don't have to pay each year. House prices and rents have been closely
linked throughout history, with both increasing at the rate of inflation,
or about 3% a year since 1900. A house, after all, is an ordinary good.
It can't think up ways to drive profits like a company's managers can.
Absent artificial boosts to demand, house prices will increase over long
periods at the rate of inflation, for a real return of zero."

Crooks with deep pockets
http://www.businessweek.com/bwdaily/dnflash/content/jul2007/db20070713_757146.htm?chan=top+news_top+news+index_companies
"Berger's case is one example of how difficult it can be for authorities to
track down white-collar fugitives. They have advantages that more typical
criminals lack, including ties to foreign countries, advanced degrees,
and barrels of money that can help secure safe havens. Berger, now 35, was
born in London and grew up in Salzburg, Austria. He managed hundreds of
millions of dollars out of Park Avenue offices in New York before authorities
charged him with misleading investors about his stockpicking prowess.
Even as he reported stellar returns to his backers, Berger was hemorrhaging
more than $400 million by betting against Internet stocks in the late
1990s. Using his connections and his persuasiveness, Berger was able to avoid
legal authorities for years."

What's luck got to do with it?
http://money.cnn.com/2007/07/17/pf/miller_interview_full.moneymag/
"Somebody once asked Bill Ruane [the late manager of the legendary Sequoia
Fund], and I happened to be in the audience that day, "How do you learn
about investing?" And Bill said, "Well, if you read Ben Graham's Security
Analysis and The Intelligent Investor you'll be well versed in it. And then
if you read Warren Buffett's shareholder letters and understand them too,
you'll know everything there is to know about investing. And you will
become a successful investor." And I think Bill was right, but it takes a lot
of time to do that. Puggy Pearson made it a little pithier when he said,
his line was, "There ain't only three things to gambling. Knowing the 60/40
end of a proposition, money management, and knowing yourself.""

Six books you need to make money
http://www.abcnews.go.com/GMA/MellodyHobson/story?id=3382915&page=1
"Knowing how to invest is a life skill that can pay off big. If you're just
getting into the game though, learning how to play the markets to your
advantage can be complicated. The books below tell you what you need to know
to make money, without a lot of financial terminology. They're not your
typical textbooks - they're as fun as they are informative, and must reads
for anyone interested in business and investing."

How to earn $1 million by not watching TV
http://biz.yahoo.com/ts/070712/10367373.html?.v=4&.pf=banking-budgeting
"A recent study found that it would take $1 million for someone to be
willing to give up TV for the rest of their lives. Guess what? If you decided
to give up TV and invested the money you saved, you would get that $1
million -- and probably a lot more."


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)                                   3   4   2   5   5    5
Bank of Montreal (BMO)                          4   4   3   3   5    5
National Bank of Canada (NA)                    5   4   4   3   5    5
BCE (BCE)                                       3   3   4   5   5    5
Bank of Nova Scotia (BNS)                       4   4   3   2   5    5
TransCanada (TRP)                               3   4   2   4   5    5
Enbridge (ENB)                                  2   3   5   3   5    5
CIBC (CM)                                       5   3   4   2   5    5
Royal Bank (RY)                                 4   2   3   2   5    5
Transalta (TA)                                  1   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
============================================== === === === === === =====
Biovail (BVF)                                   3   4   2   5   5   2.3
National Bank of Canada (NA)                    5   4   4   3   5   3.0
CIBC (CM)                                       5   3   4   2   5   3.5
Bank of Montreal (BMO)                          4   4   3   3   5   3.7
Bank of Nova Scotia (BNS)                       4   4   3   2   5   3.8
Royal Bank (RY)                                 4   2   3   2   5   4.5
Teck Cominco Limited (TCK.B)                    5   5   3   5   4   4.9
BCE (BCE)                                       3   3   4   5   5   5.0
TransCanada (TRP)                               3   4   2   4   5   5.3
Toronto Dominion Bank (TD)                      4   4   3   3   4   5.4
More Info: http://www.stingyinvestor.com/SI/strategy/valueratio.shtml 

Graham Stocks                                  P/E P/B P/D   G$   dG$(%)
============================================== === === === ====== ======
MDS Inc. (MDS)                                  5   5   0   40.25  87.56
Teck Cominco Limited (TCK.B)                    5   5   4   61.31  17.41
More Info: http://www.stingyinvestor.com/SI/strategy/graham.shtml 

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


Books for Stingy Investors

Security Analysis
by Benjamin Graham & David Dodd

Graham and Dodd's Security Analysis is the investment bible for
smart investors. Regrettably the breadth of material that it
covers can be intimidating and only dedicated students are likely to
make it through its 770 pages. However, Security Analysis is
filled with Graham's practical investment philosophy and if you're
a serious investor then you should read this book.
Amazon Link: http://www.amazon.ca/exec/obidos/ASIN/0071448209/


Stock Research From Dan Hallett & Associates

The Rothery Report
http://www.rotheryreport.com/ 

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
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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.rotheryreport.com/store/TopSmallStocks.shtml

Learn More
http://www.rotheryreport.com/store/store.shtml

Subscribe Today
http://www.rotheryreport.com/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.