"Never count on making a good sale. Have the purchase price be so
attractive that even a mediocre sale gives good results."  - Warren Buffett


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

Outdoing the Swiss Army knife
http://money.cnn.com/magazines/fsb/fsb_archive/2007/07/01/100123045/index.htm?postversion=2007072506
"Long before holstered cellphones appeared on handymen's belts, another
gadget won their hearts and hips: the Leatherman Pocket Survival Tool. Within
three months of its first listing in a mail-order catalog, the
multifunctional gizmo became essential for thousands of hikers, hunters, and knife
enthusiasts. Since then, Leatherman tools have blasted into space with NASA
astronauts, severed umbilical cords on newborns, and extracted shrapnel
from American troops in Iraq. As founder Tim Leatherman tells it, the idea
behind his company grew out of a routine car breakdown. He and his wife
spent most of 1975 touring Europe and Asia in a used Fiat. Its hoses leaked
and the wiring failed constantly, and Leatherman's generic pocketknife
lacked the means to fix them. Inspiration struck: Why not add pliers to a
pocketknife? By the time the couple returned to the U.S., Leatherman had
sketched out a design. A few weeks later he was using his brother-in-law's
machining tools to construct the first prototype."

Dead men farming
http://www.forbes.com/home/business/2007/07/24/farm-subsidies-usda-biz-cx_bw_9724farmbill.html
"Here's a fact that supporters of the Farm Bill might want to consider as
the legislation is deliberated on the House floor this week: Between 1999
and 2005, the U.S Department of Agriculture paid $1.1 billion in farm
payments to nearly 173,000 people who weren't alive. Nothing illegal--just
Washington business as usual. Under certain conditions, estates can receive
farm payments for up to two years after a recipient's death. But according
to a study released Tuesday by the Government Accountability Office, 40% of
the deceased who received payments from 1999 to 2005 had been dead for at
least three years. In one instance, someone who died in 1995 got
$400,000."

The value of Fundamental Indexing
http://www.q-group.org/current/seminar/AsnessPaperValue
"Proponents of market benchmarks weighted by such factors as dividends,
earnings or sales claim that an investment management revolution is afoot.
But is the concept really new - or is it just a cleverly repackaged version
of the discipline known as value investing?"

Profiting from mortality
http://www.businessweek.com/magazine/content/07_31/b4044001.htm?chan=top+news_top+news+index_best+of+bw
"Death bonds may be the most macabre investment scheme ever devised by Wall
Street"

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."


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   3   4   5    5
Bank of Nova Scotia (BNS)                       5   3   3   2   5    5
TransCanada (TRP)                               3   4   2   4   5    5
Royal Bank (RY)                                 4   2   3   2   5    5
Enbridge (ENB)                                  2   3   5   3   5    5
CIBC (CM)                                       5   2   4   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   2.2
National Bank of Canada (NA)                    5   4   4   3   5   2.7
CIBC (CM)                                       5   2   4   2   5   3.2
Bank of Nova Scotia (BNS)                       5   3   3   2   5   3.4
Bank of Montreal (BMO)                          4   4   3   3   5   3.5
Teck Cominco Limited (TCK.B)                    5   5   4   5   4   3.8
Royal Bank (RY)                                 4   2   3   2   5   3.9
TransCanada (TRP)                               3   4   2   4   5   4.7
BCE (BCE)                                       3   3   3   4   5   4.7
Toronto Dominion Bank (TD)                      4   4   3   3   4   4.9
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   40.36  98.61
Teck Cominco Limited (TCK.B)                    5   5   4   61.27  32.83
Lundin Mining Corporation (LUN)                 5   5   0   14.03   3.10
Magna Cl.A (MG.A)                               3   5   3   91.10   1.12
More Info: http://www.stingyinvestor.com/SI/strategy/graham.shtml 

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


Books for Stingy Investors

Contrarian Investment Strategies: The Next Generation
by David Dreman

David Dreman has provided perhaps the best modern book on value
investing and the markets. He goes from the basics through to
advanced topics and the sheer amount of useful information in his
book is remarkable. As an added bonus, Dreman's writing is clear
and approachable - a feat rarely seen in investing books. All
but the most grizzled market veteran will pick up a few good ideas
from Contrarian Investment Strategies: The Next Generation.
Amazon Link: http://www.amazon.ca/exec/obidos/ASIN/0684813505/


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
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.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.