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The trick to value investing is to buy good companies when nobody else wants them, JOHN HEINZL writes. But it's not a game that's easy to play in this market
By JOHN HEINZL
Irwin Michael's specialty is sniffing out undervalued stocks. But after last year's market surge, the manager of ABC Funds has to dig deeper to uncover hidden gems.''It's becoming tougher and tougher,'' he says. ''A year ago we looked at three stocks to buy one. Now, we look at 10.''
A weekly scorecard of some of the lowest and highest rates and yields across Canada. The survey of mortgages, GICs and car loans - taken from a sample of companies by Cannex Financial Exchanges - covers posted rates only, so consumers may be able to haggle for a better deal at some financial institutions.
By ANDREW ALLENTUCK
Barbara Darius (not her real name) wonders if her commitment to her employer, a major utility in the Maritimes, will get her to the retirement income she wants. At the age of 43, she earns $82,000 a year. She would like to retire at age 57. Yet she is not sure she will be able to do it, for her company pension in 2017 will pay her only $19,400 a year.
By CAROLYN LEITCH
The soaring price of gold bullion added lustre to mutual funds that invest in gold stocks last year, as the precious metals group boasted the top performance among mutual fund categories with a whopping average advance of 38.8 per cent in 2003.
By ROB CARRICK
Two-thirds of Canadian equity funds failed to beat the performance last year of a stock portfolio you can assemble in all of two minutes.Yes, it's the Two-Minute Portfolio we're talking about here. This ongoing experiment in simple portfolio building had a solid year in 2003, with a total return of 22.7 per cent (that's price gains plus dividends).
By TIM CESTNICK
When it comes to your estate, planning ahead is critical. Today, I want to talk about an estate tool worth considering. I'm referring to testamentary incentive trusts.The trust
By DAVID PARKINSON
Central banking means never having to say you're sorry. But, occasionally, it does mean admitting you were wrong.The Bank of Canada is on the brink of such an admission. The arbiter of Canada's monetary policy appears poised to cut interest rates at next Tuesday's scheduled rate-setting session, which would drop rates below the level they were at last spring -- when the bank put through two rate increases that, in retrospect, were premature.
A selection of this week's winners and losers
STARBank of Montreal(BMO - TSX)$58.05, up $3.75J.P. Morgan Chase's blockbuster $58-billion (U.S.) deal to acquire Bank One has Canadian investors rubbing their freezing hands in anticipation of bank mergers north of the border. But Paul Martin is tending to more pressing matters, such as driving a hot poker through Sheila Copps' eye.
