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Value Investing

Dividend, Growth, Index and Value portfolio strategies
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Meet Value Investor Norman Rothery

Latest Columns

The simplest way to select bargain stocks

NORMAN ROTHERY

The stock market can act like a demented Rube Goldberg machine designed to confound investors. But clear away the complexity and it offers some simple methods that perform surprisingly well over the long run.

One was revealed by the late Benjamin Graham in a 1976 article called The Simplest Way to Select Bargain Stocks. The famous money manager calculated that his method would have generated 15-per-cent average annual returns over the prior 50 years.

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Sign up for the 2016 bank stock-picking contest

NORMAN ROTHERY

Canadian stocks celebrated the new year by plunging into a bear market.

While investors flee the resource sector, there is growing concern that financials might be next up on the market’s chopping block.

As uncertainty abounds it’s time to test your stock-picking prowess in my third annual big bank stock contest. All you have to do is figure out the best, and the worst, of the Big Six Canadian banks to invest in this year.

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A value investor's best advice for 2016

NORMAN ROTHERY

Norman Rothery is the value investor for Globe Investor’s Strategy Lab. Follow his contributions here and view his model portfolio here.

It’s almost time to pop the champagne, toast the year that has been and look forward to what the new one will bring.

But, before pulling out the crystal ball, I have a confession to make.

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A value investor's advice on the biggest TSX losers over the past 10 years

NORMAN ROTHERY

Norman Rothery is the value investor for Globe Investor’s Strategy Lab. Follow his contributions here and view his model portfolio here.

It’s almost time to pull the toboggan out of storage and head to the hills for a little winter fun. After all, there’s something special about speeding downhill on a crisp winter day.

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‘Tis the season to buy reasonably priced shares from tax-loss sellers

NORMAN ROTHERY

Norman Rothery is the value investor for Globe Investor’s Strategy Lab. Follow his contributions here and view his model portfolio here.

We’re quickly approaching the season for feasting on figgy pudding and watching Ebenezer Scrooge have a change of heart. It’s also a charitable time of year for value investors who lend a helping hand to people who desperately want to sell their shares for tax reasons.

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Table: Stocks with low EV-to-EBIT ratios

Norman Rothery

 

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Some reassurance for diversified dividend investors

NORMAN ROTHERY

Norman Rothery is the value investor for Globe Investor’s Strategy Lab. Follow his contributions here and view his model portfolio here.

The spectre of rising interest rates hangs like a miasma over the Canadian economy. They’re currently being warded off by an accommodative monetary policy from the Bank of Canada. But it is only a matter of time before inflation picks up and rates start to climb.

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This value investor's case for dividend stocks

NORMAN ROTHERY

Norman Rothery is the value investor for Globe Investor’s Strategy Lab. Follow his contributions here and view his model portfolio here.

Halloween is a joyous holiday for children who scour their neighbourhoods for sugary treats. It’s also a happy one for investors because it marks the end of a traditionally weak period for stocks. If history is a guide, odds are good that the market will fare reasonably well over the next few months.

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If your stock is focused on instant profitability, you probably shouldn't own it

NORMAN ROTHERY

Norman Rothery is the value investor for Globe Investor’s Strategy Lab. Follow his contributions here and view his model portfolio here.

By dint of a devilish deal, the hero Westley is dragged down into the pit of despair in the 1987 movie The Princess Bride. When the villain’s henchman explains his fate, Westley responds by saying that he can cope with torture. The henchman shakes his head and says, “nobody withstands the machine.”

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Trading value for growth? Tread carefully

NORMAN ROTHERY

Norman Rothery is the value investor for Globe Investor’s Strategy Lab. Follow his contributions here and view his model portfolio here.

It’s been a hard year for Canadian value investors. Those who wisely steered clear of the resource sector might be down only a little bit.

But others will have to do some belt tightening this Thanksgiving.

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Low-risk investors: Why sometimes even a modest fee can eat away at your returns

NORMAN ROTHERY

Norman Rothery is the value investor for Globe Investor’s Strategy Lab. Follow his contributions here and view his model portfolio here.

Never ask your barber if you need a haircut. That’s Warren Buffett’s advice but it isn’t primarily about money-grubbing hair cutters. He’s pointing out that you should be mindful of the self-interest of others.

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Why savvy investors shouldn't be concerned with the latest market turmoil

NORMAN ROTHERY

Norman Rothery is the value investor for Globe Investor’s Strategy Lab. Follow his contributions here and view his model portfolio here.

Labour Day heralds the imminent arrival of fall and the first day of classes. It also marks the end of summer vacations. More than a few investors will return to their desks in a sour mood due to the market’s recent fluctuations.

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Canada's three top momentum stocks

NORMAN ROTHERY

Visit Lion’s Head in the summer and you’ll be in for a treat. The small town is nestled on the shores of Ontario’s Georgian Bay and is surrounded by the natural glory of the Niagara Escarpment.

While that section of the bay is placid most of the time, if the winds howl in the right direction, the waves can be powerful enough to rearrange its pebble beaches and chase swimmers back to shore.

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Buffett's winning wager on index investing and how Canadians can place their own bets

NORMAN ROTHERY

Norman Rothery is the value investor for Globe Investor’s Strategy Lab. Follow his contributions here and view his model portfolio here.

Take a trip to Garrison Keillor’s Lake Wobegon and you’ll discover that all the children are above average. Similarly, most stock pickers believe they’re above average, too. But the market has a habit of proving them wrong.

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These five stocks have cut their dividends, but score tops in value

NORMAN ROTHERY

Norman Rothery is the value investor for Globe Investor’s Strategy Lab. Follow his contributions here and view his model portfolio here.

Building sandcastles on the shore brings back fond childhood memories.

The challenge was to get them set up before the waves came in. But it was only a matter of time before the monuments to impermanence were washed away and then rebuilt again the next sunny day.

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Ride out market tempests with a balanced portfolio

NORMAN ROTHERY

Norman Rothery is the value investor for Globe Investor’s Strategy Lab. Follow his contributions here and view his model portfolio here.

The market is perched atop a sand dune next to the sea and waves are lapping at its base. There are some big storms on the horizon and it might not take much for it to collapse.

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Time for storm windows on your portfolio?

NORMAN ROTHERY

A great storm recently blew through Toronto and took one of our trees with it. The young Kentucky coffee tree proved to be no match for the wind and the rain. After a fateful gust, it split down the middle, grabbed hold of my neighbour’s power line and tumbled to the ground.

Another storm is brewing that could be more dangerous because it’s headed toward the market. Early gusts have already knocked down Greece and Puerto Rico. Both had been previously weakened by mismanagement, economic hardship and high debt levels.

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Timing strategies for value investors: A risky business at the best of times

NORMAN ROTHERY

Norman Rothery is the value investor for Globe Investor’s Strategy Lab. Follow his contributions here and view his model portfolio here.

A band of swashbuckling accountants took a wrong turn and sailed right off the edge of the world in the Monty Python movie The Meaning of Life. If some value investors are right, a similar fate is in store for North American stocks.

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Why value investing is far from dead

NORMAN ROTHERY

Norman Rothery is the value investor for Globe Investor’s Strategy Lab. Follow his contributions here and view his model portfolio here.

‘Bring out your dead!” is the corpse collector’s refrain at the start of a classic scene in Monty Python and the Holy Grail. In the movie, the collector encounters a customer who wants to dispose of a body that’s, well, not quite dead yet.

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Momentum investing strategies hold weight worldwide

NORMAN ROTHERY

Norman Rothery is the value investor for Globe Investor’s Strategy Lab. Follow his contributions here and view his model portfolio here.

Momentum is one of the biggest and most omnipresent forces in financial markets. Its fingerprints can be found in stock returns, across geographies and between asset classes.

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Is your asset allocation a bit askew? Relax

NORMAN ROTHERY

Investors should think twice before rebalancing their portfolios because the costs of doing so can easily exceed the benefits.

To illustrate, I’m going to focus on a simple, balanced portfolio that’s split equally between Canadian bonds, Canadian stocks, U.S. stocks and international stocks.

(You can easily construct a low-cost portfolio that tracks this asset allocation using the similarly named e-series of index funds from TD Bank.)

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The next generation of value investors: No slouches here

NORMAN ROTHERY

Norman Rothery is the value investor for Globe Investor’s Strategy Lab. Follow his contributions here and view his model portfolio here.

To the youth of today, Ferris Bueller’s Day Off is a movie from a bygone age. But the ’80s hit came back to me when I saw three teams of MBA students advising investors to “skip” a little-known company with a name reminiscent of the movie’s main character.

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Rock stars of value investing set to gather in Toronto for Fairfax meeting

NORMAN ROTHERY

Norman Rothery is the value investor for Globe Investor’s Strategy Lab. Follow his contributions here and view his model portfolio here.

Travel to downtown Toronto and you’ll notice a forest of new condo towers along the way. Their numbers are a testament to the city’s real estate boom that has drawn in speculators from around the world.

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How to find long-term dogs ready for a rebound

NORMAN ROTHERY

Norman Rothery is the value investor for Globe Investor’s Strategy Lab. Follow his contributions here and view his model portfolio here. For more Strategy Lab columns, visit tgam.ca/strategy-lab

Looking for gold in the stock market is often easier said than done.

But sometimes stocks fall down a deep hole and enterprising investors can scoop them up near the bottom.

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Why joining the Dow is a bearish signal for Apple

NORMAN ROTHERY

Norman Rothery is the value investor for Globe Investor’s Strategy Lab. Follow his contributions here and view his model portfolio here. For more Strategy Lab columns, visit tgam.ca/strategy-lab

Dashing for the last train of the night after dawdling too long is risky. Do it too often and chances are one day you’ll arrive at the platform just as the train pulls away from the station.

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Welcome to Strategy Lab


Exclusively for subscribers of Globe Unlimited, Strategy Lab provides four investment strategies from investment experts: Dividend Stocks from John Heinzl, Growth Stocks from Chris Umiastowski, Index Investing from Andrew Hallam and Value Stocks from Norman Rothery. Whatever strategy you favour, Strategy Lab will give subscribers ideas and inspirations for their own investments.



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About Norman Rothery

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