STOCKCHASE

He did like it and he did get out previously. There is great cash on the books. Generally descent performance. The one negative is that it has a lot of institutional and pension business. The best part of the business is the private client business because of better fees. It’s relatively cheap and a chance there could be a takeover, although he is not sure they are set up for it. He is not interested in this point in time but it probably could go up from here.

2009-11-24

TOP PICK

5.460

Has a positive view on asset/investment managers. A very highly leveraged business in that most firms have enough people to allow them to significantly increase assets over the next 5 years. Looking for 10%-11% annual growth. Expecting a dividend increase next year. Look to hold for 3-5 years and take your time buying.

2009-10-01

TOP PICK

5.160

Alexander Lane, B Comm, C

6th largest money manager in Canada and is dirt-cheap. 4.8% yield is safe.

2009-09-10

PAST TOP PICK

5.490

(A Top Pick Feb 6/07. Down 42.43%.) Wealth management. You need to find companies with good strong track record of performance, relationship with the clients and ability to attract new business.

2009-06-29

PAST TOP PICK

7.000

(A Top Pick Nov 1/07. Down 26%.) Bought this after the stock collapsed but didn't see as much after growth is expected, so sold his holdings. 6.6% yield.

2008-11-05

HOLD

7.800

In the institutional and no-load investment fund space. Suffered a drop last year because their small-cap manager left but that didn’t really affect them. Have great managers. Because of market volatility it is hard for them to grow in this market. Will do better over a long-term. Pays a good dividend.

2008-07-24

PAST TOP PICK

9.320

(A Top Pick May 17/07. Down 23%.) Sold about half his position at around $13. Still likes the company.

2008-05-28

Comment

9.100

In the small cap asset management space. Small caps are being hit hard because of the liquidity issue. Also got hurt when one of their managers left to go to another firm although his fund has continued doing well if not better. No dent on the balance sheet. Have improved their costs. Thinks it will do well longer term and looking for it to recover in the next year or so.

2008-02-05

TOP PICK

10.200

Stock fell apart when one of their key managers left to go to a hedge fund. Have grown their assets and have very good performance with their other products. Very good story at these levels. Pays a good yield.

2007-12-13

TOP PICK

9.500

Great dividend yield. Dropped recently because one of the top small-cap managers left. Has not seen any redemptions from their fund and the performance has actually gotten better. Trades at a 12 X multiple. They're an institution money manager and their performances all through their offering are very good.

2007-11-21

TOP PICK

10.700

4.5% yield. Reduced their cost structure considerably. Performance has turned around really nicely in a lot of their core products. Because they have institutional money they are in a lot of mandates to win pension fund assets.

2007-11-01

PAST TOP PICK

10.440

(A Top Pick Nov 7/06. Up 24.2%.) Great asset manager. They are more in the institution pension market. Great cash flow company. Still a Buy.

2007-10-03

TOP PICK

10.850

One of the lead portfolio managers of the small cap funds left and the stock dropped. Feels that the younger managers will come up and fill the space quite nicely.

2007-07-19

TOP PICK

10.500

Stock has fallen due to a (top) manager leaving. The performance on their other assets is still very good. It fell too far.

2007-06-28

TOP PICK

12.930

A recovery story. Costs were out of line 3-5 years ago. Used to be a $12 billion asset. Deal mostly in the institutional market. Numbers have been fantastic. Have a lot of cash on the books.

2007-05-17

BUY

12.400

started owning at 5 ½ dollars. Performance has been amazing. Still a good point to buy in.

2007-05-03

BUY

12.300

Great company, has some “doggy years” but is a great long term buy. Be prepared for bumps, as it isn't very actively traded, so if something goes wrong you could have a nasty downtake.

2007-05-02

TOP PICK

11.580

Alexander Lane, B Comm, C

(A Top Pick Nov 7/06. Up 30.8%.) Picked it as a turnaround story. Expanding very well. $10 million cash on the books.

2007-03-19

Comment

11.650

Michael Sprung

Has better transparency in the discipline of their investment approach. Gaining market share.

2007-02-20

TOP PICK

10.790

Have put up some very good numbers over the last few years. Strong management. The most recent quarter showed a 43% earnings growth and expects they can grow 35%-40% this year, followed by 20%.

2007-02-06

TOP PICK

8.410

Institutional money managers. Their performance has turned around, and when this happens, it takes a while to get assets. There will probably be an increase to their assets which would drop right to the bottom line. Have $20 million on the balance sheet. 3.5% yield.

2006-11-07

BUY

8.200

Jonathen Wellum, B. Comm, B. Sc

Their performance has turned around. They have cut costs down. It has been restructured and you will see benefits.

2006-04-04

BUY

6.400

David Taylor, MBA, CFA

Too illiquid for his funds. Expects there will be a continuation of the consolidation of the money management industry. Great numbers. Well run. Prefers AGF Management (AGF.NV-T).

2005-08-29

BUY

6.200

Ian Nakamoto

Rebuilding a track record that was once very good. Not a bad investment. Relatively good dividend. A long term play.

2004-11-02

DON'T BUY

7.710

James Cole, BA, CFA

Has suffered from a partnership with Putnam Funds which had poor performance and scandals. Revenues and earnings were up in the last quarterly report.

2004-06-30

BUY

7.150

David Taylor, MBA, CFA

Likes it, but too illiquid for his fund. Cheap. Good management.

2004-04-06

DON'T BUY

7.000

No debt and pays dividends. Performance has suffered so they had a retrenchment of assets under management. Could be an attractive takeover. Would prefer others that are growing more aggressively.

2004-04-02

HOLD

7.000