BookBuilderTM 31jan16

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Page 1 of 15 January 2016 © Copyright StockTakers Limited, All Rights Reserved. Copying Prohibited.
The author does not provide investment advice. In order to use reproduce or convey the material herein,
in any way, written agreement must be obtained from the author or its agent Architypes Inc.
StockTakers Limited is an Alberta corporation providing information on “likeables” equities.
StockTakers Limited encourages your seeking tax law advisor for capital gains tax dispositions.
Defending Your Capital
BookBuilder™ is about Simply Keeping It, Yours
31 January 2016 Update
Our BookBuilderTM
portfolios aim at building the children's education fund so they do not leave
school burdened like a borax mule with vitality sapping debt. Build your own deal book. Run your
online trading income account with our “likeables” because you need "to save your own bacon."
Several quarters in a row now, the ‘professional’ portfolio managers
have shown they are confused, do not know. It is proverbial to learn
and gain wisdom, Proverbs 8:5 in fact, but provably the portfolio
management class have no wisdom, only their confusion1
. Brute
methods of pension, insurance, ETFs and mutual funds, blinked and
lost $trillions of your money controlled in pension funds, insurance
and banking instruments. Your money, put up for grabs in their zero-
sum bubble2
where their indiscretion and confusion costs us all.
All our charity portfolios need to reload and rebuild. Fight the foolishness, buy back at less than the
stoploss and greater than SF. Hold’em is the best strategy when such panicked movers play, ‘Ain’t
Mis-behavin’ Wink’n, Blink’n and Naughty as traders’ reaction to wild externalities, wild gossip
they ply on each other. Balance sheet fundamentals of what makes ‘likeable’ firms slowly change.
We suffered the Great Rotation/dilution of Quantitative Eating. China only slipped to 3% growth.
India’s median income is now 20% higher than Russians. There are a lot more joining the muddle
class. We discourage the quick fix of fossil fuelling developing economies. Look to new economies
without fossil fuel. The world cannot afford more pollution as China used to grow its Reminbi.
BookBuilder™ is about Simply Keeping It, Yours. Keeping it yours is your intention when you
save. We enable you to build value. Build your own deal book in your online trading account to
keep your capital safe and growing in value. Keep your money and obtain a hopeful return, yours.
The financial products industry covets spending your savings for themselves. They
do not see your pocket as their restraint, rather their opportunity. Do not loan them
your pocket-book on empty promises they have never delivered. Avoid these traps
laid by financial products conspiring to artfully exploit the small investor of hard-
won savings. These Artful Dodgers are just skilled pick-pockets, in suits bought
with your cash. Avoid these ‘Goats’ that come to just eat your grass, graze your
wallet, and leave. Don’t give them your wallet. “Save your own bacon."
"for the value of money is also perishable." Jean-Baptiste Say , 1803
What investors expect of financial products is a way to secure their hard earned savings while
growing their wealth. The circularity of ‘investment talk’ is what Alice gets at the Tea Party.
“Take some more tea,” the March Hare said to Alice very earnestly.
“I’ve had nothing yet,” Alice replied in an offended tone: “so I ca’n’t take more.”
“You mean you ca’n’t take less,” said the Hatter: “it’s very easy to take more than nothing.”
Pretty much, they have taken it all before you arrived. “Alice, meet Dr. Artful Dodger.”

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Holding on to the value of what you have created is fundamental. Ancient wisdom is the feast we
enjoy today will not be on our table tomorrow. You build for a hope filled future when you can do
what is in your heart and skills to take-on doing for yourself. Cash only has a temporary value that
time erodes. Cash is powerful only when it is engaged in business processes creating more wealth,
adding value. Cash must be invested to hold and grow, by adding value, earning your income.
Wall Street pillages your wallet. They say that is their job, making markets and venture capital
loans by running your money. Your want to keep what you have, but earn income on it. You want
your capital safe earning income above the inflation rate. Wall Street doesn’t talk about that or do
anything about that. Because they are selling risk and they’re good at selling risk, to you, for fees.
But, what can the small investor do with $5,000? We show, because, we can.
The Risk Price is our benchmark measure against the share price. It is our fundamental arbiter in
segregating the B-class of firms3
worthy of investment. The $toploss settings we publish for these
public portfolios should do the job of saving equity from serious harm due to market gossip induced
volatility. We shun the likely rude wealth takers, the N-class, that are not “likeables.” We
reasonably analyse balance sheets to identify and shun those doppelgangers of corporate fiction.
You want to keep your money, hopefully obtain return above the rate of inflation. Our “likeables”
stocks portfolios do this while being risk averse. The full history of trades made in these portfolios
in real time is shown. Our charity portfolios are proof of long term gain!
BookBuilder™ portfolios are of just our lowest cost "likeables" our methods identify. Because we
can, our proprietary information is given freely in charity to enable small investors to keep their
savings growing into their wealth. Our method is proven in long term portfolios earnings
consistently exceeding inflation. Grow your earned savings for children’s tuition, nest building or
retirement income. Because you need to “save your own bacon" run your online trading account
Our calculated Risk Price (SF) is provably the least stock price at which the company is “likeable”
so we can use “risk aversion”. Equities trading above our SF benchmark Risk Price are those
investors tend to like. Two of three continue to rise due investors’ behaviour. These are “likeables”
revealed by their Risk Price. This is based on new theory we prove works in the real world.
By using the mean 52 week price range to set the $topLoss on each, usually, the ‘laggards’ will be
cut before they damage capital safety. In these gossip driven market bubbles we needed to narrow
that ratio to avoid their damage. By knowing the Risk Price as a bottom reference we can also exit
and buy-back at a lower price to recover. Then continue making substantial gains as markets
rebounds. This is what we do when using the more active “collaring options4
” to profitably buy
lower or exit. By reinvesting cash to capital the portfolio grows in value through the long term
while always remaining "as good as cash” liquid whenever time comes you need some cash from
dividends running your income portfolio.

“
Throughout the year confused portfolio managers moved the massive holdings5
they claim in your
name on news and gossip churn they and their confrere’s make-up. They are like the Mock Turtle
“only took the regular courses” but have no proof. Volatility they and their confreres make
“surprising news” because they never know where they are. Convictions they have, and plenty
more6
are now finally indicted, but no reasons can they offer. No help for you comes from them,
just their litigation bill, you pay for out of their fees. Those Artful Dodgers’ baseless gambling with
your money always pays them first, for their “reasons” that do not help you.
Their rumours ping-pong nervous and unsure. They did not read or connect dots even when told,
Taper-talk fear was hot-air volatility7
tales, wagging dogs gossip. The ‘dollar per word’ market
mavens floated on Quantitative Eating. Yeah, the Fed said rates will rise when they see ‘full’
employment. One critic said, “no crisis, no trades, no money made.”
Current ‘Grexit’ crisis extends back to British, Dutch, French and German banks pursuing high
profits in derivative backed loans to Greek firms, in 2007. In 2010 IMF and ECB took over those
loans to save those banks €214 Bn loses on their risky business. By law, the public is liable for PLC
defaults, as greatest of unsecured creditors. Which public, whose pockets pay for bank folly, is the
question. FSB is sending bankers back to the Medieval Diet of high reserves and bland fees8
.
Austerity hangs everyone out to dry. Even before Keynes, US President Herbert Hoover in 1931
proposed international financial debt moratorium to fight the Great Depression. It was bank
management failure of due diligence in creating unwarranted credit bubble leading to crash the
liquidity needed for sound businesses of society that made ‘Hoovervilles’. Mellon partisan
politicking saved bankers their balance sheets at greater public expense for PLC defaults. Demand
grows economies. The business process creates ‘new money’ covering debt carried.
Cash must be engaged in effective business processes to gain from value added by valiant business
enterprises. Cash on balance sheets should be allocated to serve new demand and innovation
creating jobs in the real economy as consumers spend and demand. Managers using QE cashroll for
buying-in shares is an austerity measure that just helps them to their share bonuses, not help to
shareholders9
, or growing business with trading connections creating worth. Despite long evident
strong real growth, capitalization in jobs creation by innovation has lagged, along with political
leadership overwrought on fugitive tales from their dog-walkers.
Some mavens called DJI to hit 2000, by December 2014! The real economy is doing well but more
slowly than those fast-buck-per-word mavens want for fees hand-over-fist. The dollar-per-word
market mavens and Artful Dodger portfolio managers have no reasons. It is just gossip driving their
gambles with your money, absent a rigged game. No crisis, no trades, they make no money!
All 4 of StockTakers NYSE portfolios had doubled in less than 3 years. As our public charity
portfolios show our reasoned balance sheet analysis of firms managing their business debt structure
is proven method. Rooted in oil and minerals glut the TSX struggles to lesser gain, but can grin too.

“
We call that proof, evidence our method tends to 26% IRR gains. Those were outlier results in
mixed markets confused by conventions, newspeak, jargon and aphorisms of the confused that do
not know, and will not bother to learn. This past year the froth blow off shows the real economy
steady and slow, but still far ahead of population growth in three-fold GDP growth ratio.
We show our risk averse, capital safe, liquid investing method based on Risk Price works very
likably. All the gossip and volatility the ‘dollar-per-word’ market mavens have mumbled is their
business model ‘news’ for your trading. Those mavens whacked markets setback the August 2014
portfolios, just as in Q1-2013, trimming our outlier results. ‘Be Calm and Carry-on’ $toploss resets
ride out waves market mavens make. Our simple risk averse $toploss does well for the long term.
After riding the sad last year, the NYSE portfolio 3 year proof is 96.00%, i.e., 25.15% IRR pa. The
27 month NYSE rode half of its time through sad news to prove 35.31%, or 14.50% IRR pa. Nice.
Cash is powerful only when invested as capital to hold and grow value, adding to your wealth. Let
others chase the gamblers’ risk/reward model that rarely works. So called “financial advisors” at
institutions are risk sellers, Capital Appreciation Robbers, CAR sellers of ‘funky chicken’ products
for fee-taking leaving none for you. Do not give those Artful Dodgers your wallet
Less risk for more reward sounds unusual but “likeables” prove risk aversion is rewarded. Our
proprietary information given in charity empowers small investors to “save your own bacon.” But
you can be charitable. Consider paying-forward our charity by donating our usual 2&20 fee to
social charity. Good social and corporate works deserve10
your help building society’s wealth.
We seek accredited investors to advance what we have proven. Meanwhile enjoy our charity
providing TaxCharityTM
and BookBuilderTM
portfolios as public service, because we can. Use our
proprietary “likeables” information for the small investor to save your own bacon. Set the
$topLosses indicated and get on with earning income from your business you know best. Expand
your portfolio. You are ready for riding through more waves from comic behaviours in politics
infused market gossip. Grow your wallet, ride those waves. You know how to work and save, so
“save your own bacon” with our “likeables.” Accredited investors should call us for 12% bond11
.
BookBuilderTM
Portfolios Update List – 31 January 2016
NYSE BookBuilderTM
"likeables" Firms
(30 November 2012)
Market
Price
Symbol SF
(Risk Price)
Stop/Loss
(See prior posts for early trading history)
Buy-ins 31aug15 *100 shares each
American Capital Ltd. ($13.0 stopLoss 15sep15) ACAS 13 13.4
ChemoCentryx Inc. ($6.0 stopLoss 16sep15) CCXI 6 6.5
Hudson City Bancorp Inc. ($9.0 stopLoss 24sep15) HCBK
Janus Capital Group Inc. ($15.1 stopLoss 05dec15) JNS 10 13.0
Logitech International S.A. 14.50 LOGI 8 14.6
Peoples United Fincl Inc. ($16.3 stopLoss 08dec15) PBCT 14 15.7
Buy-ins 31sep15 *100 shares each

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Brocade Comm. Sys. Inc. ($9.9 stopLoss 20nov15) BRCD:NASDAQ 8 8.4
Callaway Golf Co. ($9.7 stopLoss 09dec15) ELY 7 9.0
Huntington Bancshares Inc. ($11.4 stopLoss 03dec15) HBAN:NASDAQ 9 10.4
Hudson City Bancorp Inc. ($9.6 stopLoss 02oct15) HCBK 0.0
Buy-ins 31oct15 *100 shares each
Wendys International Inc. ($10.3 stopLoss 06jan16) 10.30 WEN:US 6 10.3
Buy-ins 30nov15 *100 shares each
Opko Health Inc. ($9.3 stopLoss 06jan16) 9.30 OPK 9 8.1
Buy-ins 31dec15 *100 shares each
Callaway Golf Co. ($9.0 stopLoss 11jan16) 9.00 ELY 7 9.0
Huntington Bancshares Inc. ($10.8 stopLoss 04jan16) 10.80 HBAN 9 10.4
Janus Capital Group Inc. ($13.4 stopLoss 07jan16) 13.40 JNS 10 13.0
NEC Corporation 3.23 NIPNF 3 3.0
Peoples United Financial Inc. ($15.8 stopLoss 04jan16) 15.80 PBCT 14 15.7
ShoreTel Inc. ($8.5 stopLoss 05jan16) 8.50 SHOR 6 8.3
NYSE BookBuilderTM
2012 Portfolio *100
Shares (incl. Dividendsª) 31 January 2016 / 30 November 2012
10029.50 /5460.00 Gain 37.0
months
83.69%
IRR pa 21.17%
Net Cash Forward * 100 (after buy-ins 31dec15) 115.00
Net Cash * 100 (after stoploss HCBK) 9160.00
Net Current Cash Forward * 100 9275.00
Buy-ins 31jan16 *100 shares each
Atmel Corporation 8.06 ATML:US 7 7.5
Callaway Golf Co 8.71 ELY 7 8.4
Gannett Company Inc 14.84 GCI:US 12 13.9
Janus Capital Group Inc 12.23 JNS:US 10 11.3
Peoples United Financial Incorporated 14.37 PBCT:US 14 13.9
ShoreTel Incorporated 8.21 SHOR 6 7.7
Talmer Bancorp Incorporated 16.06 TLMR 14 15.3
Wendys International Incorporated 10.23 WEN:US 6 9.8
Net Cash Forward * 100 (after no buy-ins 31oct15) 4.00
Cash Dividends earned 358.50
Total Cash Available 362.50
NYSE BookBuilderTM
2012 Portfolio *100
Shares (incl. Dividendsª) 31 December 2015 / 30 November 2012
10425.50 /5460.00 Gain 37.0
months
90.96%
IRR pa 23.34%
Stop-loss settings intend to defend capital from unusual negative market volatility in case of such

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irrational market mavens’ pressures of Q3-2014 through Q3-2015. Irrationally volatile swings
occurred without regard for reason as stock prices sharply rebounded. Capital was defended by
stoploss settings as intended but you must rebuild the portfolio with successive replacement buy-
ins as shown below.
We have progressively tightened our stoploss settings to less than a standard deviation on a 52
week rolling range12
of a stock’s price. That does incur an added ‘churn’ cost of buying after
selling at the triggered stoploss setting. That is a consequence of exercising capital safety. There
are benefits to doing that.
(Pending Need for Change or investing new Savings)
Peoples United Financial Incorporated 14.37 PBCT:US 14 13.9
Smith & Wesson Holding Corporation 21.56 SWHC:US 12 19.7
Western Union Company 17.84 WU:US 16 16.9
Vigilance while these below are nearing but still trading below Risk Price and not yet “likeables” so are
still not risk averse buy-ins.
Alcoa Inc 7.29 AA:US 10 5.9
Camtek Limited 1.88 CAMT 3 1.6
LM Ericsson Telephone Company 8.9 ERIC:NASDAQ 11 8.3
New NYSE 2013 Portfolio Buyins *100 shares
(31 August 2013 )
4397.00
Achillion Pharmaceuticals Inc. ($9.3 stopLoss 07jan16) 9.30 ACHN 2 9.0
Carrefour SA ADR ($6.3 stopLoss 13nov15) CRRFY:US 5 5.5
Monster Worldwide Inc. ($5.9 stopLoss 10dec15) MWW 6 5.1
Office Depot Inc. ($6.8 stopLoss 19nov15) ODP 4 5.0
Rite Aid Corporation 7.79 RAD:US 6 7.4
ShoreTel Inc. ($8.5 stopLoss 05jan16) SHOR 6 8.3
Mitsubishi UFJ Fin’l Inc. ADS ($6.2 stopLoss 11dec15) MTU:US 6 5.8
Office Depot Inc. ($6.1 stopLoss 07dec15) ODP 4 5.0
ChemoCentryx Inc. ($7.4 stopLoss 04jan16) 7.40 CCXI 6 6.5
Callaway Golf Co. ($9.0 stopLoss 11jan16) 9.00 ELY 7 9.0
Monster Worldwide Inc 5.30 MWW 6 5.1
Office Depot Inc. ($5.2 stopLoss 12jan16) 5.20 ODP 4 5.0
ShoreTel Inco. ($8.5 stopLoss 05jan16) 8.50 SHOR 6 8.3

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BookBuildersTM
2013 NYSE Current Portfolio
(including dividendsª) 31 January 2016 / 31 August 2013
5395.60 /4397.00 Gain 29.0
months
22.71%
IRR pa 8.84%
This result is far less than our expected long term tendency. However, it is cause for celebratory
hats and horns. This portfolio has gone through 16 months of volatile and negative market
behaviour, more than half of its interval. This portfolio has demonstrated resilience even using the
less effective stoploss regime. We know the pursuit of framing options to collar exit or holds
guided by the Risk Price is more lucrative.
Over these twenty-eight months this portfolio has trebled the performance of the hedge funds. This
portfolio has proven stunningly better result for the small investor than any conventional finance
industry product. The result in gain obtained is vastly better than any bond or mortgage and
always is liquid for the small investor needing access to an emergency pool of their wealth.
Net Cash Forward * 100 shares 30sep15 Buy-ins 14.00
Net Cash * 100 (after $toploss) 4470.00
Net Current Cash * 4484.00
Achillion Pharmaceuticals Incorporated 6.79 ACHN 2 5.7
Callaway Golf Co 8.71 ELY 7 8.4
JA Solar Holdings Company Limited ADS 8.92 JASO: 8 8.3
Office Depot Inc 5.15 ODP 4 4.5
SLM Corporation 6.4 SLM 6 5.7
ShoreTel Incorporated 8.21 SHOR 6 7.7
Net Cash Forward * 100 (after buy-ins 31jul2015) 66.00
BookBuildersTM
2013 NYSE Current Portfolio
5395.60 /4397.00 Gain 29.0
months
22.71%
IRR pa 8.84%
BookBuildersTM
New NYSE 2014 Portfolio
Set 31 August 2014
4925.00
Carrefour SA ADR ($5.9 stopLoss 11dec15) CRRFY:US 5 5.5
MFA Financial Inc. ($6.6 stopLoss 14dec15) MFA 7 6.3
Sirius XM Radio Inc. ($4.0 stopLoss 08dec15) SIRI:NASDAQ 3 3.9
ZTE Corporation ADR ($3.9 stopLoss 07jan16) 3.90 ZTCOY:US 3 3.9

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BAE Systems PLC ORD ($7.1 stopLoss 19jan16) 7.10 BAESF:US 6 7.2
Carrefour SA ADR ($7.1 stopLoss 06jan16) 5.50 CRRFY:US 5 5.5
Rite Aid Corporation 7.79 RAD:US 6 7.4
SLM Corporation ($6.0 stopLoss 07jan16) 6.00 SLM 6 5.8
BookBuildersTM
(including dividends*) 31 December 2015 / 31 August 2014
3786.00 /4925.00 Gain 17.0
months
76.87%
Net Cash Forward * 100 shares 31dec2015 Buy-ins **111.00 ** RAD 30sep15
Net Cash * 100 (after $toploss sales) 2250.00
Net Current Cash 2361.00
Achillion Pharmaceuticals Incorporated 6.79 ACHN 2 5.7
MFA Financial Incorporated 6.35 MFA 7 6.0
Sirius XM Radio Inc. 3.70 SIRI 3 3.6
ZTE Corporation ADR (H Shares) 3.40 ZTCOY:US 3 3.0
Net Cash Forward * 100 (after buy-ins 31jan16) 14.00
BookBuildersTM
(including dividends*) 31 January 2016/ 31 August 2014
3786.00 /4925.00 Gain 17.0
months
76.87%
Fund managers are sitting on your money to lose it in their ‘Great Rotation’ to buy bonds a churn
which will freeze into ill-liquid low interest less than inflation now to be discounted even more
later when sold to regain liquidity. For this they claim fees, they win, so you lose twice. The pool
of low price point range of ‘likeables’ is now smaller. The August 2014 started portfolio seems an
unwelcome outlier, dogged by this group of low price ‘likeables’ having a high negative volatility
range. We stay in the market, to resist loss and wait for the rebound, always liquid. This portfolio
will be on a long hill to climb back up but only staying in the market can make that climb.
The biggest miscall of the market gossips sky fall driving volatility is that world gross production
still exceeds world population growth by a factor of 3. The world economy is growing. Consumers
of high value added production remain consuming near 13 times more than population growth in
the Euro-American nations. That should be aligned if the world economies were near stagnant.

“
High value added production of Chinese (Indian Bengal Bay peninsula and Indonesian archipelago
and others are not far behind) workshops to the world still exceeds the population growth of high
income nations buying high value consumer goods by a factor of 13. Chinese domestic
consumption from its household formations is its own internal problem, while households’
formation buying durable goods in the rest of the developing world is still rising.
These factors are driven by patents technology and money rents paid to leading Euro-American
corporations. The Euro-American consumers’ appetites expressed as their GDPs are still rising at
more than quintuple their rate of population growth. Durable goods needed to supply new
households forming in Europe for war refugees rebuilding lives and opportunities will stimulate
welcoming economies.
The five thousand year rivalry of tribal fiefs in their plundering for middle east spoils regardless of
religious spurs will spoil over oil decline as fuel is overtaken by innovating entrepreneurship. The
finest individuals of those fractious intrigues have escaped servility to seek their individual agency
among the developed economies giving refuge for their energy and range. Those that do not return
will spur innovation and growth in the receiving nations the middle east will be permanently
denied the human resource ‘Arab Spring’ was about. The amiable educated and more able with
finer dispositions will stay in refuge nation’s safety. The belligerents with short views return.
These are the fundamentals driving international trade and macroeconomics the gossips are blind
from seeing. However as one pundit said, politics is all local, so is conventional vision of
economics, plagued by not seeing the larger view. Volatility will settle as these notions make their
corrective impact and market gossips find some other sky falling. As another pundit reminded,
Stay Calm and Carry On. Stick to our knitting and climb back. By effort dark times diminish.
Engage “Likeables” and save your own bacon.
Equities that tend to hold their value and gain are better than cash. We like risk aversion, Capital
Safety and Liquidity because we have proven that works, for low risk and high AlphaSmartTM
gains.
For small savings it is needful but arbitrary you feed at the low price-point end of "likeables" found
in the market. These “likeables” are used in the BookBuildersTM
fitting criteria for small investor
portfolio needs. What is essential in your portfolios is that you buy a full complement of at least
eight or preferably more equities at any time. (We prefer equal blocks of 100 shares. That allows us
'collaring options' an aggressive exit strategy to maximize gains (instead of passive stop-loss) as
many “likeables” rebound so ‘collaring’ lets us hold through volatility and earn more gains13
).
Do not expect perfect of Risk Price. Tendency for gain is not the same as pin-the-point on the mule
as most claim, encourage or seek. Let others chase the gamblers’ risk/reward model. Risk Price is
what investors need to know. Risk aversion comes of a diverse range of our “likeables” in your
portfolio. Our proprietary “likeables” information allows small investors to save your own bacon.

“
TSX 2012 BookBuilderTM
“Likeables”
Portfolio (set 30 November 2012)
Market
Price
Symbol SF
(Risk Price)
Stop/Lo
ss
Buy-ins 31jul2015 *100 shares each
Advantage Oil & Gas Ltd. ($7 stopLoss 10aug15) AAV 5 7.2
Choice Properties REIT ($11.1 stopLoss 21aug15) CHP.UN 10 11.7
Chorus Aviation Inc. (($5.7 stopLoss 21aug15) CHR.B 5 5.5
Heroux-Devtek Inc. 12.70 HRX 9 12.3
BlackBerry Limited. ($9.0 stopLoss 25sep15) BB 8 9.2
Chorus Aviation Inc. ($5.4 stopLoss 11jan16) 5.40 CHR.B 5 5.5
Extendicare Inc. ($9.4 stopLoss 04dec15) EXE 7 8.8
Martinrea Intl Inc. ($11.0 stopLoss 22sep15) MRE 10 8.7
NovaGold Resources Inc. ($4.4 stopLoss 06nov15) NG 4 5.5
Premier Gold Mines Ltd. ($2.2 stopLoss 06nov15) PG 2 2.3
Buy-ins 30sepl2015 *100 shares each
Cott Corp. ($12.6 stopLoss 10nov14) BCB 8 13.6
Choice Properties REIT ($11.4 stopLoss 06nov15) CHP.UN 10 11.7
Martinrea International Inc. ($10.4 stopLoss 26nov15) MRE 10 8.7
Air Canada ($9.5 stopLoss 07jan16) 9.50 AC.TO 8 8.9
Aecon Group Inc. ($14.5 stopLoss 08jan16) 14.50 ARE 14 13.7
BlackBerry Ltd. ($11.7 stopLoss 06jan16) 11.70 BB 8 9.2
Just Energy Group Inc. ($9.3 stopLoss 07jan16) 9.30 JE 6 8.8
Martinrea International Inc. ($9.8 stopLoss 14jan16) 9.80 MRE 10 8.7
Alacer Gold Corp. ($2.3 stopLoss 15jan16) 2.30 ASR 3 2.0
Lake Shore Gold Corp. 1.27 LSG 0 1.2
NovaGold Resources Inc. ($5.5 stopLoss 12jan16) 5.90 NG 4 5.5
.
Portfolio Value
(including dividendsª) 31 January 2016 / 30 November 2012
8732.10 /6391.00 Gain 38.0
months
36.63%
IRR pa 10.35%
Net Current Cash after 31dec15 Buy-ins *100 shares 45.00
Net Cash * 100 (stoploss ) 680.00
Net Cash for Buy-ins *100 shares 725.00
Aecon Group Inc. 14.51 ARE 14 13.7
BlackBerry Limited 9.99 BB 8 9.2
Cott Corporation 14.37 BCB 8 13.6
CAE Inc. 14.63 CAE 13 14.2
Chorus Aviation Inc. 5.37 CHR.B 5 5.1

“
Just Energy Group Inc. 9.31 JE 6 8.8
Portfolio Value
(including dividendsª) 31 January 2016 / 30 November 2012
8732.10 /6391.00 Gain 38.0
months
36.63%
IRR pa 10.35%
Removal of Quantitative Eating combined with oil and gas bloat has made unusual down-side
volatility in all markets this past year. To that adjustment now older Greece and newer China
issues added spooky gossip, a ‘sea-change’ of stoplosses was triggered by these gossip storylines.
Balance sheets did not flip-flop, but portfolio managers did, unrelated to ‘fundamentals’ of value
investing14
. Our tighter $toploss values reduce risk of loss. All of the stocks in our public
portfolios15
simply rebounded. Most, still trading well above Risk Price can be bought back for
less. Take the ‘short-sell’ bonus and buy those back.
Collaring options can be very useful in added gains but it requires a lot more attention. Stoploss
is a simpler approach. Again we must rebuild for gain hopeful calmer markets will soon return.
Price has no mass - gravity like gossip fluctuates, apparently both being ‘dark energy’ forces.
Political shift to fuller renewal of infrastructure is now at forefront with income equality. All the
‘canards’ must walk the political stage while the real economy slowly inches its recovery
forward, while absorbing other peoples abuse of ‘credit float’ in the sea of moral hazard they had
created. Managers running corporate avatars have much to account.
The reality that ‘treacle-down’ never worked is roosting, as much as, austerity is impoverishing
in hard times when innovation and investment are needed to ‘credit float’ warranted investment
in valiant business processes and enterprises in the real economy. Austerity drains ‘credit float’
from even real economy worthy enterprises as otherwise add worth and wealth in their business
process, making ‘money’ to put in our pockets and allocate as we wish or save in ‘likeable’
equities hopeful of gain. Cash is better ‘cached’ into capital-creating ‘likeables’ equities, adding
worth for you.
New TSX 2013 Portfolio Buyins *100 shares
Set 31 August 2013
6282.00
Buy-ins 31aug2015*100 shares each

“
BlackBerry Limited ($9.0 stopLoss 25sep15) BB 8 9.2
Heroux-Devtek Inc 12.70 HRX 9 12.3
Kirkland Lake Gold Inc. ($5.1 stopLoss 12nov15) KGI 4 4.6
Martinrea Intl Inc. ($11.0 stopLoss 22sep15) MRE 10 8.7
Buy-ins 30sep2015*100 shares each
Altius Minerals Corp. ($11.8 stopLoss 06nov15) ALS 9 7.3
ATS Automtn Tooling Sys Inc. ($13.2 stopLoss 05nov15) ATA 11 9.8
RONA inc. ($13.0 stopLoss 09nov15) RON 12 11.4
Buy-ins 31oct2015*100 shares each
Silver Standard Resources Inc. ($8.4 stopLoss 05nov15) SSO.TO 8 5.4
Buy-ins 30nov2015*100 shares each
Advantage Oil & Gas Ltd. ($6.5 stopLoss 11jan16) 6.50 AAV 5 7.2
Algonquin Power & Utls Corp. ($10.5 stopLoss 18jan16) 10.50 AQN 9 11.0
Altius Minerals Corp. ($11.0 stopLoss 03dec15) ALS 9 7.3
ATS Automation Tool Sys. Inc. ($12.3 stopLoss 07dec15) ATA 11 9.8
Just Energy Group Inc. ($9.3 stopLoss 07jan16) 9.30 JE 6 8.8
Silver Standard Resources Inc. ($6.5 stopLoss 14jan16) 6.50 SSO.TO 8 5.4
Buy-ins 31dec2015*100 shares each
Altius Minerals Corp. ($9.5 stopLoss 07jan16) 9.50 ALS 9 7.3
ATS Automation Tlg Sys Inc. ($10.9 stopLoss 05jan16) 10.90 ATA 11 9.8
New TSX 2013 BookBuilderTM
Portfolio
7532.40 /6282.00 Gain 29.0
months
19.90%
IRR pa 7.74%
Net Current Cash after 30nov15 Buy-ins *100 shares 78.00
Net Cash * 100 (stoploss sakeCLSs) 5800.00
Buy-ins 31jan16*100 shares each
ATS Automation Tooling Systems Incorporated 10.64 ATA 11 9.8
Choice Properties REIT 11.85 CHP.UN 10 11.7
Intertape Polymer Group Incorporated 16.2 ITP 15 15.3
Just Energy Group Inc. 9.31 JE 6 8.8
NovaGold Resources Inc. 5.9 NG 4 5.5
Net Current Cash after 31dec15 *100 share Buy-ins 21.00

“
New TSX 2013 BookBuilderTM
Portfolio
7532.40 /6282.00 Gain 29.0
months
19.90%
IRR pa 7.74%
(Pending Need for Change or investing new Savings)
Advantage Oil & Gas Ltd. 7.65 AAV 5 7.2
Choice Properties REIT 11.85 CHP.UN 10 11.7
Great Canadian Gaming Corp 17.85 GC 14 16.6
BookBuilderTM
New TSX 2014 “Likeables”
$5,000 Portfolio (31 August 2014 *100 share Buy-ins)
4871.00
Buy-ins 30jun2015 *100 shares each
Algonquin Power & Utilis Corp. ($9.2 stopLoss 09jul15) AQN 9 11.0
Heroux-Devtek Inc. 12.70 HRX 9 12.3
Buy-ins 31jul2015 *100 shares each
Atlantic Power Corp. ($3 stopLoss 06aug15) ATP 3 2.4
Kirkland Lake Gold Inc. ($5.1 stopLoss 12nov15) KGI 4 4.6
Lundin Mining Corp. ($4.2 stopLoss 19aug15) LUN 5 3.0
Nevsun Resources Ltd. ($4 stopLoss 05aug15) NSU 4 3.5
Extendicare Inc. ($9.4 stopLoss 04dec15) EXE 7 8.8
Guyana Goldfields Inc. ($3.2 stopLoss 26oct15) GUY 3 3.4
NovaGold Resources Inc. ($4.4 stopLoss 06nov15) NG 4 5.5
OceanaGold Corp. ($2.0 stopLoss 28sep15) OGC 2 2.7
Premier Gold Mines Ltd. ($2.2 stopLoss 06nov15) PG 2 2.3
Semafo Inc. ($3.0 stopLoss 03sep15) SMF 3 3.2
Alacer Gold Corp. ($2.6 stopLoss 30oct15) ASR 3 2.0
Western Forest Products Inc. ($2.1 stopLoss 07jan16) 2.10 WEF 1 1.9
Buy-ins 31oct2015 *100 shares each
Lake Shore Gold Corp. ($1.0 stopLoss 23nov15) LSG 0 1.2
OceanaGold Corp. ($2.3 stopLoss 20nov15) OGC 2 2.7
Western Forest Products Incorporated 2.10 WEF 1 1.9
Kirkland Lake Gold Inc. 4.99 KGI 4 4.6
OceanaGold Corp. ($2.4 stopLoss 07dec15) 2.40 OGC 2 2.7
Premier Gold Mines Ltd. ($2.5 stopLoss 18jan16) 2.50 PG 2 2.3
Alacer Gold Corp. ($2.5 stopLoss 20jul15) 2.30 ASR 3 2.0
Guyana Goldfields Inc. 3.67 GUY 3 3.4

“
NovaGold Resources Inc. ($5.5 stopLoss 12jan16) 5.50 NG 4 5.5
BookBuilderTM
4367.20 /4871.00 Gain 17.0
months
89.66%
Net Current Cash (after 30nov15 *100 share Buy-ins) 48.00
Net Cash * 100 (on stoploss GUY ASR) 2050.00
BlackBerry Limited 9.99 BB 8 9.2
Premier Gold Mines Limited 2.49 PG 2 2.3
Western Forest Products Incorporated 2.09 WEF 1 1.9
BookBuilderTM
4367.20 /4871.00 Gain 17.0
months
89.66%
Vigilance while these below are nearing but still trading below Risk Price and not yet “likeables” so are
still not risk averse buy-ins.
Artis Real Estate Investment Trust 12.08 AX.UN 14 11.5
Enerflex Ltd. 12.85 EFX 19 12.0
NuVista Energy Ltd. 4.50 NVA 8 3.6
Engage “likeables” and save your own bacon.
Our reasons for having any equity in our portfolios are clear, concise and consistent, “likeables” are
equities valued by market investors, 2 of 3 tending to gain, as investor preferences hold the stock at
prices above the Risk Price. “AlphaSmartTM
gains, Capital Safety and Liquidity” are consequences
we obtain through risk aversion that our Risk Price enables. That is proven.
It is the price of risk16
because that’s the price at which we can reasonably expect to get our money
back with a possible and hopeful return that exceeds the rate of inflation. That proof is here in your
hands, as we continue to show as above, because, we can.
Know What You Have, and only, Have What You Know.
Our view is risk averse. Of course we require 2&20 fees for doing that. Mail us for our help.

“
Hans Goetze,
Architypes Inc. architypes@gmail.com and StockTakers Limited
Head Office
76 Midridge Close SE
Calgary, AB
T2X 1G1
351 Chemin Boulanger
Sutton, PQ
J0E 2K0
450 538-1270
1
http://riskwerk.com/2012/06/05/economics-is-confusing/
2
http://riskwerk.com/2015/08/27/pi-extreme-economics-the-worlds-bubble-wrap/
3
E. Goetze,“The Modal Geometry of the Firm and the Balance Sheet Worth of the Trading Connections”, 2006
4
http://riskwerk.com/2012/09/22/popovicius-volatility/
5
http://www.economist.com/news/leaders/21676767-entrepreneurs-are-redesigning-basic-building-block-
capitalism-reinventing-company?cid1=cust/ednew/n/n/n/20151022n/owned/n/n/nwl/n/n/n/email
6
banks have paid nearly $230 billion in litigation costs since 2009 http://www.reuters.com/article/2015/01/13/us-
banking-litigation-research-idUSKBN0KM10G20150113
7
http://www.marketwatch.com/story/only-a-black-swan-will-bring-back-stock-volatility-2014-05-18 These Goldilocks
and the Black Swans are confused by the tales even the VIXens siren to investors.
8
http://www.slideshare.net/HansGoetze/medieval-diet
9
http://www.economist.com/news/leaders/21676767-entrepreneurs-are-redesigning-basic-building-block-
capitalism-reinventing-company?cid1=cust/ednew/n/n/n/20151022n/owned/n/n/nwl/n/n/n/email
10
http://www.slideshare.net/HansGoetze/the-corporate-social-on-our-best
11
http://www.slideshare.net/HansGoetze/stocktakers-12-bond
12
http://riskwerk.com/2012/09/22/popovicius-volatility/
13
http://riskwerk.com/2013/05/03/the-sp-tsx-hangdog-market/
http://riskwerk.com/2013/05/21/the-sp-tsx-hangdog-market-2/
http://riskwerk.com/2013/08/10/the-sp-tsx-hangdog-market-3/
14
https://en.wikipedia.org/wiki/The_Intelligent_Investor
15
http://riskwerk.com/2013/05/18/the-real-intelligent-investor/
16
http://riskwerk.com/2012/08/26/the-price-of-risk/

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