A few years back the SEC licensed a new class of ETFs called actively managed ETFs. Being a big fan of the ETF area I thought it would be worth saying a few words about this new class.
ETFs are usually passive investments, some of my favorites are those that model an entire market like the S&P 500 or the S&P TSX. These funds emulate the components of the S&P 500/TSX allowing an investor to gain a diversified exposure to the market at a very very low cost or MER. In these traditional ETFs there isn’t a fund manager making a decision about which stocks to select- which is the chief reason for the low MER.
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As readers of my blog know I have been looking for some time for a good Canadian screener, specifically a screener that allows for Graham style analysis. After finding one earlier this year that ran as an application I set my sights on trying to find one that runs as a web application. Well little did I realize but there was one right under my nose.
Zacks has been around for a while and has recently released a new beta of there free stock screener.
I am pleased to report that Zacks has the ability to create screeners that you can point at TSX.
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Originally published on: Div-Net
After much searching I found a stock screener for Canadian stocks (more on this in another post). I was able to assemble a Graham style screener with the following criteria:
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- Exchange TSX
- P/E less than 15
- Dividend Yield > 3.5
- Average EPS > 33%
- Revenue > $550M
- Current Ratio > 2
- Price/Book Ratio less than 1.5
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