TaxCharityTM 15sep2016

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Page 1 of 19

September 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.

Defend Your Capital, from Dick Turpin - TaxCharityTM Update

15 September 2016

Equities trading above our benchmark Risk Price (SF) are those investors ‘like’, as two of three

price rise due to investors’ preference. We call these equities ‘likeables’. They are revealed by their

rise above Risk Price, our metric that investors must know to defend their capital1.

Cash must be engaged in business ideas with valiant balance sheets or it loses value. That is simple

fact. For small savings it is needful but arbitrary your portfolio feeds at the low price end of

"likeables" as we find in balance sheets. Equities that tend to hold their value and gain are better

than cash. Risk Aversion, Capital Safety and Liquidity in ‘likeables’ we prove works for you.

Economies grow because they achieve our intended function of adding value. It is timeless fact

economic theory conventions do not grasp. That timeless process we all engage in, some achieve

more than others but all the same, what surrounds us is our legacy, our cultural added value. What

value we add, we trade in. That process is the root of our economic life in society, whether we

carve red deer antler into shamanic tribal totems; take muck and straw to make adobe cities; clay to

make bricks and build Hagia Sofia; quartz to make jewels and watches; lithium oil and silicone to

make cellphones; or mould nano-fibre carbons into plane wings, that process is how we engage in

business as society. Corporations are social formations allowing we engage in what we can grasp.

Society should not seek equilibriums (biologic death, or precedent to the Big Bang) but seek new

disruptions, new mistakes, and make new innovations. To achieve those feats we trade and gain,

make sweat and grant credit in such ventures. Business is a social process we think merits the worth

of our engagement, our investment of cash sweat and treasure. All business process needs credit to

flow through it, though most can only see the cash and account alone that static. That is all they can

see to measure. How credit flows through companies makes patterns2, as sun storms make auroras,

or blood pressure allows neural patterns. Cash is one liquidity all business uses, of many ‘credits’.

The Financial Industry is near a third of all modern nations GDP as

measured by economics convention wizards. Does the Financial

Industry add that much value to the real economy by their means to

cash liquidity business processes need? It is an ‘industry’ that takes

more value than it makes. Their designate tolls on its road to

liquidity are greater than value added. Their swagger and panache as

Dick Turpin or Claude Duval covers their ill-mannered reach as they

and their henchmen plow your purse to plunder, taking as is they

please. How is your nest egg investment in their retirement plan schemes doing in their hands?

They will retire early, while you like the rest call the police to the scene of their cold crime. Do not

give them your wallet for ill-conceived bombast schemes they propound for their aggrandisements.

That goes all the way to the top executives whose ethics are at least, "If you ain't cheating, you ain't

trying." In the case of LIBOR as much as $6.25 Trn has been skimmed. Is it “to hard to tell” Loretta

"there is risk in what you do not or cannot know." Thomas Tooke, 1844

"for the value of money is also perishable." Jean-Baptiste Say , 1803

http://www.slideshare.net/HansGoetze/the-grail-and-the-goat-portfolios

http://riskwerk.com/2012/08/26/the-price-of-risk/

http://www.reuters.com/article/2015/05/20/us-banks-forex-settlement-idUSKBN0O50CQ20150520

http://www.reuters.com/article/2015/05/20/us-banks-forex-settlement-idUSKBN0O50CQ20150520

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15 September 2016

Lynch? Try the back of an envelope, 0.001% shift on $5 Trn per day in that market for five years,

$6.25 Trn taken from us. To the five banks fined $5.0 billion is 0.0008% of their $6.25 Trn taken.

Firing a few associates with zero authority as ‘goats’ is the cost of their doing such business. Those

severed will be without bonus or benefit, all trickling to the executives. So no further examinations

are deemed necessary? Too big to fail, too big to jail3, no matter how egregious the scene of their

crimes they will pump the public’s purse on SEC waivers from prosecution.

Even seen as outrageous ‘opening card’ is the $14.0 Bn claim in DoJ suit filed on 16sep2016

against Deutsche Bank for its mortgage default crisis victims. DBK claims settlement will be much

less4. A Tax on their skimming moral natural persons wealth that was victimized. Have our

institutions acquiesced to allow the unethical self-serving corporate picaroon raiding the common

good, given up on liberal democracy for and by individuals that created the corporate person? Our public TaxCharityTM and BookBuilderTM portfolios continue unusual long term gain on our

new theory of the firm. With our StockTakers 12% bond we seek accredited investors to advance

the impact of what we have proven. Leave the work to us, because we can. We consistently obtain

both low risk and AlphaSmartTM high gain. Meanwhile small investors enjoy our charity as proof.

We partition the entire market for “likeables” relying on distribution for results in small portfolios.

The larger your “likeables” portfolio will tend to average 26% per annum Internal Rate of Return as

proven through DJI’s two recessions of these past 13 years. See our articles StockTakers’ 2012Q1

bite on DJI5. and The Counter Culture: Case for a Can Opener6. Our work stands on giants

insights of three very different laureates, more, on evidence. Our ‘likeables’ portfolios are proof.

What proof does convention offer? Right that is an oxymoron7. Convention is flat-landers in a

global reality. Fund managers as financial advisors are just financial products and used equities

sellers who never kick the tires or check the fluids, because they do not know better. Do not give

those Artful Dodgers your wallet. Engage our ‘likeables’ and save your own bacon.

Financial industry advisors are schooled selling financial

products to exploit small investor savings for taking their fees.

They are not changing their tools or sharpening those dullards

they have. They took the “regular courses” to be certified in a

self-regulated industry that only deals in their creative fictions.

Seemingly, certification requires intensive study in the key tools

of Rhetoric - Adumbration, Subterfusion, Mystification and

Derogation. Hmm, that sounds familiar.

“I only took the regular courses,” sighed the Mock Turtle.

“What was that?” inquired Alice.

“Reeling and Writhing, of course, to begin with, and then the

different branches of Arithmetic – Ambition, Distraction,

Uglification, and Derision.”

http://www.bloombergview.com/articles/2015-05-11/nobody-s-worried-about-too-big-to-jail-any-more

http://www.slideshare.net/HansGoetze/stock-takers-2012-q1-bite-on-dji


http://www.slideshare.net/HansGoetze/the-case-for-the-can-opener-edufeb12

http://www.newyorker.com/online/blogs/johncassidy/2014/05/how-hedge-funds-get-away-with-it.html

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Page 3 of 19



15 September 2016

Our work is calculable and provable with no rhetoric asides. We depend on a jargon that is peculiar

to us, having reasons to reject most of what passes for the jargon of “investment analysis“8 and the

confirmed mysticism that is economics. Not because we don’t know the jargon of economists and

financial advisors, but because we do know their jargon. We know it for what it

is, wrong9, useless10 and harmful11. Those self-appointed ‘Emperors’ of markets have no clothes to

hide their jargon for the improvable delusions those conventions are. We help, because we can.

The financial industry is filled with the self-appointed and self-regulated given control of our cache

of savings, in banks, insurance and pensions. That licence they have was granted in part hope and

part legal conviction they will manage our cache with expertise they are supposing to have. There is

no proof of that expertise. Not now or ever have those conventions any merit. On close examination

it is puffery, anointed coin-tossing by tossers, which is not worthy the remit society has reserved it.

Their point of ruling over any store of value is ability to exercise risk management12 due to a stable

demand. ‘Stable demand’ is necessary force. As 80% of the demand in markets is conspired by the

fund managers they provide neither stable demand nor any ability to manage risk, most often

claiming it is volatility that hobbles their sagacity. That is a straw man of their hollow pretensions.

The volatility exists because of their pretensions spun with newspeak over gossip stunning other

members of their fraternity to act and toss your cache on the trading floor. This game they call

‘market making’ as usual planned to arbitrage the situation created on some inside information by

spreading some dis-information. All that spinning is as spiders seizing their prey, our cache, to their

pockets and use13. That activity fits description of racketeering. That may appear cynical, but when

at a given point in time as in 2011 the FBI has open files on two thirds of CFAs14 it is factual not

cynical bias. The FBI focuses on reasonable basis to allocate resources likely to obtain conviction.

There are securities laws intended to ensure such acts are censurable as fraud. Their intent is not

legal practice, but difficult to get evidence around, given the prevalent acceptance of implausible

denials cast by an industry filled by jargon that obscures. Convictions are few limited to the most

outrageous and inexcusable, but negotiated to allow the culprits to continue in the industry.

Implausible denials are allowed to work spinning further newspeak to flood and wash away these

obvious transgressions spun over our cache. Schemes are complex, very artful designs. Expulsion

of the Artful Dodgers is rare and prison time rarer. Fines are just the cost on their grift business.

Our politics and legal system accept this and require us to trust our savings to this industrial

stripping of your store of value managing it for their skim of wealth. They are not managing your

cache for earning returns greater than inflation or GDP growth the ultimate economic point of

discount. Their tools do not extend there. So, smart or not, they have to skirt or scoff law to make

anything beyond coin-tossing as that is all their tools amount to. But no income for your cache.

As we see it their justifications of their tools are founded in biased views of history. Effectively, it

justifies itself on backtests, and not in real markets. Our Risk Price tools are proven in real markets

http://riskwerk.com/2013/05/18/the-real-intelligent-investor/

http://riskwerk.com/2013/09/15/earnings-dont-matter-2/

http://riskwerk.com/2013/08/07/the-god-stock-econo-speak/

http://riskwerk.com/2013/10/07/bn-the-riskwerk-company-glossary/

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15 September 2016

Our proven ‘likeables’ behaviour, pension funds like CPPIB15 ignore, as politicians demand you

must trust to double-down in their proven failure. There is proof Wall Street16 does not understand

our ‘likeables’ behaviour as hedge funds fail to deliver. On gossip hem and haw the markets

bounced and yawed with all their boats. Quantitative Eating treacle-down capitalized US markets,

not yet consumers ‘getting-on-with-their-lives’ demand driving the real economy. Volatility has

been wild as Quantitative Eating feast withdrew and gas and oil-bloat heavily impacted the market

mavens` bromide supply. Selective bias is all they are selling as they gamble with your money.

With our charity public portfolios we show in real time our ‘likeables’ tendency for risk averse

investment. We conceal nothing. All the trading history is retained in the historic portfolio update

reports. Stoploss settings we give allow the small investor to work on their own using our

proprietary ‘likeables’ data to build their wealth. We seek accredited investors, as we help the small

investor, as we provide proof in these portfolios that to convention break rules and seem arbitrary,

It is essential you hold a complement of at least eight but preferably more ‘likeables’ in your

portfolio at any time (preferably in equal blocks of 100 share multiples for 'collaring options'17 as

exit strategy we prefer using, for good reason18). The tendency of ‘likeables’ for gain is not the

same as ‘pin-the-point-on-the-mule’ most seek, or baselessly claim. This is not child’s play. We

prove our method in exceptional gains made in these open public portfolios suiting the small

investor. Let others chase their gamblers’ risk/reward model. We show our risk averse Risk Price

driven ‘likeables’ works for Capital Safety, AlphaSmartTM gains and Liquidity.

The new 2014 portfolios got immediately slammed into market volatility due to the long heralded

end of Quantitative Eating. Stoploss settings held most of your capital safe. Much the same since

March as marketeers waffled about bonds and hobbled around resources. TSX portfolios caught

some lift, but our NYSE have suffered more. Like the cynic said, “No crisis, no sales, no fees.”

The world is still mopping-up the avoidable ‘exogenous’ ‘accidents’ of 2006-2009 the economist

‘Emperors’ of financial markets actually created by their very real plunder of real peoples’ capital

in imprudent ‘financial products’ they created. That is their client savings they put at risk as they

were entrusted for hopeful returns greater than inflation as financial marketeers promised. The

financial institutions just play Three Card Monte on client savers as usual. gambling which is what

their economist models actually do, the same as a coin-toss, for the same results. That is whenever

they are not actually cheating by rigging interest rate markets, doubling loan spreads, vaulting

insurance premiums, and seeking insider trading deals, or suing for entitlement19 to public money.

Put your tax refunds to good use, invested in making AlphaSmartTM, Capital Safe, Liquid, risk

averse, Risk Price driven portfolios you can run for yourself. Our ‘pending’ list is there, helping

you to build your wealth. The deflation from ending Quantitative Eating bloat and the oil glut has

reverted market levels to 2013 and rebounded to 2014 levels. The volatility the portfolio managers

witless delusions crated may carry-on yet again.

http://riskwerk.com/2013/11/10/pi-cppib-2nd-quarter/

http://riskwerk.com/2013/11/15/bn-cpwr-compuware-corporation/

https://www.hedgefundresearch.com/mon_register/index.php?fuse=login&hi

http://riskwerk.com/2014/07/29/pi-the-process-option-pricing/

http://riskwerk.com/2013/08/10/the-sp-tsx-hangdog-market-3/

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Page 5 of 19



15 September 2016

Balance sheets did not flip-flop, but portfolio managers did, unrelated to ‘fundamentals’ of value

investing20. All of the stocks in our public portfolios21 simply rebounded. Most could be bought

back for less than they stopped out. Take the bonus. However we do not recommend chasing after a

much higher price of highly volatile zoomers. Price has no mass - as gossip fluctuates. Price is not a

measure of value, or worth.

Our placid stoploss settings had been based on a 52 week rolling price range less than a standard

deviation has worked reasonably well for risk aversion in markets outside churning of financial

industry managers panic driven selling. We went to quarterly volatility to better save capital in this

meaningless gossip of mavens creating negative volatility.

Tax charity limits for income sheltering were used to set new portfolios. Americans best have tax

specialist involved, depending on their tax code, regular 401(k): $17,500 in 2014, with an

additional $5,500 catch-up contribution, and up to $52,000 in 2014 for SEP and SOLOs, we used

$23,000. Canadians can shelter $24,270.00 of their income in 2014 and have accumulated annual

TFSA limits they can also use in self-directed investing. Extending our proprietary data in charity

suits small investors’ needs our BookBuilderTM invests in your children’s education TaxCharityTM

your retirement and income needs, because we can, so can you.

TaxCharityTM Portfolios Update List – 15 September 2016

NYSE Value 17K Firms 2012 IRA limit Market

Price

Symbol SF (Risk Price)

Stop/Loss

See old posts for Buy-ins 01 December 2012 *100 shares each 15214.00

Buy-ins 15oct15 *100 shares each

Conagra Foods Inc. ($43.5 StopLost 09sep16) 43.50 CAG:US 29 40.6

Buy-ins 15nov15 *100 shares each

Albany Molecular Resrch Inc. ($18.7 StopLost 06jan16) AMRI 15 12.8

NTT DoCoMo Inc. ADS 24.71 DCM:US 15 22.0

Taiwan Semicon. Manufg Co. ($21.8 StopLost 06jan16) TSM:US 18 26.6

Buy-ins 15dec15 *100 shares each

AMN Healthcare Srvcs Inc. ($26.9 StopLost 11jan16) AHS 14 28.8

Ciena Corp. ($18.4 StopLost 04jan16) CIEN:US 17 19.3

Buy-ins 15jan16 *100 shares each

Albany Molecular Resrch Inc. ($15.9 StopLost 28jan16) AMRI 15 12.8

Ciena Corp. ($17.0 StopLost 03mar16) CIEN:US 17 19.3

Dean Foods Company ($18.7 StopLost 22mar16) DF 17 15.7

DR Horton Inc. ($25.6 StopLost 20jan16) DHI:US 24 28.0

E Trade Financial Corp. ($23.9 StopLost 20jan16) ETFC:US 20 26.1

Jabil Circuit Inc. (N* $19.7 StopLost 17mar16) JBL:US 20 20.4

Taiwan Semicndtr Mftg Co. ($23.6 StopLost 26apr16) TSM:US 18 26.6

Buy-ins 15feb16 *100 shares each

Albany Molecular Rsrch Inc. ($14.4 StopLost 23feb16) AMRI 15 12.8

Carrefour SA ADR ($5.4 StopLost 06may16) CRRFY:US 5 4.4

http://www.irs.gov/Retirement-Plans/Amount-of-Roth-IRA-Contributions-That-You-Can-Make-For-2013

http://www.cra-arc.gc.ca/tx/rgstrd/papspapar-fefespfer/lmts-eng.html

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15 September 2016

DR Horton Inc. ($29.0 StopLost 12may16) DHI:US 24 0.0

E Trade Financial Corp. ($22.7 StopLost 05jul16) ETFC:US 20 26.1

Buy-ins 15mar16 *100 shares each

Ciena Corp. ($15.7 StopLost 3may16) CIEN:US 17 19.3

Gannett Company Inc. ($13.6 StopLost 27jun16) GCI:US 12 10.2

Buy-ins 15apr16 *100 shares each

Applied Materials Inc. ($19.5 StopLost 12may16) AMAT 16 26.2

Dean Foods Co. ($15.8 StopLost 12sep16) 15.80 DF:US 17 15.7

Buy-ins 15may16 *100 shares each

Owens-Illinois Incorporated 17.98 OI:US 15 14.7

Boston Scientific Corp 23.62 BSX:US 13 21.3

Joy Global Incorporated 27.55 JOY:US 10 19.0

New York Times Co. CL A (N* $11.86 stoploss 15jun16) NYT:US 12 26.6

Taiwan Semiconductor Manufacturing Co. 29.18 TSM:US 18 26.6

Buy-ins 15jun16 *100 shares each

Ford Motor Co. ($12.2 StopLost 02aug16) 12.20 F:US 12 11.3

Buy-ins 15jul16 *100 shares each

International Game Technology 27.55 IGT 15 19.0

KB Home 15.19 KBH 12 13.5

Buy-ins 15aug16 *100 shares each

The AES Corporation 12.55 AES 10 11.4

Current NYSE 2012 Portfolio Value

15 September 2016 (including dividends) / 01 December 2012 26133.98 / 15214.00 Gain 45.5

months 71.78%

IRR pa 15.34%

Net Cash Carried after 15jul16 Buy-ins *100 shares 11300

Net Cash * after 100 shares stoploss sales 715000

Current Cash 7263.00 Buy-ins 15sep16 *100 shares each

SF

(Risk Price)

Stop/Loss

Applied Materials Inc. 30.15 AMAT:US 16 26.2

Booz Allen Hamilton Incorporated 30.18 BAH:US 20 28.7

Ford Motor Co. 12.11 F:US 12 11.3

Net Cash Forward after Buy-ins *100 shares 19.00

Cash Dividends earned 1037.98

Total Cash Available

1056.98

Current NYSE 2012 Portfolio Value

15 September 2016 (including dividends) / 01 December 2012 26133.98 / 15214.00 Gain 45.5

months 71.78%

IRR pa 15.34%

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Page 7 of 19



15 September 2016

(Pending Need for Change or investing new Savings)

AMN Healthcare Services Incorporated 34.71 AHS 14 28.8

Bemis Co Inc 51.56 BMS 40 48.5

Dreamworks Animation SKG Incorporated 40.96 DWA:US 21 35.2

Inteliquent Incorporated 16.65 IQNT 11 14.8

USA ROTH/IRA 2013 limit 17800.00

See old posts for Buy-ins 15sepl2013 *100 shares each

Buy-ins 15jan2016*100 shares each

Aircastle Limited ($17.8 stopLoss 19jan16) AYR:US 14 18.1

DR Horton Inc. ($29.0 stopLoss 12may16) DHI:US 24 29.5

eBay Inc. ($24.4 stopLoss 28jan16) EBAY:US 23 28.9

Federated Investors Inc. ($24.4 stopLoss 20jan16) FII:US 27 29.4

General Electric Company 29.75 GE 24 27.8

Hologic Inc. ($33.0 stopLoss 28jan16) HOLX:US 20 35.9

Juniper Networks Inc. ($24.5 stopLoss 28jan16) JNPR:US 21 21.1

NIVIDIA Corp. ($25.6 stopLoss 08feb16) NVDA:US 30 52.9

XL Group ($33.9 stopLoss 10feb16) XL:US 30 30.0

Buy-ins 15feb2016*100 shares each

Aircastle Limited ($19.9 $topLoss 04may16) AYR:US 14 18.1

Allianz SE ADS ($15.6 $topLoss 05apr16) AZSEY 14 13.7

CA Inc. ($31.3 $topLoss 27jun16) CA:NASDAQ 28 31.9

eBay Inc. 31.98 EBAY:US 23 28.9

Enterprise Products Partners LP 25.96 EPD:US 17 24.8

Hologic Incorporated ($33.8 $topLoss 28apr16) HOLX:US 20 35.9

Juniper Networks Inc. ($23.8 $topLoss 05apr16) JNPR:US 21 21.1

Masco Corp. ($33.3 $topLoss 09sep16) 33.30 MAS:US 20 33.3

Buy-ins 15apr2016*100 shares each

Juniper Networks Inc 23.01 JNPR 21 21.1

Peoples United Fin. Inc. ($15.4 $topLoss 29apr16) PBCT 14 14.7

Buy-ins 15may2016*100 shares each

Consolidated Comm. Inc. ($23.9 StopLost 01jun16) CNSL 20 22.6

Cabot Oil & Gas Corp 25.04 COG:US 20 22.1

Hologic Incorporated 37.75 HOLX:US 20 35.9

Peoples United Fin. Inc. ($14.6 $topLoss 27jun16) PBCT 14 14.7 Buy-ins 15jun2016*100 shares each

Interpublic Group of Cos. ($22.5 $topLoss 27jun16) IPG 17 21.2

Buy-ins 15jul2016*100 shares each

Boardwalk Pipeline Partners LP 1648% BWP 12 14.8

Federated Investors Inc 32.12 FII:US 27 29.4

Tropicana Entertainment Inc. ($17.8 $topLoss 10aug16) TPCA:US 17 16.8

Buy-ins 15aug2016*100 shares each

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Page 8 of 19



15 September 2016

Pitney Bowes Inc 17.83 PBI 16 17.3

USA ROTH/IRA 2013 Portfolio 15 September

2016 (including dividends) / 15 September 2013 28576.90 / 17800.00 Gain 36.0

months 60.54%

IRR pa 17.09%

Net Cash Forward after Buy-ins *100 shares) 95.00

Net Cash * on $toploss *100 shares 3330.00

Current Cash 3425.00 Buy-ins 15sep2016*100 shares each

SF

(Risk Price)

Stop/Loss

TD Ameritrade Holding Corporation 33.40 AMTD 30 31.1

Net Cash Forward after Buy-ins 15feb16*100 shares) 85.00

Dividends earned 1159.90


1244.90



months 60.54%

IRR pa 17.09%

There are hundreds of interested small savings investors routinely following these charitable posts

of our proprietary Risk Price (SF) information, likely some ‘large’ are freebooting as well. By

giving $toploss values as guidance for small investor capital safety, and liquidity you can be

hopeful of enjoying the proven tendency 2 of 3 of our ‘likeables’ earn high AlphaSmart gain in

the long term. Keep in mind preference to have at least eight or more “likeables” equities in your

portfolio.

Our historic results are based on the entire market we partition with Risk Price (SF) information.

Smaller sample portfolios can deviate be erratic with outliers and under performers. As a group our

TaxCharityTM portfolios prove our method. The past year has been a trough for investors. Props of

QE were withdrawn and the market lost its marbles. Financial advisors need for fees churned their

client money to bonds and back to the markets, in their ‘Great Rotation’22 while the real economy

still slowly absorbs 2008, by doing the hard work-out. Below find our continuing charity with a

portfolio suiting income or IRA 201423 tax sheltered savings. It found those marbles others lost.

We like taking their marbles. Because we can, you can too!


2014 23000.00

See old posts for Buy-ins 15sep2014 *100 shares each


Activision Blizzard Inc. ($32.5 StopLost 03feb16) ATVI:US 32 38.8

http://www.irs.gov/Retirement-Plans/Retirement-Plans-FAQs-regarding-SEPs

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15 September 2016

Ciena Corp. ($15.7 StopLost 3may16) CIEN:US 17 19.3

NTT DoCoMo Inc. ADS 24.71 DCM:US 15 22.0

DR Horton Inc. ($25.6 StopLost 20jan16) DHI:US 24 28.0

E Trade Financial Corp. ($23.9 StopLost 20jan16) ETFC:US 20 26.1

MGM Resorts Intl. ($19.1 StopLost 20jan16) MGM 12 24.0

Pitney Bowes Inc, ($17.7 StopLost 04feb16) PBI:US 16 16.4

Roche Holding Limited ADR ($31.1 StopLost 08feb16) RHHBY:US 30 28.8

Unum Group ($27.6 StopLost 20jan16) UNM:US 22 32.9


Activision Blizzard Inc. 44.59 ATVI:US 32 38.8

DR Horton Inc. ($29.0 $topLoss 12may16) DHI:US 24 28.0

JetBlue Airways Corp. ($18.4 StopLost 12may16) JBLU 20 14.7

E Trade Financial Corp. ($22.7 StopLost 05jul16) ETFC:US 20 26.1

MGM Resorts Int’l. ($22.7 StopLost 27jun16) MGM 12 24.0

Pitney Bowes Inc. ($19.9 StopLost 03may16) PBI:US 16 16.4

Unum Group ($31.0 StopLost 27jun16) UNM:US 22 32.9

Vector Group Inc. ($21.5 StopLost 11apr16) VGR:US 14 21.8


Vector Group Inc. ($20.4 StopLost 22apr16) VGR:US 14 21.8


Aircastle Limited ($18.6 StopLost 06jul16) AYR:US 14 18.1

Pitney Bowes Inc. ($16.7 StopLost 27jun16) PBI:US 16 16.4

SGS SA ADR 22.72 SGSOY 20 21.4

Questar Corp 25.06 STR 22 23.1

Talmer Bancorp Incorporated ($18.1 StopLost 27jun16) TLMR 14 21.0


Convergys Corp 29.34 CVG:US 20 26.7

EMC Corp. ($29.05 buyout DVMT 08sep16) 29.05 EMC:US 26 27.9

Freeport-McMoRan Co. ($9.6 StopLost 15sep16) 9.60 FCX 5 5.8

Interpublic Group of Cos. ($22.5 StopLost 03aug16) IPG:US 17 22.0

Media General Incorporated CL A 17.93 MEG:US 15 16.3

Patterson-UTI Energy Incorporated 20.51 PTEN:US 15 18.5


Talmer Bancorp Inc. ($23.44 Buyout ChemFin 31aug16) 23.34 TLMR 14 21.0



months 9.31%

IRR pa 4.55%

Net Cash Forward after Buy-ins 15jan16 *100 shares) 29.00

Net Cash * after stoploss sale *100 shares 6199.00

Current Cash 6228.00 Buy-ins 15aug2016 *100 shares each

SF

(Risk Price)

Stop/Loss

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Page 10 of 19



15 September 2016

Green Plains Incorporated 24.86 GPRE 15 20.6

Polycom Incorporated 12.47 PLCM:US 11 11.6

Symantec Corp. 24.92 SYMC:US 20 22.4

Net Cash Forward after Buy-ins 15sep16 *100 shares) 3.00



429.60



months 9.31%

IRR pa 4.55%

Since 90% of society’s cache is in the hands of fund managers they are trolling for their own

income, not yours. Their trading on gossip had pushed the US markets down over the past two

years. This portfolio has rebounded as market mavens understand the real economy is steady but

slowly regaining having absorbed the colossal goofs those mavens’ expectations had wrought. The

‘Brexit’ surprise upped volatility triggering many stoploss sales. Your portfolio is no longer small

beer it has held value through these three months after the ‘Great Rotation’ swelled and dropped

the market. World GDP is still growing faster than population so the market mavens panic is just

in their newspeak. Finally you can see the real gains from staying in the market with our

‘likeables’ building your long term wealth. Your ‘likeables’ portfolio has weathered the tempest.

Evidence is markets do not price-in even the well-advertised such as demise of QE market support.

In such a ‘sea-change’ from all the Artful Dodgers’ bubble-gum snapping near all stoplosses were

routinely triggered. Time to recover, and rebuild for gain is with us. The gum snappers will find

something else to spur sales on rekindled high volatility, in their search for their income, not yours.

The public is always liable for the ‘Public Liability Corporation’ managers’ failure for lack of

business diligence, prudence or ethics. That ‘Agency Problem’ story is not over.

It has been a rough year of gossip driven volatility overturning modest gains in the real economy.

Putin middle east politics raising world oil price needed for his exports through Panama. Panama

Papers will enliven many politician and penurious households chatter. We will see more of oil

energy as lever in plunder politics, as Turkey and Russia face-off for their old proxy politic games

in the region24 waiting for a new bungle of the Lightweights Brigade. He plays tank diplomacy.

Engage our “likeables” and save your own bacon. Because we can, you can

Equities that tend to hold their value and gain are better than cash. We like Capital Safety and

Liquidity because we have proven our risk aversion works, consistently obtaining both low risk and

AlphaSmartTM high gain. Our Risk Price is what investors must know to defend their capital.

“

Page 11 of 19



15 September 2016

We extend a small part of our proprietary information as charity suiting small investors’ needs for

their small portfolios they can manage on their own. Avoid the Artful Dodgers and the Dick

Turpins of the financial industry. Do not give them your cache to gamble away in their fruitless

coin-tossing games. Our BookBuilderTM supports your investing in your children’s education,

TaxCharityTM suits your retirement or income needs. Because we can, you can.

TaxCharityTM TSX Portfolios Update List -15 August 2016

TSX Value 22K Firms 2012 RRSP Tax

Shelter Limit Used - $20,235.00

Market

Price

Symbol SF (Risk Price)

Stop/Loss

See old posts for Buy-ins 01 December 2012 *100 shares each 20,235.00


Allied Properties Real Estate Investment Trust 37.17 AP.UN 31 34.9

Chorus Aviation Inc. (24may16 consolildation to "CHR") CHR 5 0.0

Element Financial Corp. ($14.4 stopLost 20jan16) EFN 12 13.2

Gildan Activewear Inc. ($35.5 stopLost 28jan16) GIL 36 34.5

Keyera Corp. ($34.9 stopLost 18jan16) KEY 39 38.6

Stantec Inc. ($30.5 stopLost 11feb16) STN 25 28.4


Progressive Waste Solutions Ltd. (01jun16 481:1000

merger “WCN.TO”- 15jun 93.75=45.09)

*WCN.TO

62 0.0

Canadian Ap’t Prop. REIT ($30.6 stopLost 11aug16) CAR.UN 26 27.5

Detour Gold Corp. ($25.2 stopLost 27may16) DGC.TO 10 0.0

Element Financial Corporation 14.99 EFN 12 13.2

Gildan Activewear Inc. ($31.4 $topLost 24feb16) GIL 36 34.5

Sun Life Financial Inc. ($41.1 stopLost 27jun16) SLF 35 39.4

Smart REIT (CWT-UN Takenprivate 16aug16) 34.99 SRU.UN 25 34.2


Aecon Group Inc. 17.89 ARE 14 15.9

CAE Inc. ($15.7 stopLost 27jun16) CAE 13 16.9

Buy-ins 15jun2016 *100 shares

Boralex Incorporated 18.37 BLX.TO 12 16.5

Choice Properties REIT 13.53 CHP.UN 10 12.7

Canadian Utilities Ltd. ($36.7 stopLost 12sep16) 36.70 CU.TO 33 34.0


Cott Corporation ($19.4 stopLost 12sep16) 19.40 BCB 8 17.2

Shaw Communications Inc. 26.09 SJR.B 23 24.8

Transcontinental Inc. 18.08 TCL.A 12 16.3


Stantec Inc. 30.25 STN 25 28.4

TSX 2012 Portfolio Value 15 September 2016

(including dividends) / 01 December 2012 28315.25 / 20235.00 Gain 45.5

months 39.93%

“

Page 12 of 19



15 September 2016

IRR pa 9.27%

Net Cash Carried after *100 shares Buy-ins 15oct15 153.00

Net Cash * after 100 shares stoploss sold 9109.00

Current Cash 9262.00 Buy-ins 15sep2016 *100 shares each

SF

(Risk Price)

Stop/Loss

Canadian Utilities Ltd. 36.61 CU 33 34.0

Northland Power Inc. 23.55 NPI 15 21.2

Parkland Fuel Corporation 30.10 PKI 20 28.0

Net Cash Carried after *100 shares Buy-ins 236.00



1543.75

Or, if, for that ‘idle’ cash in your cache, you

had added a 100 block of VSN.to your cache,

15 June, and done very well, for 20.38% gain.

12.82 VSN 8 10.0

10.65 15jun16

TSX 2012 Portfolio Value 15 September 2016

(including dividends) / 01 December 2012 28315.25 / 20235.00 Gain 45.5

months 39.93%

IRR pa 9.27%

This 2012 portfolio has suffered the negative TSX commodities heavy market for half its interval.

It is also now 32.45% more than the TSX for that interval, with stratospheric rate of return

compared to the rate of bonds, ETFs and like conventional financial industry instruments. Even

using tame stoploss measures, we call that proof, our ‘likeables’ are strategic investment means.

(Pending Need for Change or investing new Savings)


Crombie Real Estate Investment Trust 14.82 CRR.UN 13 14.1

Emera Incorporated 46.91 EMA 40 44.6

Jean Coutu Group (PJC) Inc. (The) 19.29 PJC.A 19 17.0

Sun Life Financial Inc. 41.51 SLF 40 39.4

Thomson Reuters Corporation 53.74 TRI 50 51.1

Canadian 2013 RRSP limit 23820.00 See old posts for Buy-ins 15sep2013 *100 shares each

SF

(Risk Price)

Stop/Loss


Prog’sive Waste Sol’ns Ltd. (merger “WCN.TO” 15jun16) *WCN.TO 62 0.0

Industrl All. Ins. Fin. Srvs. Inc. ($43.7 stopLost 21dec15) IAG 39 44.7

“

Page 13 of 19



15 September 2016

Northland Power Inc. 23.55 NPI 15 21.2

SmartREIT ($29.8 stopLost 21dec15) SRU.UN 25 34.2

Buy-ins 15jan2016*100 shares each

CI Financial Corp. ($27.4 stopLost 20jan16) CIX 30 22.5

Industrial All Ins. Fin. Srvs. Inc. ($39.0 stopLost 18jan16) IAG 39 44.7

RioCan REIT 26.74 REI.UN 24 25.4

Smart REIT (CWT-UN Takenprivate 16aug16) 34.99 SRU.UN 25 34.2

Stantec Inc. ($30.5 stopLost 11feb16) STN 25 28.4

TransForce Inc. ($20.3 stopLost 20jan16) TFI 21 23.9

Buy-ins 15feb2016*100 shares each

Canadian Ap’t Prop. REIT ($30.6 stopLost 11aug16) CAR.UN 26 27.5

Indstrl Allnc Ins Fin Srv Inc. (N* $35.6 stopLost 24feb16) IAG 39 44.7

Intertape Polymer Group Incorporated 22.72 ITP 15 20.4

Maple Leaf Foods Inc. 28.92 MFI 19 26.3

Power Corp. of Canada ($27.0 stopLost 27jun16) POW 28 26.0

Transcontinental Inc. ($18.6 stopLost 03may16) TCL.A 12 16.3

Buy-ins 15apr2016*100 shares each

Heroux-Devtek Inc. ($13.8 stopLost 15aug16) HRX 9 12.2

WestJet Airlines Ltd. 23.67 WJA 16 19.9

Buy-ins 15may2016*100 shares each

Transcontinental Inc. ($16.4 stopLost 14jun16) TCL.A 12 16.3

Buy-ins 15jun2016*100 shares

Inter Pipeline Fund 27.43 IPL.TO 24 25.0

TransForce Inc. 26.27 TFI 21 23.9

Veresen Inc. 12.82 VSN 8 10.0

Buy-ins 15jun2016*100 shares each

Dundee Corporation ($6.0 stopLost 16aug16) 6.00 DC-A 5 4.2

Westshore Terminals Investment Corporation 21.16 WTE 12 16.3

Buy-ins 15jun2016*100 shares each

Librador Iron Ore Royalty Corporation 13.27 LIF.TO 10 11.1

Torex Gold Resources Incorporated 30.22 TXG.TO 25 25.1

2013 TSX Portfolio Value 15 September 2016

(including dividends) / 15 September 2013 31013.20 / 23820.00 Gain 36.0

months 30.20%

IRR pa 9.20%

Net Cash Carried after *100 shares Buy-ins 15jan2016 6.00

Net Cash on $topLoss sales *100 shares 4099.00

Current Cash 4105.00 Buy-ins 15aug2016*100 shares each

SF

(Risk Price)

Stop/Loss

CAE Inc. 18.22 CAE 13 16.9

H&R Real Estate Investment Trust 22.26 HR.UN 21 20.9

“

Page 14 of 19



15 September 2016

Net Cash Carried after *100 shares Buy-ins 57.00



1288.62

2013 TSX Portfolio Value 15 September 2016

(including dividends) / 15 September 2013 31013.20 / 23820.00 Gain 36.0

months 30.20%

IRR pa 9.20%

The TSX still is down -6.32% in the last 24 months, 2/3rds the interval of this portfolio. This small

beer IRR percentage gain speaks loudly for unusual results of the very welcome kind. Quintuple

the rate of inflation and of bond rates offered. Differentially, the ‘likeables’ had opened a 38.31%

point gap on the TSX performance, and moved to enlarge it to 38.40 point gap, 41.44% better.

That is some small beer, by the maths, that has filled your glass! Staying in the market with proven

method pays better instead of coin-tossers in the financial industry. Do not give them your cache.

Buy ‘likeables’ to build your wealth by your self-directed investment, for your long term.

There are hundreds of interested small savings investors routinely following our charitable posting

of our proprietary Risk Price (SF) data giving $toploss values, for the small investor. Likely,

‘large’ are freebooting as well. Our charity of our proprietary data provides guidance for small

investor capital safety, and liquidity hopeful of enjoying proven tendency 2 of 3 of our ‘likeables’

high AlphaSmart gain in the long term. Keep in mind preference to have at least eight or more

“likeables” equities in your portfolio. Below find our continuing charity with a new portfolio

suiting income or RRSP 201425 tax sheltered savings. Because we can, you can too.

2014 TSX “Likeables” Portfolio Value

15 September 2014 24270.00 / 24270.00 SF

(Risk Price)

Stop/Loss

See old posts for Buy-ins 15sep2014 *100 shares each

Buy-ins 15nov15 *100 shares each

Celestica Inc. ($14.1 stopLoss 15jan16) CLS 10 12.4

Manitoba Telecom Services Inc. 37.73 MBT 27 34.0

The North West Co. Inc. ($27.7 stopLoss 14jan16) NWC 22 24.6

Ritchie Bros Auctinrs Inc. ($34.3 stopLost 08dec15) RBA 24 41.3

RioCan REIT ($24.1 stopLost 14dec15) REI.UN 24 25.4

TransForce Inc. ($23.0 stopLost 08dec15) TFI 21 23.9


Canadian Apt Properties REIT ($30.6 stopLost 11aug16) CAR.UN 26 27.5

Manulife Financial Corp. ($20.1 stopLoss 04jan16) MFC 18 16.5

Ritchie Bros Auctnrs Inc. ($31.5 stopLost 06jan16) RBA 24 41.3


Acadian Timber Corp. ($16.3 stopLost 21jan16) ADN 15 16.9

http://www.cra-arc.gc.ca/limits/

“

Page 15 of 19



15 September 2016

CI Financial Corp. ($27.4 stopLost 20jan16) CIX 30 22.5

Celestica Inc. ($13.1 stopLost 18jan16) CLS 10 12.4

Manulife Financial Corp. ($17.5 stopLost 20jan16) MFC 18 16.5

Northland Power Inc. ($16.9 stopLost 18jan16) NPI 15 21.2


Celestica Inc. ($13.0 stopLoss 06may14) CLS 10 12.4

Intertape Polymer Group Incorporated 22.72 ITP 15 20.4

Manitoba Telecom Services Inc. 37.73 MBT 27 34.0

Maple Leaf Foods Inc. 28.92 MFI 19 26.3

The North West Co. Inc. ($30.3 stopLost 16feb16) NWC 22 24.6

Parkland Fuel Corporation 30.10 PKI 20 28.0

Transcontinental Inc. ($18.6 stopLost 03may16) TCL.A 12 16.3


Hudsons Bay Company ($16.26 N* run-up 15jul16) HBC 24 14.3

Pan American Silver Corp. 22.90 PAA 10 19.2


Celestica Inc. ($12.3 stopLoss 27jun16) CLS 10 12.4

Transcontinental Inc. ($16.4 stopLost 14jun16) TCL.A 12 16.3

Buy-ins 15jun2016 *100 shares each



Algonquin Power & Utilities Corp. 11.75 AQN 9 10.9

Crombie Real Estate Investment Trust 14.82 CRR.UN 13 14.1


The North West Co. Inc. ($28.0 stopLoss 06sep16) 28.00 NWC 22 24.6


15 September 2016 (including dividends) / 15 September

2014

26155.40 / 24270.00 Gain 24.0

months 7.77%

IRR pa 3.81%

Though little comfort to some we can reconcile this result with comparing that it is 14.09% above

the TSX which is still down -6.32% over these 24 months of bull snorts from managers with no

sense of where they are. The fund managers gossip and coin-tossing put stock prices into the sky-

fall of ‘Great Rotation’ for their fees income. They do not know better. Price is not worth. Theirs is

no expertise, there is graft. We do not chase the zoomers but abide the long term tendency shown

by our ‘likeables’ and stay risk averse, buy-back better. They do not know Risk Price. We do.

Commodities and minerals are a heavy constituent of the TSX and naysayers nay demand is

slacking even as the US remains strong. Ooops that is their comic chorus. The sector has been very

strong over this year. Good firms with strong balance sheets deal with their business situation.

Canute could not stop the tides but let tides of gossip swirl around him, as the ‘likeables’ do, too.

“

Page 16 of 19



15 September 2016

We can be confident in knowing this ‘likeables’ portfolio has resisted such declining market due to

negative volatility. By adhering to tightened stoploss ‘likeables’ reset to advantage for regaining as

market players embrace the real economy is growing twice as quickly as demographic. While the

chickens flapped their wings you are poised for new flight as the dust-devils settle from the

snorting bears with more ambitions than sense. You are way ahead of their ranting and raving.

The peoples’ determined positive mood shift from sky-fall mode bodes well of market movement

to real economies contented mooing. There is still work to be done shifting the mavens’ ‘Great

Rotation’ out of the real economy’s way. The real economy is busy people adding value, building

credit into capital. That is what capitalism does, and is, building on the credit of, and created by

trading connections, adding value, that firms make cash flow. The rest is politicking to negotiate

getting close to the cash flow, for streaming into pockets serving niche interests.

Net Cash Carried after *100 shares Buy-ins 15oct2015 181.00

Net Cash on $topLoss sales *100 shares 2800.00

Net Cash Carried for *100 shares Buy-ins 2981.00

Buy-ins 15sep2016 *100 shares each SF

(Risk Price)

Stop/Loss

The North West Co. Inc. 26.46 NWC 22 24.6

Net Cash Carried after 15may2016 *100 shares Buy-ins 335.00



1082.80


15 September 2016 (incl. dividends) / 15 September 2014 26155.40 / 24270.00 Gain 24.0

months 7.77%

IRR pa 3.81%

Removal of Quantitative Eating combined with oil and gas bloat made unusual down-side

volatility in all markets in the past two years. The TSX is still down -5.43% from its September

2014, level. This portfolio is 3x better than hedge funds, far ahead of all conventional investment

though long troubled by the backwash from fund managers not knowing what to do. Our tighter

$toploss values reduced risk of loss, staying risk averse. Fund managers are unreconciled that

1.2% is positive growth in the real economy, as they look for new ‘crisis’ to churn for their fees.

Most stopped-out bounced higher in the reviving volatile market. Do not chase them, but seek new

‘likeables’ opportunities. Buy back at a better price. Stoploss is a simpler approach than skimming

for advantageous collaring options to protect your capital. Collaring of options we favour because

we know that can be very useful in adding gains for a more profitable exit but it requires a lot more

“

Page 17 of 19



15 September 2016

attention than small investors can lavish. You can save more by working at what you do best. We

loosened $toploss values TSX recovered from under-priced commodities. We rebuild for gain as

calmer markets return. All the ‘canards’ must walk the political stage as the real economy slowly

inches its recovery forward, while absorbing other people’s abuse of ‘credit float’ in the sea of

moral hazard backwash they created in the entire Finance, Insurance and Real Estate sector. Shame

is theirs as that ‘churn’ is what they know to skim, but nothing about value or worth of a firm.

Engage in “likeables” save your own bacon. Because we can, you can

Equities that tend to hold their value and gain are better than cash. We like Risk Aversion, Capital

Safety and Liquidity by investing in “likeables” because we have proven that works, consistently

obtaining both low risk and high AlphaSmart gain. Market behaviour prefers the “likeables” trading

above Risk Price and bids up their price. We have proven that behaviour exists as a tendency of

investors in all markets.

The conventional investment industry cannot prove any of their assumptions underlying their

supposed methods they sell you as if theirs is “expertise”. It is just their mysticism26 as circular

logic is a spinning topic. Any tautology is just repetition until it appears to be logical. As we have

shown all they trade in is luck, 1.03 to 1 is just a coin-toss27. They really are just rolling dice and

tossing cards with your nickels. Your pocket is not their restraint, rather, they see their opportunity

for their gaming. Do not give them your pocket-book on empty promises they have never delivered.

What is the alternative to those Artful Dodgers so busy just blowing bubbles28 with cash from your

wallet29? We are that alternative, as we show, even for the small investor. Our Risk PriceTM driven

‘likeables’ investment method is proven by consistent long term portfolios gains shown by these

charity portfolios suiting small investors using stop-loss settings and by others like long running

ABCs-to-Zs and BST-BlackSwanTradingTM.

BookBuilder™ and TaxCharityTM portfolios comprise our lowest price point "likeables" we can

identify based on RiskPriceTM. It is our proprietary information driven by Risk PriceTM given

freely in charity enabling small investors to keep their savings growing into their own wealth. Our

method is proven. Because we can, you can30.

In our Modal Geometry31 theory of the firm we make only two assumptions, clearly as follows:

1. there is a balance sheet of the firm (that the rule of law governs its information is possibly

weak assumption but at an accuracy to at least the modest degree accountants are prepared

to be responsible for); and,

2. the firm will vigorously negotiate, “what it owns” (in order to stay in business “what is

owed to it” with “what it owes” and vice versa, to make the best of what it has, that is in its

trading connections).

http://riskwerk.com/2014/03/07/pi-sanctification/

http://www.slideshare.net/HansGoetze/running-markets-without-walras-and-schumpeter


“

Page 18 of 19



15 September 2016

The Modal Geometry theory of the firm has unfolded by rigourous observation of corporate ledgers

relation to balance sheets as business process32 adds value. That is aided with logic, epistemology,

and some powerful mathematics. You have proof in these TaxCharityTM portfolios performances.

Our reasons for having any equity in our portfolios are clear, concise and consistent. ‘Likeables’

tendency demonstrates 2 of 3 ‘likeables’ gaining for the long term. This we show proof positive, in

our TaxCharityTM and BookBuilderTM portfolios continued gain. We extend our proprietary

information to small investors. Because we can, you can.

Know What You Have. 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. [email protected] and StockTakers Limited Head Office 76 Midridge Close SE Calgary, AB T2X 1G1

351 Chemin Boulanger Sutton, PQ J0E 2K0 450-538-1270 647-608-2176

1 http://www.slideshare.net/HansGoetze/the-grail-and-the-goat-portfolios 2 http://riskwerk.com/2012/08/26/the-price-of-risk/ 3 http://www.bloombergview.com/articles/2015-05-11/nobody-s-worried-about-too-big-to-jail-any-more 4 http://www.reuters.com/article/us-deutsche-bank-mortgages-idUSKCN11L2VQ just negotiating? 5 http://www.slideshare.net/HansGoetze/stock-takers-2012-q1-bite-on-dji 6 http://www.slideshare.net/HansGoetze/the-case-for-the-can-opener-edufeb12 7 http://www.newyorker.com/online/blogs/johncassidy/2014/05/how-hedge-funds-get-away-with-it.html 8 http://riskwerk.com/2013/05/18/the-real-intelligent-investor/ 9 http://riskwerk.com/2013/09/15/earnings-dont-matter-2/ 10 http://riskwerk.com/2013/08/07/the-god-stock-econo-speak/ 11 http://riskwerk.com/2013/10/07/bn-the-riskwerk-company-glossary/ 12 https://en.wikipedia.org/wiki/Risk_management 13 Leading proponent of Modern Portfolio Theory, Peter L. Bernstein disaffected realized it was exposing investors to risk while productive way for making the professionals a living http://www.e-m-h.org/Bernstein1999.pdf 14 http://www.slideshare.net/HansGoetze/judge-by-company-they-keep 15 http://www.slideshare.net/HansGoetze/sisyphus-is-not-myth-2 16 http://riskwerk.com/2013/11/15/bn-cpwr-compuware-corporation/ 17 http://riskwerk.com/2014/07/29/pi-the-process-option-pricing/ 18 http://riskwerk.com/2013/08/10/the-sp-tsx-hangdog-market-3/ 19 http://act.demandprogress.org/sign/bank-constitutional-right-subsudy/?source=rootstrikers&t=1&akid=4185.3068076.p0K2Wn 20 https://en.wikipedia.org/wiki/The_Intelligent_Investor 21 http://riskwerk.com/2013/05/18/the-real-intelligent-investor/

http://riskwerk.com/2014/03/15/pi-the-process/


http://riskwerk.com/2012/08/26/the-price-of-risk/

http://www.bloombergview.com/articles/2015-05-11/nobody-s-worried-about-too-big-to-jail-any-more

http://www.reuters.com/article/us-deutsche-bank-mortgages-idUSKCN11L2VQ


http://www.slideshare.net/HansGoetze/the-case-for-the-can-opener-edufeb12

http://www.newyorker.com/online/blogs/johncassidy/2014/05/how-hedge-funds-get-away-with-it.html


http://riskwerk.com/2013/09/15/earnings-dont-matter-2/

http://riskwerk.com/2013/08/07/the-god-stock-econo-speak/

http://riskwerk.com/2013/10/07/bn-the-riskwerk-company-glossary/

https://en.wikipedia.org/wiki/Risk_management

http://www.e-m-h.org/Bernstein1999.pdf

http://www.slideshare.net/HansGoetze/judge-by-company-they-keep

http://www.slideshare.net/HansGoetze/sisyphus-is-not-myth-2

http://riskwerk.com/2013/11/15/bn-cpwr-compuware-corporation/

http://riskwerk.com/2014/07/29/pi-the-process-option-pricing/

http://riskwerk.com/2013/08/10/the-sp-tsx-hangdog-market-3/

http://act.demandprogress.org/sign/bank-constitutional-right-subsudy/?source=rootstrikers&t=1&akid=4185.3068076.p0K2Wn

https://en.wikipedia.org/wiki/The_Intelligent_Investor


“

Page 19 of 19



15 September 2016

22 https://riskwerk.com/2016/01/07/bn-the-great-rotation-twenty-hot-canadians/ 23 http://www.irs.gov/Retirement-Plans/Retirement-Plans-FAQs-regarding-SEPs 24 http://www.goodreads.com/book/show/2120659.A_Brief_History_of_the_Crimean_War 25 http://www.cra-arc.gc.ca/limits/ 26 http://riskwerk.com/2014/03/07/pi-sanctification/ 27 http://www.slideshare.net/HansGoetze/running-markets-without-walras-and-schumpeter 28 http://riskwerk.com/2013/10/14/asset-bubbles-day-october-14-2013/ 29 Banks had $230 billion in litigation costs since 2009 and another $70 billion through 2016 for trading irregularity http://www.reuters.com/article/2015/01/13/us-banking-litigation-research-idUSKBN0KM10G20150113 30 http://www.slideshare.net/HansGoetze/the-grail-and-the-goat-portfolios 31 “The Modal Geometry of the Firm and the Balance Sheet Worth of the Trading Connections”, Ernst Goetze, 2006, unpublished

but available from the author. 32 http://riskwerk.com/2014/03/15/pi-the-process/

https://riskwerk.com/2016/01/07/bn-the-great-rotation-twenty-hot-canadians/

http://www.irs.gov/Retirement-Plans/Retirement-Plans-FAQs-regarding-SEPs

http://www.goodreads.com/book/show/2120659.A_Brief_History_of_the_Crimean_War

http://www.cra-arc.gc.ca/limits/

http://riskwerk.com/2014/03/07/pi-sanctification/

http://www.slideshare.net/HansGoetze/running-markets-without-walras-and-schumpeter

http://riskwerk.com/2013/10/14/asset-bubbles-day-october-14-2013/

http://www.reuters.com/article/2015/01/13/us-banking-litigation-research-idUSKBN0KM10G20150113


http://riskwerk.com/2014/03/15/pi-the-process/

Economy & Finance

TaxCharityTM 15sep2016