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Robert Tattersall

ContributorToronto, Canada

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Robert Tattersall, CFA, is a contributing writer for The Globe and Mail. He is co-founder of the Saxon family of mutual funds and the retired chief investment officer of Mackenzie Investments.

Latest articles

March 16, 2017

Though its income statement showed huge losses in 2016, McCoy Global is still a bargain below net-net working capital.

Though its income statement showed huge losses in 2016, McCoy Global is still a bargain below net-net working capital.

An oil-patch microcap in deep-value territory

January 4, 2017

There are some things you can look for in the company’s annual report to decide whether the payroll numbers and direction are in the ball park.

There are some things you can look for in the company’s annual report to decide whether the payroll numbers and direction are in the ball park.

Are the CEOs of your stock holdings worth their paycheques? Here are ways to tell

December 15, 2016

If you are a value investor, a logical place to start your search is by looking for companies that pass the iconic Ben Graham net-net working capital screen.

If you are a value investor, a logical place to start your search is by looking for companies that pass the iconic Ben Graham net-net working capital screen.

A rather stunning discovery in our end-of-year search for ‘net-net’ stocks

November 28, 2016

Looking at a key metric of net-net working capital can help find beaten-down stocks that can recover well.

Looking at a key metric of net-net working capital can help find beaten-down stocks that can recover well.

Redline Communications: A potential gem in the debris of energy services stocks

November 2, 2016

In a coin-tossing experiment that was rigged to give a 60/40 probability of winning, 60 per cent of financially sophisticated players managed to lose money.

In a coin-tossing experiment that was rigged to give a 60/40 probability of winning, 60 per cent of financially sophisticated players managed to lose money.

The importance of sticking to a plan when making investment decisions

October 16, 2016

American flags fly outside the New York Stock Exchange on Oct. 14, 2016.

American flags fly outside the New York Stock Exchange on Oct. 14, 2016.

Valuing the S&P 500 as a business: priced for perfection

August 14, 2016

Looking to beat the market? This is the one sector to focus on

Robert Tattersall

March 21, 2016

A modest erosion in the Big Five banks' average return on equity understates the problem they face.

A modest erosion in the Big Five banks' average return on equity understates the problem they face.

Canadian bank stocks starting to face headwinds

December 28, 2015

For the mathematically inclined, the valuation equation is: price equals dividend divided by (k minus g), where k is the investor’s expected return and g is the forecast growth rate of the dividends.

For the mathematically inclined, the valuation equation is: price equals dividend divided by (k minus g), where k is the investor’s expected return and g is the forecast growth rate of the dividends.

What the stock market is telling us about future returns

Robert Tattersall

December 10, 2015

Net-net qualifier list may not be a lose-lose investment.

Net-net qualifier list may not be a lose-lose investment.

Consider net-net stocks (if your reputation can withstand abuse)

November 30, 2015

International Road Dynamics’ early product range had a focus on weigh in motion, meaning trucks no longer had to come to a complete stop to be measured for compliance with weight restrictions or toll assessment at inspection stations.

International Road Dynamics’ early product range had a focus on weigh in motion, meaning trucks no longer had to come to a complete stop to be measured for compliance with weight restrictions or toll assessment at inspection stations.

Why I like this microcap play on automated highway systems

November 24, 2015

A convertible bond provides the holder with the option to receive payment at or before maturity in the form of shares in the underlying company at a fixed conversion rate or price.

A convertible bond provides the holder with the option to receive payment at or before maturity in the form of shares in the underlying company at a fixed conversion rate or price.

These securities offer sky-high yields – and a big dose of risk

May 4, 2015

Wells Fargo reported a healthy gain both in book value and earnings per share, resulting in a marginal return on equity of 21 per cent.

Wells Fargo reported a healthy gain both in book value and earnings per share, resulting in a marginal return on equity of 21 per cent.

How to identify 'moat' stocks

Robert Tattersall

January 1, 2015

A “portfolio” made up of equal weights in all the stocks which passed the screen each year outperformed the TSX composite index by almost four percentage points annually for the three years ended December, 2013, despite a shortfall in 2013. The 2014 portfolio, however, suffered a dramatic setback with the nine stocks listed at the beginning of 2014 falling on average 9 per cent by Dec. 23 compared with a gain of 7 per cent for the TSX composite.

A “portfolio” made up of equal weights in all the stocks which passed the screen each year outperformed the TSX composite index by almost four percentage points annually for the three years ended December, 2013, despite a shortfall in 2013. The 2014 portfolio, however, suffered a dramatic setback with the nine stocks listed at the beginning of 2014 falling on average 9 per cent by Dec. 23 compared with a gain of 7 per cent for the TSX composite.

Canadian ‘net-net’ stocks stumbled in 2014, but don’t abandon the screen yet

Robert Tattersall

November 5, 2014

One way for small investors to outperform institutions

Robert Tattersall

February 27, 2014

Three high-yielding Canadian bonds (not for the faint of heart)

Robert Tattersall

January 21, 2014

Small caps lagging? Only in Canada

Robert Tattersall

January 5, 2014

Indigo Books is one of the more prominent names on the Canadian net-net stock list heading into 2014.

Indigo Books is one of the more prominent names on the Canadian net-net stock list heading into 2014.

Nine 'net-net' stocks to buy

December 9, 2013

Liquidation World shows why a cheap stock can be a bad buy

December 5, 2013

China Health Labs highlights minority investors’ dilemma

Robert Tattersall