This page shows the current state of InnovationOwl's automated TSX Growth Stock Selection System. The current state of the system is illustrated below by the graph, current system holdings and performance tables (where $ = Canadian Dollar.) These are scheduled to be updated daily (barring any unforeseen technical difficulties). The following links provide other relevant information:
|HOME CAPITAL GROUP INC||HCG.to|
|TRICAN WELL SERVICE LTD||TCW.to|
|KETCH RESOURCES LTD||KER.to|
|EQUITABLE GROUP INC.||ETC.to|
|INDUSTRIAL-ALLIANCE LIFE INSURA||IAG.to|
|ACCORD FINANCIAL CORP||ACD.to|
|ZARGON OIL & GAS LTD||ZAR_u.to|
|SHOPPERS DRUG MART CORP||SC.to|
|NATIONAL BANK OF CANADA||NA.to|
|KINGSWAY FINANCIAL SERVICES INC||KFS.to|
|CANADIAN WESTERN BANK||CWB.to|
|Value||Since last evaluated
(on Dec 3, 2004 @ 14:07PST )
(Since Nov 8, 2004)
(SinceSep 6, 2004)
(Since Jun 8, 2004)
(Since Dec 8, 2003)
(Jan 16, 2003)
|TSE Selection Equally Weighted Index||157.17||-0.21%||5.08%||9.3%||12.65%||19.81%||57.17%|
|TSE Small Cap||609.84||0.42%||4.18%||10.14%||3.37%||6.19%||36.16%|
The Owl's TSX selections are the subset of stocks in the Toronto Stock Exchange (TSX) that meet our defined criteria. It is our opinion that some of the stocks from this list are and will continue to be extremely successful Canadian growth companies. The index is maintained using a computer algorithm that is focused on quantitative number crunching but can easily overlook the most basic qualitative red flags. For this reason it is important that one practices due diligence when selecting investments from this set of stocks.
In order to track the performance of the Owl's TSX Selections and benchmark them to the major indexes, the Owl's TSX Selection Index© (OTSI) was initiated on Jan. 16, 2003 at CAD 100 (Canadian Dollars) and is an index of stocks that meet our selection criteria. The index is maintained such that rebalancing is targeted to occur at the close of each trading day. The number of stocks can vary from one day to the next and rebalancing results in an equal dollar position in each stock in the index set.
The Owl's TSX Selection Index© is not a historical simulation but rather a representation of what would be achieved if one were to hold all the stocks selected by the system. As this is really our own TSX Growth Index, the goal of the selection criteria is to outperform S&P/TSX Composite Index in terms of risk and return. Currently dividends, transaction costs, and taxes are not accounted for in the tracking of the index and share positions may be fractional.
The purpose of the selection criteria is to limit the universe of TSX stocks to a small handful of selections. The stocks that make up the Owl's TSX at any given point in time meet our set of proprietary criteria at that point in time. The criteria are based on a variety of parameters including quarterly and yearly financial statement fundamentals, earnings growth, relative price performance, market capitalization, and liquidity to name a few.
The selection criteria are implemented using parameterized software that can be tuned to implement a variety of different selection indices. In addition to implementing the Owl's TSX Selection System, we have also implemented a US Small-Cap Growth System and are working to develop other new systems.