7/10/2014 Value Investing Letter - Guy Gottfried: Discovering Canadas Small Cap Gems

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Guy Gottfried: Discovering Canadas Small Cap Gems
By Len Palis, Staff Writer
Guy Gottfried will be speaking at the upcoming Value Investing Congress taking place
May 6th & 7th in Las Vegas. To learn more and for a special discount to attend,
please visit www.ValueInvestingCongress.com/VIL.
When it comes to Canadian small caps, a lot of gems are outside the mines.
Acclaimed stock picker Guy Gottfried made that point in October 2011 at the New
York Value Investing Congress. In his presentation, Gottfried asserted that investors
in the Canadian market are obsessed with resource stocks. That means attractive
equities outside the resource realm are often ignored.
Gottfried has followed his own advice with exceptional results.
In 2011, Guy Gottfried threw The Brick at investors, and they thanked him when the
retailers shares climbed 118% over the next year.
The Brick illustrates how Gottfried examines stocks. The furniture and appliance chain
is a Canadian institution. However, it nearly went bankrupt before being recapitalized
in 2009 by outside investors.
Yet even as its turnaround was clearly succeeding, Gottfried felt The Brick was
stigmatized by investors. Gottfried was impressed by the companys new
management, capital allocation and balance sheet, not to mention its bargain
valuation. From those criteria and more, Gottfried concluded The Brick was a high-
quality and extremely well-run business that trades at an undeservedly cheap price.
He was right about that and many other small cap stocks. The six stocks that
Gottfried has recommended at his various VIC appearances have gained an average
of 63%.
Guy Gottfried is the founder and head of the Toronto-based Rational Investment
Group. Hell share his latest high-conviction ideas at the 8th Annual Spring Value
Investing Congress in Las Vegas, on May 6th and 7th.
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7/10/2014 Value Investing Letter - Guy Gottfried: Discovering Canadas Small Cap Gems
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