Sometimes the best bargains in the market are the easiest to overlook. While everyone is searching for value in esoteric places there is a developed market within driving distance from the US that speaks English (mostly) and does business with the US that's hitting new lows. Yet investors write off Canada because the perception is the Canadian market is 100% gold mining and resource companies.
For example, did you know there are 798 non-resource, non-oil and gas companies in Canada trading for less than book value? All of these are micro cap companies, off the radar and un-investable for some of the largest and best known Canadian funds. Canada is a hot bed of value, 22% of their market trades for less than book value. Compare that to the US where only 11% of the market trades for less than book value.
Maybe you aren't as interested in absolutely cheap companies and want growth, there are plenty of cheap growing companies in Canada. There are a number of companies with 25% year over year revenue growth trading for less than 5x EV/EBITDA. In the US there are only nine, and a few of them are China based US listed companies with dubious financials.
It can be hard work to comb through dozens or hundreds of companies looking for a diamond in the rough of potential investment candidates. There has to be a better way, and there is.
Imagine a setting with 40 hand selected companies that offer excellent investment potential where you can speak directly to management in an one on one setting. Combine that with dozens of well known speakers and hundreds of like minded investors, all gathered in the same place, all with the same goal, find the best opportunities. We did just that in Philadelphia in November 2015 and now we're bringing the same format to Canada.
In April 2016 we will be hosting The Microcap Conference at the Hilton in downtown Toronto.
The conference starts Monday, April 11th at 1pm with speakers and company presentations. The afternoon is completed with a happy hour, dinner, and keynote presentation. Tuesday is packed full of presentations by well known investors, fund managers, and companies as well as one on one sessions with company management. We end the conference with another happy hour giving you time to network and share ideas with fellow investors. We'll have plenty of time to network throughout the conference.
You can find more information as well as sign up to attend here.
I'm looking forward to seeing you in Toronto!
The Ben Graham Value Investing Conference and the Fairfax shareholder meeting are right next door on the 13th and 14th so it has the makings of an interesting few days.
ReplyDeleteAlso the CAD is so cheap its almost free for Americans visiting our fair city!
ReplyDelete