Tangible assets are also known as real assets. The opposite of a tangible asset is an intangible asset—this includes copyrights, patents, trademarks or intellectual property.
One of the most important things to look for when evaluating a stock is hidden assets. By definition, a stock’s hidden assets have not had much impact on its price. If you paid little if anything for the assets, you have little to lose.
But the best hidden assets will eventually expand a company’s profit, grab investor attention, and push up its stock price. If you buy a stock for its hidden assets, but those assets stay hidden or ignored by investors— or turn out to be less valuable than you thought—it can’t hurt you much.
One of the most tangible of hidden assets is found in real estate. These assets include long-time real estate holdings that are worth much more than the balance-sheet value (usually original cost minus depreciation).
The best time to find hidden assets is when they’re still hidden, long before the company begins taking steps to profit from them.
At TSI Network, we recommend using our three-part Successful Investor philosophy:
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Progressive Waste Solutions, $23.80, symbol BIN on Toronto (Shares outstanding: 115.2 million; Market cap: $2.7 billion; www.progressivewaste.com), changed its name from IESI-BFC in May 2011. IESI-BFC was called BFI Canada until June 1, 2009, when it merged with its wholly owned subsidiary, IESI-BFC Ltd.
In… Read More
Progressive Waste Solutions, $21.15, symbol BIN on Toronto (Shares outstanding: 115.2 million; Market cap: $2.4 billion; www.progressivewaste.com), changed its name from IESI-BFC in May 2011. IESI-BFC was called BFI Canada until June 1, 2009, when it merged with its wholly owned subsidiary, IESI-BFC Ltd.
In Canada,… Read More
Many investors start their search for winning stocks by looking at a company’s income statement and balance sheet. But it helps to remember that earnings are adjusted and that some items in a corporate report are more useful to investors than others.
A company’s earnings… Read More
Dell Inc., $9.19, symbol DELL on Nasdaq (Shares outstanding: 1.7 billion; Market cap: $15.6 billion; www.dell.com), makes desktop and laptop computers, servers and related accessories, such as monitors, printers and keyboards. Computer hardware accounts for 80% of its sales. The remaining 20% comes from computer-related… Read More
HollyFrontier, $38.03, symbol HFC on New York (Shares outstanding: 203.6 million; Market cap: $7.7 billion; www.hollyfrontier.com), is one of the largest independent petroleum refiners in the U.S. The company was formed when Holly Corporation bought Frontier Oil for $2.9 billion in July 2011.
HollyFrontier produces and… Read More
Pat McKeough responds to many personal questions on specific stocks and other investment topics from the members of his Inner Circle. Every week, his comments and recommendations on the most intriguing questions of the past week go out to all Inner Circle members. And each… Read More
Boyd Group Income Fund, $14.59, symbol BYD.UN on Toronto (Units outstanding: 12.5 million; Market cap: $182.4 million; www.boydgroup.com), operates 186 auto-body repair centres in western Canada and 14 U.S. states. These shops operate under a number of banners, including Boyd Autobody & Glass, Gerber Collision… Read More
Whether you’re a new or experienced investor, professional investment advice can boost your returns.
A company’s earnings are different from an employee’s salary. Earnings are indefinite and subject to revision, even years later. Companies have to estimate many costs, and make yearly write-offs… Read More
When we’re looking for stocks to recommend in our newsletters and investment services, our stock market research puts a lot of importance on the amount of goodwill that a company carries as an asset on its balance sheet.
Goodwill is an accounting entry that reflects… Read More
Boyd Group Income Fund, $11.85, symbol BYD.UN on Toronto (Units outstanding: 10.8 million; Market cap: $123.9 million; www.boydgroup.com), operates 66 auto-collision repair centres in western Canada and 13 U.S. states. These shops operate under a number of banners, including Boyd Autobody & Glass, Gerber Collision… Read More
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This privacy policy is applicable to all TSI Network Visitors, Clients, Employees, Suppliers, Web sites, Management, and all other interested parties. Any links to or from our site are not covered by this policy. We encourage you to read the privacy policies of every site that you visit.
The privacy of the site/store visitor is very important to TSI Network, and is respected at all times. The information we receive from customers helps us to personalize and continually improve your online experience at TSI Network.
We do not collect or disclose personal information, except when it is provided to us voluntarily by the site/store visitor with their consent.
We store subscriber and password files containing personal information securely. These files are stored in secure areas that are not accessible to the general public. We are always working to ensure the security of your personal information.
We are continuously in the process of improving our sites and services. If any new features or policies require a change to this current policy, we will post a clear notice of this change on pages of our site where the privacy policy appears. The principle behind this privacy policy is to collect information with your knowledge and consent.
What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
Information You Give Us: We receive and store any information you enter on our website or give us in any other way through sign-up forms or ordering forms for publications and services. You can choose not to provide certain information, but then you might not be able to take advantage of many of our services and features. We use the information that you provide for such purposes as responding to your requests, customizing your web browsing experience for you, improving our website, and communicating with you.
Automatic Information: We receive and store certain types of information whenever you interact with us. For example, like many websites, we use "cookies," and we obtain certain types of information when your web browser accesses TSI Network.
Information from Other Sources: For reasons such as improving personalization of our service (for example, providing better product recommendations or special offers that we think will interest you), we might receive information about you from other sources and add it to our account information. We also sometimes receive updated delivery and address information from our shippers or other sources so that we can correct our records and deliver your next purchase or communication more easily.
We do reserve the right, however, to collect and perform statistical analyses of the internet traffic to our website for our internal use. However, information collected does not allow us to identify any individual, and will not collect any personal information of the visitor. Furthermore, we do not sell, rent or loan to any outside parties the information collected and analyzed.
Although you may be able to access some of our websites without being required to register or provide personal information, certain websites and sections of our websites may require registration. In addition, if you choose to contact us to ask a question, we will collect your personal information so that we can respond to your question.
To make the visitor’s experience on our website easier, we may use per-session “cookies” (session identifiers) to track the state of the visitor session. This “cookie” is destroyed when your session with our website is over.
Cookies are alphanumeric identifiers that we transfer to your computer's hard drive through your web browser to enable our systems to recognize your browser and to provide features like "Remember Me" for our paying subscribers. Cookies are also used during the ordering process to help ensure your order is handled correctly. We do not extract any information about individual users or their computers as a part of this process.
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Internet Protocol (or IP) addresses are collected for all visitors to this site. This information is used for the purposes of traffic analysis.
Does TSI Network Use the Information It Receives?
"Contact Us" and Comment Features: TSI Network encourages visitors to its websites to contact us with questions and comments. Email addresses and other information of persons using these features may be collected in order to facilitate our responses to those inquiries.
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TSI Network may provide personal and other information to a purchaser or successor entity in connection with the sale of TSI Network, a subsidiary or line of business associated with TSI Network, or substantially all of the assets of TSI Network or one of its subsidiaries, affiliates or lines of business.
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Except as provided herein, TSI Network will not sell or rent personal information about you to unaffiliated third parties.
We may disclose personal information you have provided through our websites, for the above purposes, to persons or companies that we retain to carry out and other activities for which you have registered or in which you have otherwise asked to participate. In particular, we may for these purposes transfer information to any country (including the USA and other countries which may not offer the same level of data protection as Canada). We also will disclose personal information if required by law, including compliance with warrants, subpoenas or other legal processes.
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COMMENTS: TERMS OF USE
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Special Note for Parents
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TSI Network does everything possible to prevent unauthorized intrusion to its websites and the alteration, acquisition or misuse of personal information by unauthorized persons. Notably passwords submitted by users of our websites are encrypted using encryption mechanisms. However, TSI Network cautions visitors to its websites that no network, including the Internet, is entirely secure. Accordingly, we cannot be responsible for loss, corruption or unauthorized acquisition of personal information provided to our websites, or for any damages resulting from such loss, corruption or unauthorized acquisition.
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TSI Network has procedures in place to keep your personal information accurate, complete and current for the purposes for which it is collected and used. You may review the information that you have provided to us and where appropriate you may request that it be corrected. If you wish to review your personal information please send a request to: service@tsinetwork.ca.
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If you wish to request access to, or correction of, your personal information in our custody or control, or find out how we've used or disclosed that information, please make your request in writing to us. We may need to verify your identity before searching for or providing you with personal information. In some circumstances, we may not be able to provide access to your personal information, for example if it contains the personal information of other persons, if it constitutes confidential commercial information, or if it is protected by solicitor-client privilege. If we deny your request for access to, or refuse a request to correct, your personal information, we will advise you of the reasons for this refusal.
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How can you ask questions about our Privacy Policy and access your personal information?
The provision of information by you is entirely voluntary and you have the right not to provide information. Subject to applicable law, you may have the right to receive certain information as to whether or not personal information relating to you is held by TSI Network and to obtain a copy of such information that is sought. You may also have the right to require information, where appropriate, to be erased, blocked or made anonymous or to have data updated or corrected. If you do not wish TSI Network to hold information about you or if you wish to have access to information, modify information, or object to any processing of information or if you have questions please contact us.
What Choices Do I Have?
Changes to this Policy
This Policy is the sole authorized statement of TSI Network's practices with respect to the collection of personal information through TSI Network's websites and the subsequent use and disclosure of such information. Any summaries of this Policy generated by third party software or otherwise (for example, in connection with the "Platform for Privacy Preferences" or "P3P") shall have no legal effect, are in no way binding upon TSI Network, shall not be relied upon in substitute for this Policy, and neither supersede nor modify this Policy.
TSI Network may revise this Policy from time to time.
Legal Notices and Disclaimers
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