Copyright © 2009
Gal^Stad
Investments Inc.
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THE CONTRA GUYS

"The Contra Guys" is a column that appears in the Exclusive
Insight section of the subscription-based GlobeinvestorGOLD website every
other Friday. The column may also appear in the
print edition of the Globe and Mail's Report on Business. Links to past columns are provided below.
May 11, 2009 "On the Rebound: A Baker's Dozen of Stocks with Eye-Popping Rebounds"
- April 14, 2009 "Auto Industry: Government, Union Slow to Adopt Innovative Solutions"
- March 27, 2009 "Ten That Have Raised Their Dividends"
- March 12, 2009 "Marriott: Worth Checking Into?"
- February 24, 2009 "Newalta: One to Leave by the Curb Rather than Recycle"
- January 30, 2009 "Ban on AON Trades Bad for Investors"
- January 16, 2009 "2008 in Review: U.S. Stocks"
- January 5, 2009 "2008 in Review: Canadian Stocks"
- December 12, 2008 "Futures Prices: A Window into the, um, Future?"
- November 28, 2008 "Richmont Redux: Seeking to Debunk the Efficient Market Hypothesis"
- November 14, 2008 "RV Builders Hit Economic Speed Bumps"
- October 31, 2008 "Oil: Too Slippery a Subject for Price Prognosticators"
- October 17, 2008 "Poking Holes in Harper's Ark"
- October 3, 2008 "High Executive Pay? We Say No Way"
- September 19, 2008 "Keep a Laser-Like Gaze on Those Partial Fills"
- September 4, 2008 "We Weren't Manic Over Franklin's Dutch Auction"
- August 22, 2008 "Integrated Silicon Solution: Will It Chip in a Healthy Return?"
- August 8, 2008 "Will Funeral Home Takeover Get Buried?"
- July 30, 2008 "Don't Bank on Financial Stocks Yet"
- July 11, 2008 "Takeover Plays Offer Their Own Risks"
- June 27, 2008 "Value Traps Can Cause Nightmares"
- June 13, 2008 "A Dialogue about Plato"
- May 30, 2008 "Why the Housing Bubble Blew Up"
- May 16, 2008 "Iomega: A Healthy Scratch from the Contra Lineup"
- May 1, 2008 "Pebercan: Political Risk, but Potential Value"
- April 18, 2008 "Magic Software: A Hat Trick, or a Vanishing Act?"
- April 4, 2008 "Infocus: What, Us Cheap?"
- March 20, 2008 "Gold Prices: Sock It to Us"
- March 6, 2008 "Norsat Gaining Altitude"
- February 22, 2008 "Credit Crunch Means It's Still Sub-Prime Time for Banks"
- February 8, 2008 "Intertape: A Rare Chance to Buy Canadian"
- January 25, 2008 "Insights and Hindsights from Lunchtimes Past"
- January 11, 2008 "2007 in Review: U.S. Stocks"
- December 21, 2007 "2007 in Review: Canadian Stocks"
- December 7, 2007 "Magellan Aerospace: Still Waiting for Take-Off"
- November 23, 2007 "Furniture Industry Could Use Support"
- November 9, 2007 "Investors Overreact to Trust Tax Announcement"
- October 25, 2007 "Nashua: Sometimes, Boring Can Be Good"
- October 12, 2007 "Business Cycle Makes Autozone a Short Candidate"
- September 27, 2007 "A Spar-ring Partner Outside the Portfolio"
- September 17, 2007 "What Next for the Hedge Fund Young Lions?"
- August 30, 2007 "Gambling Stocks: Knowing When (Not) to Hold 'Em"
- August 15, 2007 "Tip-toe Thru the Market, 'Cause It's No Bed of Roses"
- August 3, 2007 "Hartco's Hopping and We're Happy to Hold"
- July 20, 2007 "Still Dragging a Line for High Liner"
- July 6, 2007 "Zarlink: Will Chips Put Us on the Gravy Train?"
- June 8, 2007 "U.S. Economy: Are the Coal-Mine Canaries Chirping Their Last?"
- May 24, 2007 "Analysts: Still In for the Long Haul"
- May 11, 2007 "Wheat Pool Gets Deeper with Agricore Takeover"
- April 27, 2007 "Summer: How Recharged Batteries Can Raise Returns"
- April 12, 2007 "Blackstone IPO Defies Logic"
- March 30, 2007 "Solectron and Profitability: Does It Compute?"
- March 19, 2007 "Learning from History"
- February 23, 2007 "Of Blogs and Bogs"
- February 8, 2007 "Moore Wallace/R.R. Donnelley: Patience Pays Off Handsomely"
- January 28, 2007 "'Entertaining' Stocks Also Risky"
- January 12, 2007 "2007 in Review: U.S. Stocks"
- December 29, 2006 "2006 in Review: Canadian Stocks"
- December 15, 2006 "Will Forestry Be Next Industry to Soar?"
- December 1, 2006 "Loonie Makes Us Whistle a Happy Tune"
- November 17, 2006 "A King-Size Karmic Boost
- November 3, 2006 "Diversify, But Don't Overdo It"
- October 19, 2006 "Algoma: Power Play or Penalty Box?"
- October 6, 2006 "Amaranth: Hedge Funds an Accident Waiting to Happen"
- September 20, 2006 "No Contra Plays Among Canadian Furniture Sector"
- September 8, 2006 "Atlas Exemplifies Pitfalls of Business Trusts"
- August 11, 2006 "The Word on the Book Biz"
- July 28, 2006 "Contrarian Gambling?"
- July 13, 2006 "Network's Double Bottom"
- June 30, 2006 "Clean Power Fund Zaps One Contra Guy"
- June 16, 2006 "Real Estate Looks Risky"
- June 2, 2006 "Slimming Down the Portfolio"
- May 23, 2006 "Fonar: On Life Support?"
- May 19, 2007 "You Won't Be-Leaf This One"
- April 21, 2006 "Sea Containers Runs Aground"
- April 7, 2006 "Mining for Value"
- March 24, 2006 "Tale of Two Investors"
- March 10, 2006 "Avoid Thinking of Companies as 'Bad' or 'Good'"
- February 24, 2006 "Signs of Life in the Funeral Industry"
- February 10, 2006 "Air France Soars"
- January 27, 2006 "We're Sticking with Cygnal"
- January 16, 2006 "2005 in Review: U.S. Stocks"
- December 30, 2005 "2005 in Review: Canadian Stocks"
- December 2, 2005 "It's Never Too Soon to Become a Contrarian"
- November 18, 2005 "The Bargain Hunter: Zucker's Offer for HBC"
- October 28, 2005 "Refco Fiasco: Same Old Shenanigans"
- October 14, 2005 "Blowing the Whistle on Stelco Bailout"
- September 19, 2005 "A Positive Prognosis for Fonar?"
- September 6, 2005 "Harris Tunes in to a Takeover of Leitch"
- August 19, 2005 "A Closer Look at July's Mutual Fund Boom"
- July 22, 2005 "Is Telecom in Turmoil?"
- July 8, 2005 "Can Junior Miners Yield Major Returns?"
- June 24, 2005 "Book Reveals Why Almost Everybody but You Gets Rich off Your RRSP"
- June 10, 2005 "Google IPO: Sometimes It Pays to Break Rules"
- May 26, 2005 "Looking Back in Our Rear-View Mirror"
- May 24, 2005 "SR Telecom: Here's One We're Glad We Missed"
- April 29, 2005 "NQL a Classic Contrarian Play"
- April 15, 2005 "Bombardier Still Not Ready"
- April 1, 2005 "Goodwill Distorts Valuations"
- March 18, 2005 "Look Carefully at Impressive Stats"
- March 4, 2005 "eBay Won't Get Our Bid"
- February 18, 2005 "In for the Long Haul with Analysts"
- February 4, 2005 "CPP Fund Is Solid as Cement"
- January 21, 2005 "Smaller Brewers Are Hopping, Too"
- January 10, 2005 "2004 in Review: U.S. Stocks"
- December 23, 2004 "2004 in Review: Canadian Stocks"
- December 10, 2004 "Muddling Through a 'Muddle-Through' Economy"
- November 26, 2004 "Will Franklin Covey Prove a Highly Effective Purchase?"
- November 12, 2004 "Sodisco's Urge to Merge is Sated"
- October 29, 2004 "Economic Uncertainty Demands More Flexible Thinking"
- October 22, 2004 "Kelman Going Nowhere Slow"
- October 1, 2004 "Steaming Away from Westshore Terminals"
- September 17, 2004 "HBC: Play the Canadian Card"
- September 3, 2004 "Krispy Kreme Offers No Sugar Buzz for Investors"
- August 20, 2004 "Time for Leafs to Make a Contrarian Play"
- August 6, 2004 "Give Us a (Longer) Break!"
- July 23, 2004 "Forzani Not Low Enough for Contra Portfolio"
- July 9, 2004 "Grubb & Ellis: Taking a Flyer on Real Estate"
- June 25, 2004 "Will Theragenics Yield Glowing Results?"
- June 11, 2004 "Sodisco Seeks a Matchmaker"
- May 31, 2004 "Analysts Ignored Novell, but We Didn't"
- May 14, 2004 "When Management Is Paid Too Much, We Just Say No"
- April 30, 2004 "KLM Deal Encounters Turbulence"
- April 16, 2004 "Base Metals: When Does a Boom Become a Bubble?"
- April 2, 2004 "Thoughts about Betting on a Gold Bull"
- March 18, 2004 "KLM: A Survivor in a Troubled Industry"
- March 5, 2004 "Penn Treaty American: Walking on the Wild Side"
- February 22, 2004 "Algonquin Power Income Fund: Which Guy Is Right?"
- February 6, 2004 "Denison's All Aglow Amid Renewed Interest from Investors"
- January 23, 2004 "Is the Copper Vein Tapped Out?"
- January 9, 2004 "2003 in Review, Part 2: The Canadian Stocks"
- December 29, 2003 "2003 in Review, Part 1: The U.S. Stocks"
- December 15, 2003 "A Year-End Look (Back in Anger) at Air Canada"
- November 28, 2003 "For Now, There May Be Better Ideas Than Ford"
- November 21, 2003 "Moore Wallace: Another Year, Another Four Takeovers"
- November 6, 2003 "What's So Nutty 'Bout a 'Strong' Loonie?"
- October 24, 2003 "Vive l'Air France?"
- October 10, 2003 "Market Timing Isn't Everything, But It's Not Nothing"
- October 1, 2003 "Guide for the Young Contrarian"
- September 26, 2003 "Those Swingin' Small Caps"
- September 15, 2003 "Economic Policies Will Have Unintended Consequences"
- August 29, 2003 "Getting a Feel for Copper"
- August 15, 2003 "Stelco: Our Big Fat Hamiltonian Tax Loss"
- August 1, 2003 "Our Japanese Turn Is Textbook Contrarianism"
- July 18, 2003 "OfficeMax: Finally a Takeover Target"
- July 4, 2003 "High Liner: Waiting to Sail into the Sunset"
- June 20, 2003 "Pantorama Pitfall: Thinly Traded and Underperforming"
- June 6, 2003 "Magna a Contra Play? Not on Your Life"
- May 23, 2003 "The US Dollar Bubble Has Burst"
- May 3, 2003 "Bombay: Classic Contrarian Redemption"
- April 25, 2003 "Not Sure How Far to Trust the Legacy REIT"
- April 11, 2003 "Betting on the Reaper"
- March 28, 2003 "Corel a Takeover Target?"
- March 14, 2003 "When to Begin Tax-Loss Selling? Decisions, Decisions!"
- February 28, 2003 "High-Yield Bonds Evidence of a Corporate Credit Crunch"
- February 14, 2003 "Ethical Investing: Are Social Returns as Important as Financial Results?"
- January 31, 2003 "The Bombay Bus Was Driverless, But Making Good Time"
- January 17, 2003 "Year-End Review, Part 2: The Losers Were Few"
- January 3, 2003 "Year-End Review, Part 1: The Winners Were Many"
- December 20, 2002 "Xerox Not Poised to Copy Past Success"
- December 6, 2002 "Call Us Morons For Saying So, But Bank Mergers Are Dumb"
- November 22, 2002 "Time for Microsoft to Grow Up"
- November 8, 2002 "Time to Consider Turnin' Japanese?"
- October 25, 2002 "Takin' the Rite Strides to Minimize Risk"
- October 11, 2002 "Service Corp.: Fearing Not the Reaper"
- September 27, 2002 "We're Back ... and Backing Corriente"
- June 22, 2002 "One Last Trip to the Buffet"
- May 18, 2002 "Still Not Time to Dial Up Telecom Stocks"
- April 20, 2002 "Goin' on a Roman Holiday"
- March 30, 2002 "A New Accounting Standard: Before Bad Stuff"
- March 2, 2002 "Now Is the Time to Make an '02 RRSP Investment"
- February 23, 2002 "Can Sodisco Co-Exist with 800-Pound Retail Gorillas?"
- January 26, 2002 "KLM Our Choice in the Airline Sector"
- December 29, 2001 "Year-End Review -- 64.8 Percent Return for '01 OK by Us"
- December 22, 2001 "Aur Resources Hedges Cautiously"
- December 8, 2001 "'Tis the Season to Score Some Deals"
- November 24, 2001 "Moore: Shining Example of a Turnaround Play"
- November 3, 2001 "Contra Portfolio Battered but Not Beaten"
- September 22, 2001 "Watching Gold But Sitting on Cash for Now"
- September 8, 2001 "JDS: Cheap but No Bargain"
- September 1, 2001 "Denison: Almost Time to Bottom Fish?"
- August 4, 2001 "Contrarians Are Misunderstood"
- July 14, 2001 "Distress Is the Road to Understanding"
- June 30, 2001 "Will Diamonds Be Forever?"
- June 16, 2001 "Taking Profits During a Questionable Rally"
- June 2, 2001 "Mining Stocks: Should You Still Moil for Gold?"
- May 5, 2001 "Diversify with Online Brokers"
- April 18, 2001 "Sell Isn't Always a Four-Letter Word"
- April 4, 2001 "The Luscar Compromise"
- March 17, 2001 "Weighting: How Much Is Too Much?"
- March 3, 2001 "Nortel Debacle: Who's to Blame?"
- February 17, 2001 "Investing Software Steals the Show"
- February 3, 2001 "Defensive Investing: There's No Easy Formula"
- January 20, 2001 "Similarity Between Cigarettes & Cellphones?"
- January 6, 2001 "Looking for Stone-Cold Sectors"
- December 30, 2001 "Year-End Review -- U.S. Stocks"
- December 23, 2000 "Year-End Review -- Canadian Stocks"
- December 9, 2000 "OfficeMax a Takeover Candidate?"
- November 25, 2000 "Can Harry Potter Save Enesco?"
- November 11, 2000 "The Art of Buying Thinly Traded Stocks"
- October 28, 2000 "Sheer Luck and Stock Prices"
- October 14, 2000 "Luscar and Westshore"
- September 30, 2000 "High Liner"
- September 16, 2000 "Big Boppers"
- August 26, 2000 "Market Distortions"
- July 29, 2000 "Bombay and Stride Rite"
- July 8, 2000 "Share Buybacks"
- June 24, 2000 "Buy and Hold"
- June 10, 2000 "Dow Facelift"
- May 27, 2000 "Mattel Is Hurting"
- May 13, 2000 "Bear Funds"
- April 29, 2000 "AmeriQuest"
- April 15, 2000 "Biotech Speculation"
- April 1, 2000 "Tobacco Opportunities"
- March 18, 2000 "Oil Patch Opportunities"
- March 11, 2000 "Y2K and Internet Propaganda"
- March 4, 2000 "Stop Loss Orders"
- February 19, 2000 "Moore in the Digital Age"
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