http://www.freundinvesting.com/international/chchelicopter.html

You need to compare 2001 financials to 2000 financials. A great, cheap, source for Canadian company financial data is Advice For Investors – http://www.adviceforinvestors.com

If you’re going to stock pick, you need access to historical data in order to explain anomalies such as this or RET.A’s 1996 earnings stumble.

If you look at IGM’s comparative financials, you see assets going from C$1.985 bil to C$6.122 with a huge jump in debt, bank lines, preferred, common stock, and intangibles. Looking at the income statement, you see the expected increases in revenues and expenses. You also see a one-time expense of C$95.610 mil. Adding this back produces eps of 1.43/shr. This is a 6% increase over 200 0 vs. the actual 22% decline.

For all comapnies but especially for rapidly growing companies such as IGM, it’s critical to look at how ratios are changing. In this case, specifically: has the Mackenzie acquisition paid off? In a market downturn when AUM (assets under management) shrink both by price declines and redemptions, what will happen given the increased leverage resulting from the acquisition. How quickly are they paying down debt.

It’s not enough to look at historical trends which are a start point, and nothing more, to identifying companies that you might want to own. You have to look into and behind the financials in order to understand the company.

I used to use CSA software but found it limiting and limited so I developed my own – http://www.dividendgrowth.org/Do-It-Yourself.htm

You need to compare 2001 financials to 2000 financials. A great, cheap, source for Canadian company financial data is . If you’re going to stock pick, you need access to historical data in order to explain anomalies such as this or RET.A’s 1996 earnings stumble.

I used to use CSA software but found it .