Greetings Canadian Readers!

O Canada!

I have noticed the past few days that my readership has gone up.  I looked at my traffic sources, and a large chunk is coming from the Canadian Money Forum and from Corner of Berkshire & Fairfax.

To honor these new readers, I thpught I would do a special analysis of Canadian MFI stocks.As I type this, I have no idea how it will turn out.  I am a bit too lazy to do a ton of work, so I am using my standard routines; but will try to enhance the stock list with numerous Canadian stocks that are traded in some fashion in the US.  Many of them look pretty small, so I may weed them out at the "fini" (thought you would like that).

As I peruse the list (initially about 270 stocks); as expected there are a lot of mining companies.  Also a fair number of energy related companies.  As the MFI approach extracts financial comapnies; I am pulling them out as well.

I am waiting for the worksheet to grind.  I have owned a number of Canadian stocks myself, including BNS, SLF, TCK and currently NSU.  I have also owned some that have changed names or been bought, such as FDG and KHD. As a US investor; I find Canada to be an attractive investment.  Over time, I expect the Loonie to out-perform the dollar.  In addition; Canada is not going over any fiscal cliff that I am aware of and the banking sector seems much stronger.  And I trust Canada - I would not expect shenanigans there like I have seen in Chinese stocks for instance.

Here are the top 50. 

Ticker	Rank	Date	Stock Price	Market Cap	Earnings Yield	ROIC	Yahoo Yield	Country
NSU	1	11/28	4.27	854	73%	88%	2.4%	Canada
CALVF	2	11/28	0.10	50	106%	82%	0.0%	Canada
CRMMF	3	11/28	0.29	14	15%	205%	0.0%	Canada
TGA	4	11/28	10.31	780	19%	32%	0.0%	Canada
AZK	5	11/28	3.70	610	22%	47%	0.0%	Canada
AGU	6	11/28	100.08	15,813	13%	35%	0.7%	Canada
ACKBF	7	11/28	0.14	1	10%	126%	0.0%	Canada
TGD	8	11/28	3.26	471	12%	38%	0.0%	Canada
RIOAF	9	11/28	4.96	908	11%	51%	0.0%	Canada
TCX	10	11/28	1.41	68	9%	451%	0.0%	Canada
CLS	11	11/28	7.52	1,570	20%	22%	0.0%	Canada
MITL	12	11/28	2.65	142	12%	40%	0.0%	Canada
MGA	13	11/28	45.59	10,718	15%	23%	2.4%	Canada
LMLP	14	11/28	3.41	99	7%	2606%	0.0%	Canada
STADF	15	11/28	0.43	158	19%	22%	0.0%	Canada
NDZ	16	11/28	6.65	412	11%	29%	4.5%	Canada
SMTX	17	11/28	2.24	37	17%	17%	0.0%	Canada
GIB	18	11/28	23.29	6,228	8%	88%	0.0%	Canada
GTE	19	11/28	5.73	1,631	14%	18%	0.0%	Canada
TVIPF	20	11/28	0.02	11	80%	13%	0.0%	Canada
ABX	21	11/28	34.83	34,865	12%	17%	1.6%	Canada
POT	22	11/28	38.57	33,788	9%	28%	1.5%	Canada
IAG	23	11/28	12.03	4,534	13%	16%	2.1%	Canada
MLGAF	24	11/28	0.04	7	23%	10%	0.0%	Canada
SVM	25	11/28	5.66	968	9%	20%	1.8%	Canada
UFS	26	11/28	80.38	2,878	14%	11%	2.0%	Canada
SJR	27	11/28	21.49	9,520	9%	41%	4.5%	Canada
HBM	28	11/28	9.73	1,673	23%	12%	2.2%	Canada
CESDF	29	11/28	10.62	609	10%	33%	0.0%	Canada
OTEX	30	11/28	56.50	3,329	5%	222%	0.0%	Canada
STN	31	11/28	37.17	1,702	8%	44%	1.2%	Canada
KGC	32	11/28	10.34	11,845	10%	11%	1.6%	Canada
MEOH	33	11/28	30.17	2,832	9%	12%	2.4%	Canada
RCI	34	11/28	43.63	22,600	9%	32%	3.6%	Canada
BDRBF	35	11/28	3.39	5,878	6%	30%	0.0%	Canada
PTSRF	36	11/28	7.38	158	5%	430%	0.0%	Canada
IMO	37	11/28	43.31	36,874	11%	19%	1.1%	Canada
PAAS	38	11/28	18.88	2,875	11%	10%	0.9%	Canada
TCK	39	11/28	32.38	18,975	18%	16%	2.4%	Canada
THI	40	11/28	46.77	7,252	8%	39%	1.8%	Canada
COT	41	11/28	8.60	822	8%	14%	0.0%	Canada
PPP	42	11/28	6.67	623	10%	10%	0.0%	Canada
DSGX	43	11/28	8.67	554	4%	78%	0.0%	Canada
SWIR	44	11/28	7.81	240	6%	16%	0.0%	Canada
LULU	45	11/28	73.55	10,715	3%	117%	0.0%	Canada
BIN	46	11/28	19.47	2,244	7%	14%	2.8%	Canada
RFP	47	11/28	11.55	1,133	15%	6%	0.0%	Canada
COSWF	48	11/28	20.50	9,943	12%	17%	0.0%	Canada
BCE	49	11/28	42.34	32,805	8%	22%	5.1%	Canada
STKL	50	11/28	6.18	412	7%	11%	0.0%	Canada

Of course the bottom stocks on this are much worse than the top 50 in MFI website; as this is top 50 from a universe of 385 stocks.  I also had to make more manual adjustments than I expected.  Not sure if this was just timing related, but a lot of companies had updated balance sheets as of 9/30/12, but income statements only through 6/30/12.  This does happen occasionally; especially near filings of 10-Qs.  Just seemed more common than usual here.

As I look at the list; I am surprised not to see MIL; which is a derivative from the KHD I used to own.  Hmm, I took a look. They haven't made much money.

Anyway, happy reading - Canadians and non-Canadians.  Maybe another day I will try another country or region.  I did not see any companies that I obviously should invest in (besides the NSU I own).  but this can serve as a starting point for further digging. Bon Chance!