Build Your Portfolio On A Solid Foundation : All You Need To Succeed – in 500 pages of Investing Strategy and Selections


Stock Market Magic: Building Your Apprentice Millionaire Portfolio 2012: All you need to succeed in today's stock market

Available at http://www.amazon.com

Stock Market Magic:

Building Your Apprentice

Millionaire Portfolio

 All you need to succeed in today’s stock market [Paperback]

Jack A. Bass (Author)

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All You Need To Succeed – in 500 pages of Investing Strategy and Selections


Stock Market Magic: Building Your Apprentice Millionaire Portfolio 2012: All you need to succeed in today's stock market

Available at http://www.amazon.com

Stock Market Magic:

Building Your Apprentice

Millionaire Portfolio

 

 All you need to succeed in today’s stock market [Paperback]

Jack A. Bass (Author)

5.0 out of 5 stars  See all reviews (2 customer reviews) | Like 1678

Price: $28.95 & this item ships for FREE with Super Saver Shipping

All You Need To Succeed – in 500 pages of Investing Strategy and Selections


Stock Market Magic: Building Your Apprentice Millionaire Portfolio 2012: All you need to succeed in today's stock market

Available at http://www.amazon.com

Stock Market Magic: Building Your Apprentice Millionaire Portfolio 2012: All you need to succeed in today’s stock market [Paperback]

Jack A. Bass (Author)

5.0 out of 5 stars  See all reviews (2 customer reviews) | Like 1678

Price: $28.95 & this item ships for FREE with Super Saver Shipping

Great-West Lifeco Inc. The Magic of Ireland

English: Logo for Great-West Lifeco

English: Logo for Great-West Lifeco (Photo credit: Wikipedia)

GWO : TSX : C$26.97
HOLD 
Target: C$28.00

COMPANY DESCRIPTION:
Great-West Lifeco Inc. is a financial services holding company with interests in the life insurance, health insurance, retirement savings, investment management and reinsurance businesses and operates in Canada, the United States, Europe and Asia. Lifeco and its companies have over $496 billion in assets under administration, and are members of the Power Financial Corporation group of companies.

On February 19, GWO announced an agreement to acquire Irish Life from the Irish government for total proceeds of Euro 1.3 billion ($1.75 billion). While the deal should move GWO’s 2013E and 2014E EPS growth to 9% and 13%, respectively, beyond the estimated earnings accretion, we do not view Irish Life or Ireland generally as meaningfully augmenting GWO’s long-term growth potential. In this respect, we view the deal as a solid financial transaction, but not one we would call strategically significant to the company as a whole.
Based on GWO’s disclosures, the purchase price values Irish Life at 10.5x 2014E earnings and 1.3x book value at June 30, 2013. Including after pretax synergies of $54 million, the deal values Irish Life 8.2x at 2014E earnings. Although estimated synergies may appear light (10-15% of Irish Life expenses), with much of Irish Life’s workforce unionized, we believe it is appropriate to be conservative. Using the June 2012 Irish Life results, GWO is paying a 20-25% discount to the Irish Life’s embedded value. In our view, this suggests that GWO is taking into account the potential loss of in-force business through the high level of surrender activity (insurance and investment) at this time. Since 2007, lapsation has doubled to 20%. The risk for GWO is if the high level of lapsation continues for significantly longer than GWO priced into the transaction and builds into reserves at closing. Taking into consideration the very conservative nature in which the deal is being financed, we believe GWO can afford to be very conservative in building reserves, which should enhance future profits.
The deal is estimated to add 10 cents to 2014E EPS (4% accretive). Management’s 10 cent estimate is based on acquired business adding $215 million and is consistent with annualizing Irish Life’s first half 2012 earnings and the inclusion of most of the estimated synergies. In raising our 2014E earnings by almost $240 million and 2014E EPS by $0.12 per share, we are building in very modest yield enhancement benefits.
We are maintaining our HOLD rating on Great-West Lifeco. Our 12-month target price of C$28.00 (up from C$26.00) is based on an 11.2x P/E applied to our 2014E EPS, reflecting a 7% P/E premium to group. We believe the premium multiple is supported by GWO’s greater earnings stability. While we continue to favour the banks, our target prices suggest better upside potential in Industrial Alliance and Great-West Lifeco than MFC and SLF.

The Need To Succeed – in 500 pages of Investing Strategy and Selections


Stock Market Magic: Building Your Apprentice Millionaire Portfolio 2012: All you need to succeed in today's stock market

Available at http://www.amazon.com

Stock Market Magic: Building Your

Apprentice Millionaire Portfolio :

All you need to succeed in today’s stock

market [Paperback]

Jack A. Bass (Author)

5.0 out of 5 stars  See all reviews (2 customer reviews) | Like 1678

Price: $28.95 & this item ships for FREE with Super Saver Shipping

Step Up Your Game – All You Need To Succeed – in 500 pages of Investing Strategy and Selections


Stock Market Magic: Building Your Apprentice Millionaire Portfolio 2012: All you need to succeed in today's stock market

Available at http://www.amazon.com

Stock Market Magic: Building Your

Apprentice Millionaire Portfolio:

All you need to succeed in today’s stock

market [Paperback]

Jack A. Bass (Author)

5.0 out of 5 stars  See all reviews (2 customer reviews) | Like 1678

Price: $28.95 & this item ships for FREE with Super Saver Shipping

All You Need To Succeed – in 2013 – 500 pages of Investing Strategy and Selections


Stock Market Magic: Building Your Apprentice Millionaire Portfolio 2012: All you need to succeed in today's stock market

Available at http://www.amazon.com

Stock Market Magic: Building Your Apprentice Millionaire Portfolio :

All you need to succeed in today’s stock market [Paperback]

Jack A. Bass (Author)

5.0 out of 5 stars  See all reviews (2 customer reviews) | Like 1678

Price: $28.95 & this item ships for FREE with Super Saver Shipping

The Discilpline To Profit :All You Need To Succeed – in 500 pages of Investing Strategy and Selections

The selections given are all guided by the AMP book.

I am puzzled how many readers expect to profit if they don’t know the  underlying strategy/ sector and individual selection criteria .

You cannot ” win” unless you know the rules of the game . Gambling that one selection will better your average is not a strategy at all.

I is notas difficult as brain surgery – you need a long term strategy and the selections that meet that strategy.

 

Stock Market Magic: Building Your Apprentice Millionaire Portfolio 2012: All you need to succeed in today's stock market

Available at http://www.amazon.com

Stock Market Magic: Building Your

Apprentice Millionaire Portfolio:

All you need to succeed in today’s stock

market [Paperback]

Jack A. Bass (Author)

5.0 out of 5 stars  See all reviews (2 customer reviews) | Like 1678

Price: $28.95 & this item ships for FREE with Super Saver Shipping

All You Need To Succeed THIS YEAR – 500 pages of Investing Strategy and Selections


Stock Market Magic: Building Your Apprentice Millionaire Portfolio 2012: All you need to succeed in today's stock market

Available at http://www.amazon.com

Stock Market Magic: Building Your

Apprentice Millionaire Portfolio

All you need to succeed in today’s stock market

Jack A. Bass (Author)

5.0 out of 5 stars  See all reviews (2 customer reviews) | Like 1678

Price: $28.95 & this item ships for FREE with Super Saver Shipping

All You Need To Succeed – in 500 pages of Investing Strategy and Selections


Stock Market Magic: Building Your Apprentice Millionaire Portfolio 2012: All you need to succeed in today's stock market

Available at http://www.amazon.com

The Stock Market Book For The New Year

 

Building Your Apprentice Millionaire

Portfolio  Your Profits Start Here

All you need to succeed in today’s stock

          market and The New Year

Jack A. Bass (Author)

5.0 out of 5 stars  See all reviews (2 customer reviews) | Like 1678

Price: $28.95 & this item ships for FREE with Super Saver Shipping
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