BookBuilderTM 30sep16

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Page 1 of 17 September 2016 © Copyright StockTakers Limited, All Rights Reserved. Copying Prohibited.
The author does not provide investment advice. In order to use reproduce or convey the material herein,
in any way, written agreement must be obtained from the author or its agent Architypes Inc.
StockTakers Limited is an Alberta corporation providing information on “likeables” equities.
StockTakers Limited encourages your seeking tax law advisor for capital gains tax dispositions.
Defending Your Capital
BookBuilder™ is about Simply Keeping It, Yours
30 September 2016 Update
Our BookBuilderTM
portfolios aim at building the children's education fund so they do not leave
school burdened like a borax mule with vitality sapping debt. Build your own deal book. Run your
online trading income account with our “likeables” because you need "to save your own bacon."
Several quarters in a row now, the ‘professional’ portfolio managers
have shown they are confused, do not know. It is proverbial to learn
and gain wisdom, Proverbs 8:5 in fact, but provably the portfolio
management class have no wisdom, only their confusion1
. The real
story is in brute methods of pension, insurance, ETFs and mutual
funds managers. They blinked and lost $trillions of your money, not
theirs. Your money, they put up for grabs in their zero-sum bubble2
.
Their confusion and indiscretion costs you dearly, again and again.
Fight their foolishness. Fend for yourself. Use our charity portfolios with our proprietary ‘likeables’
information to help you. Stoploss sets allow safety. Buy back at less than the stoploss and greater
than SF. Hold’em is the best strategy when market movers play goofy, ‘Ain’t Mis-behavin’
Wink’n, Blink’n and Naughty. Their reaction to externalities is wild gossip they ply on each other.
Balance sheet fundamentals of ‘likeable’ firms more slowly change. The Great Rotation was a burst
bubble of Quantitative Eating created by the ‘market makers’ confusion3
. China only slipped to 6%
growth. Even India’s median income is now 20% higher than Russians (non-Oligarchs). There are a
lot more joining the muddle class world. We cannot afford more ‘externality’ that is fossil fueled
pollution at our ‘commons’ expense as China used to grow, or others want for their GDP, not yours.
BookBuilder™ is about Simply Keeping It, Yours. Keeping it yours is your intention when you
save. We enable you to build value. Build your own deal book in your online trading account to
keep your capital safe and grow wealthy. Keep your money, obtain a hopeful return. Keep it yours.
The financial products industry covets spending your savings for themselves. They do
not see your pocket as their restraint, rather their opportunity. These Artful Dodgers
are just skilled pick-pockets, in suits they bought with your cash. Avoid these ‘Goats’
that come to just eat your grass, graze your wallet, and leave4
. Do not loan them your
pocket-book on empty promises they have never delivered. Avoid these traps laid by
financial products conspiring to artfully exploit the small investor of hard-won
savings. Don’t give them your wallet. “Save your own bacon."
"for the value of money is also perishable." Jean-Baptiste Say , 1803
What investors expect of financial products is a way to secure their hard earned savings while
growing their wealth. The circularity of ‘investment talk’ is what Alice gets at the Tea Party.
“Take some more tea,” the March Hare said to Alice very earnestly.
“I’ve had nothing yet,” Alice replied in an offended tone: “so I ca’n’t take more.”
“You mean you ca’n’t take less,” said the Hatter: “it’s very easy to take more than nothing.”
Pretty much, they have taken it all before you arrived. “Alice, meet Dr. Artful Dodger.”

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Holding on to the value of what you have created is fundamental. Ancient wisdom is the feast we
enjoy today will not be on our table tomorrow. You know that. You work earn save and build
hopeful for future when you can do what is in your heart and skills to do for yourself. Cash only has
a temporary value that time erodes. Cash is powerful only when it is engaged in business processes
creating more wealth, adding value. Cash must stay invested to hold and grow, adding value,
earning an income. Invest with ‘likeables’ for your income and build your wealth for your future
You want to keep what you have saved, earn some income on it. Wall Street pillages your wallet.
That is their job, they say, making markets and venture capital loans by running your money. You
want your capital safe earning income hopefully above inflation. Wall Street disclaims talk about
your earning income. Their job is selling risk, to you, and they’re good at selling risk5
for their fees.
The Finance Insurance and Real Estate (FIRE) industry just burns your money. You want to keep
your money, hopefully, gain an income, above the corrosive rate of inflation. But, what can the
small investor do with $5,000? With our ‘likeables’ we show, because, we can.
Our ‘likeables’ stocks portfolios do this while being risk averse. The full history of trades made in
these charity portfolios in real time is shown. Our charity portfolios are proof of long term gain!
The Risk Price is our benchmark measure against the share price. It is our fundamental arbiter in
segregating the B-class of firms6
worthy of investment. The $toploss settings we publish for these
public portfolios should do the job of saving equity from serious harm due to market gossip induced
volatility. We shun the likely rude wealth takers, the N-class, that are not ‘likeables.’ We very
reasonably analyse balance sheets to identify and shun those doppelgängers of corporate fiction.
BookBuilder™ portfolios are of just our lowest cost ‘likeables’ our methods identify. Because we
can, our proprietary information is given freely in charity to enable small investors to keep their
savings growing into their wealth. Our method is proven in long term portfolios earnings
consistently exceeding inflation. Grow your earned savings for children’s tuition, nest building or
retirement income. Because you need to “save your own bacon" run your online trading account.
Our calculated Risk Price (SF) is provably the least stock price at which the company is “likeable”
so we can use “risk aversion”. Equities trading above our SF benchmark Risk Price are those
investors tend to like. Two of three continue to rise due investors’ behaviour. These are ‘likeables’
revealed by their Risk Price. This is based on new theory we prove works in the real world.
By using the mean 52 week price range to set the $topLoss on each, usually, the ‘laggards’ will be
cut before they damage capital safety. With gossip driven market bursting bubbles we narrowed
that ratio to avoid damage from persisting downside volatility fund managers made.They do not
know value, or which way to turn. By knowing firm worth the Risk Price is a bottom reference we
can also exit and buy-back at a lower price to recover. Then continue making substantial gains as
markets rebound. This is what we do when using the more active “collaring options7
” to profitably
buy lower or exit. By reinvesting cash to capital your portfolio grows wealth through the long term

“
while remaining "as good as cash” liquid whenever time comes you need some cash from dividends
earned in your income portfolio. Patient risk aversion for long term gain, that is new.
Throughout the immediate two years confused portfolio managers moved the massive holdings8
they claim in your name on news and gossip churn they and their confrere’s make-up. They are like
the Mock Turtle “only took the regular courses” but they have no proof. Volatility they and their
confreres make “surprising news” because they never know where they are9
. Convictions they have,
and plenty more10
are now finally indicted, but no reasons can they offer. No help for you comes
from them, just their litigation bill, you pay costs of their business. Those Artful Dodgers’ baseless
gambling with your money always pays them first, for their ‘reasons’ that do not help you.
Their rumours ping-pong nervous and unsure. They did not read or connect dots even when told,
Taper-talk fear was hot-air volatility11
tales, ‘fat-tails’ wagging dogs gossip. The ‘dollar per word’
market mavens floated on Quantitative Eating. Yeah, the Fed said rates will rise when they see
‘full’ employment, but, business innovation has not risen. “No crisis, no trades, no fees.”
The “Brexit’ crisis was about politicians in search of their income. Then they left the woes behind,
as, Boris blinked and Nigel nodded out without a programme to ‘fix-it’ as Jocks, Jordies and Taffs
consider taking a walk and deconstruct the rest. The `Brexit` panic of fund managers was unusual
causing their “I don`t know nothin’ ‘bout birth and babies” reaction triggering stoploss markers.
The ‘Grexit’ crisis extends back to British, Dutch, French and German banks pursuing high profits
in derivative backed loans, in 2007. IMF and ECB took over those loans to save those banks €214
Bn loses on their risky business. By law, the public is liable for Public Liab ility Corporations
(PLC) defaults, as greatest of unsecured creditors. Which public, whose pockets pay for bank folly,
is the political question. FSB is sending bankers back to the Medieval Diet of 50 years ago, high
reserves and bland fees12
when C-suite managers got six times a day labourer wage, not 300 times.
Austerity hangs everyone out to dry. Even before Keynes, US President Herbert Hoover in 1931
proposed international financial debt moratorium to fight the Great Depression. It was bank
management failure of due diligence in creating unwarranted credit bubble margin lending crashed
the liquidity needed for sound businesses of society that made ‘Hoovervilles’. Mellon partisan
politicking saved bankers their balance sheets at greater public expense for PLC defaults. Demand
grows economies. The business process creates ‘new money’ among its trading connections by
adding value, cash flows, covering debt carried. That is capitalism. Business Schools miss that.
Cash must be engaged in effective business processes to gain from value added by valiant business
ideas people and enterprises. Cash on balance sheets should be allocated to serve creating new
demand and innovation creating jobs in the real economy as consumers spend and demand.
Managers using QE cashroll for buying-in shares is an austerity measure that just helps them to
share-package cash bonuses, not shareholders13
, or growing business trading connections creating
worth. Despite long evident small but strong real growth, capitalization in jobs by innovation has
lagged, along with political leadership overwrought on fugitive tales from their dog-walkers.

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All 4 of StockTakers NYSE charity portfolios had doubled in less than 3 years on that ‘swell’ of
Quantitative Eating, then suffered the downturn of maven confusion14
. Like surfers we rise up from
the trough and ride below the crest. As our public charity portfolios show our reasoned ‘likeables’
analysis of firms managing their business debt structure is proven method. We prove by doing.
We call that proof, evidence our method tends to 26% IRR gains. Those were outlier results in
mixed markets confused by conventions, newspeak, jargon and aphorisms of the confused that do
not know, and will not bother to learn. This past year the ‘small beer’ froth blow off shows the real
economy steady and slow, but still far ahead of population growth, in three-fold GDP growth ratio.
We show our risk averse, capital safe, liquid ‘likeables’ investing based on Risk Price works, very
likably. All the gossip and volatility the ‘dollar-per-word’ market mavens have mumbled is their
business model ‘news’ for your trading. Those mavens whacked markets setback the August 2014
portfolios, just as in Q1-2013, trimming our outlier results. ‘Be Calm and Carry-on’ $toploss resets
ride out market waves mavens make. Our simple risk averse $toploss does well for the long term.
Cash is powerful only when invested as capital to hold and grow value, adding to your wealth. Let
others chase the gamblers’ risk/reward model that does not work. So called “financial advisors” at
financial institutions are risk sellers, Capital Appreciation Robbers, CAR sellers of ‘funky chicken’
products for fee-taking, leaving none for you. Do not give those Artful Dodgers your wallet
Less risk for more reward sounds unusual but our ‘likeables’ prove risk aversion is rewarded. Our
proprietary information given in charity empowers small investors to “save your own bacon.” But
you can be charitable. Consider paying-forward our charity by donating our usual 2&20 fee to
social charity. Good social and corporate works deserve15
your help building society’s wealth.
We seek accredited investors to advance what we have proven. Meanwhile enjoy our charity
providing TaxCharityTM and BookBuilderTM
portfolios as our public service, because we can. Use
our proprietary ‘likeables’ information for the small investor to save your own bacon. Set the
$topLosses indicated and get on with earning income from your business you know best. Expand
your portfolio. You are ready for riding through more waves from comic behaviours in politics
infused market gossip. Grow your wallet, ride those waves. You know how to work and save, so
“save your own bacon” with our ‘likeables.’ Accredited investors should use our 12% bond16
.
BookBuilderTM
Portfolios Update List – 30 September 2016
NYSE BookBuilderTM
‘likeables’ Firms
(30 November 2012)
Market
Price
Symbol SF
(Risk Price)
Stop/Loss
(See prior posts for early trading history)
Buy-ins 29feb16 *100 shares each
Achillion Pharmaceuticals Inc. ($8.2 stopLoss 24jun16) ACHN 2 5.9
First Horizon National Corp. ($13.6 stopLoss 14jun16) FHN:US 10 14.3
Gannett Company Inc. ($14.2 stopLoss 24jun16) GCI:US 12 10.2
Himax Technologies Inc. ($10.0 stopLoss 20apr16) HIMX:US 7 7.6

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Logitech International S.A. ($14.5 stopLoss 19may16) LOGI 8 20.2
Annaly Capital Management Incorporated 10.5 NLY 10 10.1
Wendys International Inc. ($9.6 stopLoss 16jun16) WEN:US 9 10.3
Buy-ins 31mar16 *100 shares each
Sirius XM Radio Inc. ($3.8 stopLoss 07apr16) SIRI 4 4.0
Buy-ins 30apr16 *100 shares each
Cosan Limited 7.15 CZZ 2 6.2
MBIA Inc. ($6.8 stopLoss 16may16) MBI 6 7.0
Buy-ins 31may16 *100 shares each
KCG Holdings Inc. ($13.1 stopLoss 29jun16) KCG 11 14.3
MFA Financial Incorporated 7.48 MFA 7 7.1
Buy-ins 30jun16 *100 shares each
Achillion Pharmaceuticals Incorporated 8.10 ACHN 2 5.9
Gannett Company Inc. ($11.5 stopLoss 09sep16) 11.50 GCI:US 12 10.2
Himax Technologies Incorporated 8.59 HIMX 7 7.6
International Game Technology 24.38 IGT 15 21.9
Two Harbors Investment Corporation 8.53 TWO 8 7.8
Windstream Corp 10.05 WIN 6 8.4
NYSE BookBuilderTM 2012 Portfolio *100
Shares (incl. Dividendsª) 30 September 2016 / 30 November 2012
10431.70 /5460.00 Gain 44.0
months
91.06%
IRR pa 18.40%
Net Cash Forward * 100 (after buy-ins 30apr16) 104.00
Net Cash * 100 (after stoploss sales) 1150.00
Net Current Cash Forward * 100 1254.00
Buy-ins 30sep16 *100 shares each SF
(Risk Price)
Stoploss
Ford Motor Co. 12.07 F 12 11.2
Net Cash Forward * 100 (after no buy-ins 31oct15) 47.00
Cash Dividends earned 522.70
Total Cash Available 569.70
NYSE BookBuilderTM 2012 Portfolio *100
Shares (incl. Dividendsª) 30 September 2016 / 30 November 2012
10431.70 /5460.00 Gain 44.0
months
91.06%
IRR pa 18.40%
Stop-loss settings intend to defend your capital from unusual negative market volatility in case of
such irrational market mavens’ pressures of Q3-2014 through Q1-2016. Irrationally volatile
swings occurred without regard for any reason, as stock prices sharply rebounded. Your capital
was defended by stoploss settings as intended but you must rebuild your portfolio with successive

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replacement buy-ins as shown. Staying in the market is the way to gain for the long term.
We had progressively tightened our stoploss settings to less than a standard deviation on a 52 week
rolling range17
of a stock’s price. That does incur an added ‘churn’ cost of buying after selling at
the triggered stoploss setting. That is a consequence of exercising capital safety. There are benefits
to doing that. Our ‘collaring options’ is preferred but takes our constant vigilance.
New NYSE 2013 Portfolio Buyins *100 shares
(31 August 2013 )
4397.00
(See prior posts for early trading history) SF
(Risk Price)
Stoploss
BAE Systems PLC ORD ($6.7 stopLoss 15jun16) BAESF:US 6 6.4
Frontier Comm. Corp. ($4.7 stopLoss 24jun16) FTR:US 5 3.5
Opko Health Incorporated 10.59 OPK 8 8.3
Sirius XM Radio Inc. ($3.8 stopLoss 07apr16) SIRI:NASDAQ 4 4.0
ShoreTel Inc. ($6.6 stopLoss 29apr16) SHOR 6 7.0
ZTE Corporation ADR (H Shares) ($2.8 stopLoss 05may16) ZTCOY:US 3 1.8
ARC Group Worldwide Incorporated 3.65 ARCW 2 0.9
Glencore Xstrata PLC ORD 2.75 GLCNF 2 1.8
ShoreTel Incorporated 8.00 SHOR 6 7.0
Advanced Micro Devices Inc. 6.91 AMD 4 5.6
SeaDrill Limited 2.37 SDRL 2 2.0
Sprint Nextel 6.63 S 3 5.7
Viavi Solutions Incorporated 7.39 VIAV 6 6.7
Buy-ins 31jul16 *100 shares each
VimpelCom Limited ADR 3.48 VIP 4 3.0
BookBuildersTM
2013 NYSE Current Portfolio
(including dividendsª) 30 September 2016 / 31 August 2013
5588.50 /4397.00 Gain 37.0
months
127.10%
IRR pa 8.09%
This result is far less than our expected long term tendency. However, it is cause for celebratory
hats and horns, gaining 9.68% this month, a ’likeables’ tendency. This portfolio has gone through
18 months of volatile and negative market behaviour, more than half of its interval. This portfolio
has demonstrated resilience even using the less effective stoploss regime. We know our pursuit of
using options to collar exit or holds guided by the Risk Price is more lucrative.

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Over these thirty plus months this portfolio confounds the performance of the hedge funds. This
portfolio has proven stunningly better result for the small investor, is vastly better than any fund,
bond or mortgage product the financial industry offers and always is liquid for the small
investor needing access to use their own wealth to help themselves or dear ones when need arises.
Net Cash Forward * 100 shares 31jan16 Buy-ins 3.00
Net Cash * 100 (after $toploss) 0.00
Net Current Cash * 3.00
(Risk Price)
Stoploss
n/a
Net Cash Forward * 100 (after buy-ins 30pra2016) 3.00
BookBuildersTM
2013 NYSE Current Portfolio
5588.50 /4397.00 Gain 37.0
months
127.10%
IRR pa 8.09%
(Pending Need for Change or investing new Savings)
Peoples United Financial Incorporated 15.82 PBCT:US 14 15.2
Smith & Wesson Holding Corporation 26.59 SWHC:US 20 22.6
Western Union Company 20.82 WU:US 16 19.6
BookBuildersTM
New NYSE 2014 Portfolio
Set 31 August 2014
4925.00
(Risk Price)
Stoploss
Astrotech Corporation 1.65 ASTC 2 1.2
Glencore Xstrata PLC ORD 2.75 GLCNF 2 1.8
Groupon Inc. 5.15 GRPN:US 3 3.9
Groupon Inc. 5.15 GRPN:US 3 3.9
Vale SA 5.5 VALE 3 4.6

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Ballard Power Systems Incorporated 2.21 BLDP 1 1.8
Banco Santander SA ADS 4.41 SAN 4 3.5
BookBuildersTM
(including dividends*) 30 September 2016 / 31 August 2014
4397.00 /4925.00 Gain 25.0
months
89.28%
Net Cash Forward * 100 shares 31jan16 Buy-ins 62.00
Net Cash * 100 (after $toploss sales) 0.00
Net Current Cash 62.00
(Risk Price)
Stoploss
n/a
Net Cash Forward * 100 (after buy-ins 31jan16) 62.00
BookBuildersTM
(including dividends*) 30 September 2016 / 31 August 2014
4397.00 /4925.00 Gain 25.0
months
89.28%
Fund managers were sitting on your money to fumble and lose it in their ‘Great Rotation’ into
bonds, a churn which did freeze into ill-liquid lower interest, less than inflation now, to be
discounted more later, like now, when sold to regain liquidity. For this they claim fees. They win
twice, so you lose twice, in their zero-sum game of, ”no crisis, no trades, no fees.” The pool of low
price point range of ‘likeables’ had been much reduced, and now is slowly increasing in number.
This portfolio started August 2014 seems an unwelcome outlier, dogged by its group of low price
‘likeables’ in a highly negative volatility range. We stay in the market, to resist loss and wait for
the rebound, always liquid. This portfolio made a nice jump up the past two months but has a long
hill to climb back up but only staying in the market can make that climb. This outlier has gained
17.16% through this quarter, since the end of June – NYSE, 3.69%, nothing like that.
The biggest mis-call of the market gossips ‘sky fall’ volatility drive back to zero is missing that
world gross production still exceeds world population growth by a factor of 3. The world economy
is growing18
. Consumers of high value added production remain consuming near 13 times more
than population growth in the Euro-American nations. That should be aligned if the world
economies were near stagnant. Gossip of weak consumer spending seem odd as mid-market store
sales revived. World GDP grew 0.7% first quarter, confirming outlook of 2.8% this year, NYSE is
out of touch with reality. “Price is not value,” confuses them19
. ‘Likeables’ are about value.

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High value added production of Chinese (Indian Bengal Bay peninsula and Indonesian archipelago
and others are not far behind) workshops to the world still exceeds the population growth of high
income nations buying high value consumer goods by a factor of 13. The rising aspirations of a
middle class consuming high value goods is being felt worldwide not just in the G8 economies.
Chinese domestic consumption from its household formations is its own internal problem, while
households’ formation buying durable goods in the rest of the developing world is still rising.
These factors are driven by patents technology and money rents paid to leading Euro-American
corporations. The Euro-American consumers’ appetites expressed as their GDPs are still rising at
more than quintuple their rate of population growth though a seventh of the world. Durable goods
needed to supply new households forming in Europe for war refugees rebuilding lives and
opportunities will stimulate welcoming economies. Employment is rising there as lately reported.
The five thousand year rivalry of tribal fiefs in their plundering for Middle East booty regardless of
religious spurs will spoil over oil decline as fuel is overtaken by innovating entrepreneurship. The
finest individuals of those fractious intrigues have escaped servility to seek their individual agency
among the developed economies giving refuge for their energy and range. Those that do not return
will spur innovation and growth in the receiving nations. The Middle East will be permanently
denied the human resource agency ‘Arab Spring’ was about. The amiable educated and more able
with finer dispositions will stay in refuge nation’s safety. The belligerents with short views return.
The greatest export of the occident to the world is the inspiration of individual agency that lies at
the core of capitalism. We trade our time and treasure to build value with our trading connections.
The creature of democracy inverted elite’s social role. Elites have instituted corporatism as their
avatar where outright plunder cannot.
We embrace the innovative when acting to our better angels, because that which can be made to
work will enhance us all, and opportunity for the few ‘conniving cousins’ to skim. We grant our
finances and licence to the architects of future business in their promise and our expectation they
will enhance our expectations. That is what lies at the core of capitalism.
The flow of ‘credit float’ we express to build those dreams ‘raises all our boats’ and why we
created the fictitious person, the corporation, as a society bears as public liability the costs of its
failure as we enjoy its success and promise. We invest in the hopeful return of a future income
coming from that inspired act of highest charity, investment, just as Maimonides encouraged, that
we might gain strength to earn our own way through that endeavour. His truth is inspired in the
conflation of cultures cooperative co-existence in medieval times.
These fundamentals driving international trade and macroeconomics the gossips are blinded from
seeing by their conventions. However as one pundit said, politics is all local, so is conventional
vision of economics, plagued by not seeing the larger view. Volatility will settle as these notions
make their corrective impact until market gossips find some other sky falling. As another pundit
reminded, Stay Calm and Carry On. Stick to our knitting and climb back. By our community of

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effort dark times always diminish.
Engage “Likeables” and save your own bacon.
Equities that tend to hold their value and gain are better than cash. We like risk aversion, Capital
Safety and Liquidity because we have proven that works, for low risk and high AlphaSmartTM
gains.
For small savings it is needful but arbitrary you stock your portfolio from the low price-point end of
"likeables" found in the market. These “likeables” are used in the BookBuildersTM
fitting criteria
for small investor portfolio needs. What is essential in your portfolios is that you buy a full
complement of at least eight or preferably more equities at any time. (We prefer equal blocks of
100 shares. That allows us 'collaring options' an aggressive exit strategy to maximize gains (instead
of passive stop-loss) as many “likeables” rebound so ‘collaring’ lets us hold through volatility and
earn more gains20
).
Do not expect perfect of Risk Price. Tendency for gain is not the same as pin-the-point on the mule
as most claim, encourage or seek. That is just child’s play. Let others chase the gamblers’
risk/reward model temptation. It is how you play the market with better information of corporate
value creation of worth, that does matter. Risk Price is what investors need to know. Risk aversion
comes of a diverse range of our “likeables” in your portfolio. Our proprietary “likeables”
information allows small investors to save your own bacon.
TSX 2012 BookBuilderTM
“Likeables”
Portfolio (set 30 November 2012)
Market
Price
Symbol SF
(Risk Price)
Stoploss
Algonquin Power & Utilities Corp. 12.21 AQN 9 10.9
Choice Properties REIT ($13.5 stopLoss 13sep16) 14.40 CHP.UN 10 13.0
Celestica Inc. ($13.0 stopLoss 06may16) CLS 10 12.8
Chartwell Snrs Hsg REIT ($14.7 stopLoss 16sep16) 15.86 CSH.UN 10 14.7
Guyana Goldfields Inc. ($7.7 stopLoss 25jul16) 7.70 GUY 3 6.6
Just Energy Group Inc. ($7.3 stopLoss 11aug16) 8.11 JE 6 5.8
Kirkland Lake Gold Inc. 11.15 KGI 6 9.7
NovaGold Resources Inc. ($7.7 stopLoss 22aug16) 9.08 NG 4 6.2
Atlantic Power Corporation 3.27 ATP 3 2.8
Eldorado Gold Corp. ($4.5 stopLoss 30aug16) 5.35 ELD.TO 4 4.0
NuVista Energy Ltd. 6.33 NVA 4 5.7
Lundin Mining Corporation 5.46 LUN 4 4.5
Western Forest Products Incorporated 2.14 WEF 1 1.9
.

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Portfolio Value
(including dividendsª) 30 Sept. 2016 / 30 November 2012
9431.30 /6391.00 Gain 46.0
months
47.57%
IRR pa 10.68%
Net Current Cash after 31jan16 Buy-ins *100 shares 12.00
Net Cash * 100 (stoploss sales) 4770.00
Net Cash for Buy-ins *100 shares 4782.00
(Risk Price)
Stoploss
Ballard Power Systems Incorporated 2.88 BLD 2 2.5
Heroux-Devtek Inc 13.16 HRX 9 11.7
Just Energy Group Inc. 6.65 JE 6 5.8
IAMGOLD Corporation 5.30 IMG.TO 2 4.3
Pengrowth Energy Corporation 7.33 NG 4 6.2
New Gold Inc. 5.69 NGD.TO 3 4.8
Silvercorp Metals Inc. 2.07 PGF 1 1.2
NovaGold Resources Inc. 4.19 SVM.TO 1 3.3
Net Current Cash after 31jul16 Buy-ins *100 shares 55.00
Portfolio Value
(including dividendsª) 30 Sept. 2016 / 30 November 2012
9431.30 /6391.00 Gain 46.0
months
47.57%
IRR pa 10.68%
Removal of ‘Quantitative Eating’ combined with oil and gas bloat made unusual down-side
volatility in all markets these past 22 months. To fuel that, older Greece and newer China issues
and then ‘Brexit’ added spooky gossip, a ‘sea-change’ of stoplosses were triggered. Commodities
went underground for no reason as the real economy just shrugged and carried on. The stock
market is driven by ‘expectancy’ behaviours, too great and too little, swings and roundabouts.
Balance sheets did not flip-flop. Portfolio managers did. Their expectations are unrelated to
‘fundamentals’ of value investing21
. Our tighter $toploss values reduced risk of loss. All of the
stocks in our public portfolios22
just rebounded. Most, still trading well above Risk Price can be
bought back for less. Take the ‘short-sell’ bonus and buy those back. We heard the ‘mooing’ as
higher employment spread through Europe due stagnant oil price; amid, Russian and Chinese
theatres of proxy conflict. Less gossip, more go-sip a tea on your break, gets things done, for you.
Collaring options we prefer using giving more gains but requires a lot more attention. Stoploss is
a simpler approach. Again we must rebuild for gain hopeful calmer markets will soon return.
Price has no mass - gravity like gossip fluctuates, apparently both being ‘dark energy’ forces.

“
Political shift to fuller renewal of infrastructure is now at forefront with income equality. All the
‘canards’ and other ‘Daffy’ ‘Donalds’ walk the political stage of this season while the real
economy slowly inches recovery forward, absorbing those persons’ abuse of ‘credit float’ in the
sea of moral hazard they had created. Manager avatars like ‘Donald’ have much to account for, in
tax court, but, stiffing your trading connections? Is Boris the vanguard for 46% rise in London
child homelessness23
and the ‘Brexit’ policy? Well, Boris blinked and went without a programme
to ‘fix-it’ as Jocks, Jordies and Taffs consider their walking out of even the United Kingdom.
The reality that ‘treacle-down’ never worked is roosting, as much as, austerity is impoverishing
in hard times when innovation and investment are needed to ‘credit float’ warranted investment
in valiant business processes and enterprises in the real economy. Austerity drains ‘credit float’
from worthy enterprises as otherwise add worth and wealth in their business process, making
‘money’ to put in our pockets and allocate as we wish or save in ‘likeable’ equities hopeful of
gain. Cash is better ‘cached’ into capital-creating ‘likeables’ equities, adding worth for you.
New TSX 2013 Portfolio Buyins *100 shares
Set 31 August 2013
6282.00
(Risk Price)
Stoploss
Buy-ins 31jan16*100 shares each
ATS Automtn Tool Systems Inc. ($9.8 stopLoss 03feb16) ATA 11 8.1
Choice Properties REIT ($11.7 stopLoss 08feb16) CHP.UN 10 13.5
Chorus Aviation Inc. ($5.1 stopLoss 10feb16) CHR.B 5 0.0
Intertape Polymer Grp Inc. 21.07 ITP 15 19.2
Just Energy Group Inc. ($8.8 stopLoss 10feb16) JE 6 7.3
NovaGold Resources Inc. ($7.7 stopLoss 22aug16) 9.08 NG 4 7.7
Buy-ins 29feb16*100 shares each
Extendicare Incorporated ($8.8 stopLoss 16may16) EXE 7 7.6
Guyana Goldfields Inc. ($7.7 stopLoss 25jul16) 7.70 GUY 2 6.5
Northland Power Inc. 24.53 NPI 15 22.1
OceanaGold Corporation 4.72 OGC 2 3.8
Premier Gold Mines Ltd. ($4.2 stopLoss 25aug16) 4.96 PG 1 4.2
Buy-ins 31may16*100 shares each
Dundee Precious Metals Inc. ($3.2 stopLoss 25aug16) 3.93 DPM.TO 1 3.2
Extendicare Incorporated ($8.0 stopLoss 06jun16) EXE 7 7.6
Buy-ins 30jun16*100 shares each
Advantage Oil & Gas Ltd. 8.26 AAV 5 7.6
Golden Star Resources Ltd. 1.03 GSC.TO 1 0.8
Buy-ins 30jun16*100 shares each

“
B2Gold Corp. ($3.3 stopLoss 31aug16) 4.09 BTO.TO 1 3.3
Silvercorp Metals Inc. 3.87 SVM.TO 1 3.0
New TSX 2013 BookBuilderTM
Portfolio
9486.30 /6282.00 Gain 37.0
months
51.01%
IRR pa 14.30%
Net Cash * 100 (stoploss sakes) 800.00
SF
(Risk Price)
Stoploss
Buy-ins 30jun16*100 shares each 5 0.9
Baytex Energy Corp. 5.57 BTE.TO 6 5.8
NovaGold Resources Inc. 7.33 NG 1 3.5
Premier Gold Mines Limited 4.04 PG 1 1.9
Western Forest Products Inc. 2.16 WEF 5 0.9
Net Current Cash after 30sep16 *100 share Buy-ins 0.00
New TSX 2013 BookBuilderTM
Portfolio
9486.30 /6282.00 Gain 37.0
months
51.01%
IRR pa 14.30%
(Pending Need for Change or investing new Savings)
Advantage Oil & Gas Ltd. 9.20 AAV 5 8.3
Choice Properties REIT 13.81 CHP.UN 10 13.0
Great Canadian Gaming Corp 22.84 GC 14 20.6
Hummin’ right along this spare bunch have gained
33.67% in 9 months this year, but, if you came
later to our games, 20.31% in the past 6 months,
16.40% in the quarter, (TSX Q3- 4.70%) that is a
nice, very nice, bunch of spare ‘likeables’
BookBuilderTM
New TSX 2014 “Likeables”
$5,000 Portfolio (31 August 2014 *100 share Buy-ins)
4871.00
(Risk Price)
Stoploss
Buy-ins 30nov2015 *100 shares each
Chorus Aviation Inc. ($5.4 stopLoss 11jan16) CHR.B 5 0.0

“
Kirkland Lake Gold Inc. 11.15 KGI 5 9.3
OceanaGold Corp. ($2.4 stopLoss 07dec15) OGC 2 3.8
Premier Gold Mines Ltd. ($2.5 stopLoss 18jan16) PG 1 4.2
Buy-ins 31dec2015 *100 shares each
Alacer Gold Corp. ($2.5 stopLoss 20jul15) ASR 2 3.0
Guyana Goldfields Inc. ($7.7 stopLoss 25jul16). 7.70 GUY 2 6.5
Lake Shore Gold Corp. (01apr16 TSR takesover LSG) LSG 1 1.7
NovaGold Resources Inc. ($5.5 stopLoss 12jan16) NG 4 7.7
Buy-ins 31jan16 *100 shares each
Chorus Aviation Inc. ($5.1 stopLoss 10feb16) CHR.B 5 0.0
BlackBerry Limited ($9.3 stopLoss 09feb16) BB 8 8.6
Western Forest Products Inc. ($1.9 stopLoss 03feb16) WEF 1 1.9
Advantage Oil & Gas Ltd. ($7.1 stopLoss 16jun16) AAV 5 7.6
Extendicare Incorporated ($8.8 stopLoss 16may16) EXE 7 7.6
Nevsun Resources Ltd. ($3.9 stopLoss 23jun16) NSU 3 3.9
Extendicare Incorporated ($8.0 stopLoss 06jun16) EXE 7 7.6
Golden Star Resources Ltd. 1.03 GSC.TO 1 0.8
Torex Gold Resources Inc. (1:10 split 05jul16) 2.70 TXG.TO 1 23.1
Fortuna Silver Mines Inc. 11.38 FVI.TO 4 9.1
Nevsun Resources Ltd. 4.32 NSU 3 3.9
NuVista Energy Ltd. 6.33 NVA 4 5.4
Eldorado Gold Corporation 5.35 ELD.TO 4 4.5
Wi-LAN Inc. ($2.0 stopLoss 14sep16) 2.38 WIN 2 2.0
BookBuilderTM
5588.80 /4871.00 Gain 25.0
months
14.74%
IRR pa 6.80%
Net Current Cash (after 29feb16 *100 share Buy-ins) 39.00
Net Cash * 100 (on stoploss sales) 770.00
(Risk Price)
Stoploss
Ballard Power Systems Incorporated 2.88 BLD 2 2.5

“
BookBuilderTM
(including dividendsª) 31 July 2016 / 31 August 2014
5911.70 /4871.00 Gain 23.0
months
21.37%
IRR pa 7.07%
This result is far less than our expected long term tendency using ‘collaring options’. However, it
is catching-up. That is cause for celebratory hats and horns. It is heading toward double digit
gain, as TSX enters waffling stage of ‘news’ in resources. This portfolio has gone through
volatile negative market behaviour its entire 2 year interval, with TSX still down at -1.57%. This
demonstrates resilience of our robust Risk Price driven methods even when using the less
effective stoploss regime. The modest ’short sell’ of not buying back at higher price than stoploss
has limited capital erosion during these negative times, while showing the long term tendency for
gain by staying in the market as it gyrates on gossip, dis-information and ‘news’.
Our options trading based on Risk Price indications testing the market is aggressive strategic
investing which needs prompt diligence filtering put/call offers in the options market, that takes
effort and time the small investor cannot or should not take from what they do best to earn their
incomes and save. Invest your savings with our Risk Price driven ‘likeables’ to earn income and
build your own wealth from our charity in sharing enough of our proprietary data for serving the
small investor building his own wealth. Accredited investors should buy StockTakers 12% Bond,
and, we will do the work, because we can.
Risk Price is about knowing more than the rest, more than conventional fundamentals offer to the
investor at any scale of portfolio. We know the pursuit of framing options to collar exit or holds
guided by the Risk Price is more lucrative. That takes too much attention for the small investor
who just wants to save and build wealth hopeful of gains better than inflation in the long term
and be liquid all the while, ready for difficult times when they need some ready cash, drawing on
their own wealth, for helping themselves or their dear ones. Stoploss does that passively, for you.
Engage “likeables” and save your own bacon.
The conventional investment industry cannot prove any of their assumptions underlying their
methods, whose results are 1.03:1, like24
a coin toss. Avoid those Artful Dodgers playing dice with
your wallet. Investors need a real compass25
. Risk Price shows their way. Our TaxCharityTM
gives
proof. In the spirit and tradition of real science of Bacon and Newton we feign nothing; our

“
demonstrations are in real time with real consequences obtaining real benefit to investors’ wallets,
because we can.
In our Modal Geometry theory of the firm we make only two assumptions, clearly as follows:
1. there is a balance sheet of the firm (that the rule of law governs its information is possibly
weak assumption but at an accuracy to at least the modest degree accountants are prepared
to be responsible for); and,
2. the firm will vigorously negotiate, “what it owns” (in order to stay in business “what is
owed to it” with “what it owes” and vice versa, to make the best of what it has, that is in its
trading connections).
The Modal Geometry theory of the firm has unfolded more by rigourous observation in the real
world of corporate ledgers relation to balance sheets. That is aided with logic, epistemology, and
some powerful mathematics, real science, not conventional assumptions with little relevance but
gossip.
Our reasons for having any equity in our portfolios are clear, concise and consistent. “likeables” are
equities shown valued by investors, tending to continuing gain, which investors have demonstrated
a determination to buy and hold at stock prices above the Risk Price. “AlphaSmartTM
gains, Capital
Safety and Liquidity” are consequences we obtain through risk aversion that our Risk Price
enables. That is proven.
Proof is positive, in our TaxCharityTM
and BookBuilderTM
portfolios, extending our proprietary
information to small investors. The BST-Solo50KTM
and ABC-ZsTM
suit larger wallets. Because
we can, while the entire financial industry is so busy blowing bubbles26
with cash from your wallet.
Know What You Have. Have What You Know.
Our risk averse view works. The proof of our method is clear and forthrightly shown. Of course we
require 2&20 fees for doing that, or utilize our StockTakers 12% Bond. Mail us for your wealthy
helping of what we can do for you. Because we can. You have proof.
It is the price of risk27
because that’s the price at which we can reasonably expect to get our money
back with a possible and hopeful return that exceeds the rate of inflation. That proof is here in your
hands, as we continue to show as above, because, we can.
Know What You Have, and only, Have What You Know.
Our view is risk averse. Of course we require 2&20 fees for doing that. Mail us for our help.
Hans Goetze,
Architypes Inc. architypes@gmail.com and StockTakers Limited

“
Head Office
76 351 Chemin Boulanger
Sutton, PQ
J0E 2K0
450 538-1270
647-608-2176
1
http://riskwerk.com/2012/06/05/economics-is-confusing/
2
http://riskwerk.com/2015/08/27/pi-extreme-economics-the-worlds-bubble-wrap/
3
https://riskwerk.com/2016/06/16/bn-the-w-syndrome/
4
http://www.slideshare.net/HansGoetze/the-grail-and-the-goat-portfolios
5
‘Father’ of Modern Portfolio Theory, Peter L. Bernstein, became disaffected realizing it was exposing investors to risk
while productive way for making the professionals a living http://www.e-m-h.org/Bernstein1999.pdf
6
E. Goetze,“The Modal Geometry of the Firm and the Balance Sheet Worth of the Trading Connections”, 2006
7
http://riskwerk.com/2012/09/22/popovicius-volatility/
8
http://www.economist.com/news/leaders/21676767-entrepreneurs-are-redesigning-basic-building-block-
capitalism-reinventing-company?cid1=cust/ednew/n/n/n/20151022n/owned/n/n/nwl/n/n/n/email
9
http://www.slideshare.net/HansGoetze/orienteering-among-magpies
10
banks have paid nearly $230 billion in litigation costs since 2009 http://www.reuters.com/article/2015/01/13/us-
banking-litigation-research-idUSKBN0KM10G20150113
11
http://www.marketwatch.com/story/only-a-black-swan-will-bring-back-stock-volatility-2014-05-18 These
Goldilocks and the Black Swans are confused by the tales even the VIXens siren to investors.
12
http://www.slideshare.net/HansGoetze/medieval-diet
13
http://www.economist.com/news/leaders/21676767-entrepreneurs-are-redesigning-basic-building-block-capitalism-
reinventing-company?cid1=cust/ednew/n/n/n/20151022n/owned/n/n/nwl/n/n/n/email
14
https://riskwerk.com/2016/06/16/bn-the-w-syndrome/
15
http://www.slideshare.net/HansGoetze/the-corporate-social-on-our-best
16
http://www.slideshare.net/HansGoetze/stocktakers-12-bond
17
http://riskwerk.com/2012/09/22/popovicius-volatility/
18
http://www.economist.com/news/china/21701505-chinas-foreign-policy-could-reshape-good-part-world-economy-our-
bulldozers-our-rules?cid1=cust/ednew/t/bl/n/20160630n/owned/n/n/nwl/n/n/n/n
19
https://riskwerk.com/2013/08/07/the-god-stock-econo-speak/
20
http://riskwerk.com/2013/05/03/the-sp-tsx-hangdog-market/ ; http://riskwerk.com/2013/05/21/the-sp-tsx-
hangdog-market-2/ ; http://riskwerk.com/2013/08/10/the-sp-tsx-hangdog-market-3/
21
https://en.wikipedia.org/wiki/The_Intelligent_Investor
22
http://riskwerk.com/2013/05/18/the-real-intelligent-investor/
23
http://www.homeless.org.uk/connect/news/2015/dec/17/latest-homelessness-numbers-underline-desperate-need-to-tackle-
housing
24
http://www.slideshare.net/HansGoetze/the-grail-and-the-goat-portfolios on North American markets the combined
average result of ‘managers’ investment models is 1.03:1, statistically no better than monkeys tossing coins or dice as compared to
Risk Price driven ‘likeables’ portfolio showing 2.28:1 of the equities gain for long periods, the rest is ‘gardening’
25
http://www.slideshare.net/HansGoetze/orienteering-among-magpies
26
http://riskwerk.com/2013/10/14/asset-bubbles-day-october-14-2013/
27
http://riskwerk.com/2012/08/26/the-price-of-risk/

BookBuilderTM 30sep16

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