​​​With the advent of the internet, investors are swamped with information on public companies and recommendations on which company you should buy now, or which company you should sell, based on a wide variety of market signals and other information, most of which are completely irrelevent to the serious investor.

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I have tried various sources of financial information for public companies, but I find that the Value Line Investment Survey (VLIS) reports, are the  most convenient source of historical financial information. A subscription to the Value Line is relatively expensive, for most independent investors, with small portfolios. However, you should be able to access Value Line reports, through your local library if they have a subscription. 

 

The VLIS coverage universe includes about 1700 public companies, the majority being headquartered in the U.S. However VLIS issues analyst reports for about 80 Canadian companies, all traded on the Toronto Stock Exchange.  A VLIS report for BCE Inc, is presented below as an example of format of a typical report. VLIS provides a guide, with each subscription, which explains how to interpret the financial information presented in the reports.

 

The Canadian companies covered by VLIS include most of the largest companies, in each sectors of the economy, including banking, transportation, technology, communications, mining, petroleum and utilities. If, as suggested, you limit the number of holdings to a maximum of about 15, the VLIS universe provides reports on many potential candidates. If you wish to have a larger pool of candidates, VLIS covers most of the mature, financially stable,  American companies.

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Once you have decided to invest in shares of a particular company, you should read a selection of their annual reports for previous years, so that you are familiar with the company's management, operations and plans for the future. In particular you should review the company's previous record of dividend payments.

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