Bull & Bear’s

January-February 2017 VOL. 15 NO. 9

INSIDE...Ways to EarnExtra Cash in 2017Cash-generating ideas that will help you fatten your wallet in the year ahead & plenty of legitimate moneymaking opportunities for you to capitalize on at your convenience during 2017.

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InvestmentNewsletter DigestSolid Buy/Sell advice from the world’s top-performing market timers. Invest-ment experts reveal which stocks to buy and sectors to play now for maximum gains in 2017...recommendations for Small-Mid-Cap Stocks, Emerging Situ-ations, Turnaround Situations, and more.

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Top Stock Picks 2017…General ElectricTechnically, GE’s stock price has recov-ered nicely since the recession... There’s still lots of potential upside.

Cisco SystemsCisco completed timely acquisitions, yields 3.5% and has the cash flow and balance sheet strength to back growing shareholder payments into the future.

General MotorsWhen you buy a stock paying a dividend over 4%, you can afford to be patient and wait. Dividend expected to be safe for the foreseeable future.

Against a backdrop of change unfolding within an essentially sound economy, you’ll do best by favoring stocks over bonds, zeroing in on companies with strong long-term growth trends and rising dividends, and by finding sectors that will prosper with Donald Trump in the White House, says Anne Kates Smith, senior editor at Kiplinger’s Personal Finance magazine, www.Kiplinger.com.

For the market to deliver even modest gains, the graying U.S. economic expansion – like the bull market, turning eight in

2017 – must soldier on. Kiplinger expects gross domestic product to expand by 2.1% in 2017, up from an expected 1.5% in 2016.

Although investors in the U.S. need to broaden their horizons, those looking to buy shares in, say, Europe or Japan may have to hold their noses. “Europe looks uninspiring, and Japan looks just awful,” says Sarah Ketterer, CEO of Causeway Capital, and investment firm that specializes in foreign markets. So, she says, it’s a great time for patient investors

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Where to Invest

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When budgets tighten up and extra costs have eaten into your usual monthly expenses or have added to your credit card debt.

What to do? There are plenty of legiti-mate moneymaking opportunities for you to capitalize on at your convenience during 2017. Some are simply good for a fast buck, while others could turn into consistent streams of income. Bob Niedt, online editor at Kiplinger.com, suggests these cash-generating ideas that will help you fatten your wallet in the year ahead.

Sell Unwanted ElectronicsSurely, you’re planning to up-

grade your tech gadgets and toys after this holiday season. Don’t leave smart phones, tablets, com-puters or game consoles you’re no longer using in a desk drawer or the back of a closet. You can easily cash in on your unwanted electronics – even damaged items – by selling them online.

Sell used smart phones and Apple products at Gazelle.com and get paid by check, PayPal or an Amazon gift card. GameStop.com pays cash for smart phones, digital cameras, tablets, game consoles and more. You can sell smart phones, tablets, laptops and video games to NextWorth.com for cash or take items to one its partner stores, such as Target, and get store credit. At uSell.com, you can sell smart phones, tablets, game consoles, video games and textbooks. You get paid by check or through PayPal. Shipping with all of these sites is free.

Search for Unclaimed Property

Federal and state coffers hold billions of dollars’ worth of unclaimed property. Some of it could be yours, but it’s up to you to track down the cash.

The feds hang on to tax refunds that are returned to the IRS

because of mailing-address errors or that are never claimed by taxpayers because they didn’t file returns. The government also holds on to forgotten savings bonds, government-guaranteed mortgage-insurance refunds and government pensions that were never claimed. State governments hold onto uncashed dividend checks, returned utility deposits, unclaimed state-tax refunds and uncollected insurance benefits, among other things. (If a bank or other payer doesn’t have your last known address on file, it will turn over your money to the state in which the institution is incorporated.)

Anyone can search a state’s unclaimed property database (go to www.naupa.org for links) or go to www.missingmoney.com to search 39 states’ databases at once. In Canada, you can search for unclaimed bank balances at www.BankofCanada.ca.

Tutor or TeachIf you have a special skill –

whether it’s the ability to play an instrument well, paint like Picasso or explain calculus in a way anyone can understand – you may be able to make money sharing it with others. For example, you could earn about $15 to $30 an hour tutoring individual kids or college students if you speak a second language or have great math, science or writing skills.

Advertise your services on

school, campus and community bulletin boards, or tutoring web sites such as Wyzant.com and Tutor.com. And take advantage of social media sites, such as Facebook, to let people know

about the lessons you’re able to teach.

How about substitute t e a c h i n g ? G r a d e

schools and high schools nationwide are looking for peo-ple to substitute teach – and some have outsourced

the hiring process. Source4Teachers.com,

a Cherry Hill, N.J.-based K-12 educational staffing firm, works with more than 220 school systems across the Northeast to fill substitute teacher and other staffing positions.

“We fill a lot of nonteaching roles that don’t require certifi-cation, filled by people who are maybe getting their feet wet, seeing if they want to pursue a teaching career,’’ says Owen Mur-phy of Source4Teachers. It varies by state and school district, but some don’t require substitutes to have teaching certification. Pennsylvania, for example, allows people with a bachelor’s degree to apply for one-year emergency cer-tification to substitute. In Canada, you can search EducationCanada.com, Canada’s largest educational e-recruitment resource network.

Often teachers look to take some days off for many reasons, so there could be plenty of sub jobs out there for you to earn extra cash.

Pay varies by district, but substitute teachers can make between $90 and $120 per day. Teaching-certified substitutes make about $20 more per day than non-certified subs, says Murphy.

Get Paid for Your Opinions

Hey, it’s one thing to spout off your opinions to family and friends. Why not get paid for it? Market-research firms are hired by big businesses to get inside the

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Ways to Earn Extra Cash in 2017

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heads of consumers. Participation in an in-person focus group led by a moderator, such as those run by FocusPointeGlobal.com, can earn you between $50 and $200.

In exchange for taking online and phone surveys, firms such as The Harris Poll and Inspired Opinions offer rewards points redeemable for gift cards and merchandise. Beware scams, though. Legitimate firms won’t charge a fee or ask you to cash a check and wire back part of the money.

Lawyers are getting in on the act, too. “Online jurors” can earn cash for giving their opinions on legal cases. EJury.com pays $5 to $10 per case. You’ll need a PayPal account. At OnlineVerdict.com, where fees start at $20, payment is made by check.

Join a Street TeamThe weather outside may be

frightful, but street teams still need energetic, outgoing help-ers to promote products, films, albums, events and more by handing out samples, interact-ing with people on the street, or dressing as mascots. To get a job earning $20 to $25 an hour, sign up with a company such as StreetTeamPromotion.com which handles promotions in big cities nationwide. Make sure you get a contract that specifies when you’ll get paid.

Be a BabysitterBabysitters are always in high

demand. Babysitting can be a fun way to put money in your pocket if you like kids. In big cities such

as New York and Washington, expect to earn up to $20 an hour as a babysitter or nanny. (In small and midsize cities, the going rate is closer to $7 to $10 an hour.) Advertise your services on community bulletin boards, the public library or houses of worship. You can also place a listing or search for jobs on sites such as Care.com and Sittercity.com.

Walk DogsWhy not get a little exercise

while you earn anywhere from $15 to $30 an hour? Working folks will pay plenty for you to take Rover or Scruffy on a daily stroll while they’re at the office or busy getting ready for the holidays. Or consider pet-sitting for people while they’re traveling for pleasure or business for a daily fee of $50 or more. Advertise your services in veterinarians’ offices and on Craigslist.

You can also team up with an existing dog-walking operation that handles client recruitment and scheduling. To find one, ask other dog walkers you encounter whether they’re part of a group or check Craigslist.

Cash in On Unused Gift Cards

I like (almost) nothing better than getting gift cards for birth-days, holidays, etc. But did you know: About $44 billion worth of gift cards has gone unused over a six-year period, according to gift card resale site Gift Card Granny ($750 million in 2014 alone, ac-cording to advisory company CEB TowerGroup). So grab the unwanted cards you have lying around your house, and turn them into cash by selling them online at sites such as Gift Card Granny, Cardpool and Junkcard. You won’t get the full value of your card (up

to 92% at best). But if you have no intention of using the card, it’s like getting free money. Cards for gas stations, grocery stores and retail chains (such as Exxon, Safeway and Wal-Mart) often bring the best offers.

Drive Other PeopleIf you’ve ever found yourself

in need of a quick ride, you may have turned to Uber, the anytime, anywhere ride service that has gained popularity over the last several years. But have you ever considered becoming an Uber driver? If you are at least 21 years old, own a car made after 2000 or 2005 (depending on the city), and pass background and driving checks, you could earn cash by driving people around in your free time. According to Uber, drivers’ average earnings per hour are about $19. But don’t forget to factor in the costs associated with using your own car, such as gas, maintenance, insurance and cleaning.

Uber’s competitor Lyft says its drivers earn up to $35 per hour. Like Uber, Lyft has age, vehicle and background-check requirements for drivers.

Perform Odd Jobs and Small Tasks

At Fiverr.com, an online com-munity of freelancers, you can advertise your proficiency in skills such as writing and translation, video and animation, and adver-tising. As Fiverr’s name indicates, your services sell starting at $5 a pop, and you have the option of adding ancillary services to make more money. Fiverr keeps 20% of customer payments, meaning you earn $4 from every $5 in services you sell.

For more intensive jobs try joining TaskRabbit. If you live in or near one of 19 cities

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Earn Extra Cash in 2017

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currently served by the site, you can perform tasks such as waiting in line for someone, running errands or lifting heavy items. Set your own fees with TaskRabbit, which will keep 15% to 30% of the transaction.

Participate in Clinical Trials

If you’re willing to be a human guinea pig, you can pad your pockets by participating in clinical research trials. Compensation depends on the nature of the trial and the amount of time involved, but payment can range from $50 to more than $1,000, according to the Center for Information and Study on Clinical Research Participation.

Legitimate studies are spon-sored by medical institutions and pharmaceutical companies. You’ll be required to undergo a health screening to determine if you’re eligible to participate. Come-ons for clinical trials litter the Inter-net. Many are scams. The safe play is to peruse studies that are actively recruiting participants at ClinicalTrials.gov, a database run by the National Institutes of Health. Search by location to identify local trials.

PaidClinicalTrials.org is a uncompensated, federally and privately supported clinical trials conducted in the United States and around the world

Another cash earning source is GlobalTestMarket.com designed to give you the opportunity to get paid for directly influencing global market research.

Sell Gently Worn ClothingIf you or your family members

have brand-name clothing, ac-cessories or shoes that are in good condition but no longer being

used, turn them into quick cash by selling them on consignment. Re-search the consignment shops in your area to find the right match for the types and styles of clothing you have to sell. Most consignment stores will price items at one-third of their retail value, and you’ll likely get 50% of the price at which your items eventually sell. And, with people looking for discounted attire, you may have a good chance of making a sale.

You might be able to get more for your used clothes by selling them online. For example, you can earn up to 80% of the resale value of women’s and kids’ clothing, shoes and handbags at fashion resale site thredUP.com. If you have high-end men’s and women’s clothing, jewelry, watches and accessories, try your luck with luxury consignment site www.TheRealReal.com. You earn up to 70% of the resale value in cash.

Or skip the middle-man and sell your used clothing on eBay, which will require more effort on your part but could result in a bigger return.

Be a Tour GuideIf you know a lot about the city

where you live, you may be able to profit from your knowledge by guiding tours – especially during a holiday travel season. For example, travel guide site Vayable lets anyone list a tour or experience that tells a unique story about a destination – from its art to its history to its food – and earn money from bookings through the site. U.S. tours that are promoted on Vayable – such as a San Francisco street-art tour or a Washington, D.C., White House tour led by a member of the White House press corps – range in price from about $25 per person to $200 per person, though more-upscale experiences are priced even

higher. Vayable takes a 15% cut of whatever you choose to charge travelers and provides online tools to manage reservations, accept credit-card payments and securely communicate with customers.

If you live near an historic site overseen by the National Park Service, you could become a licensed guide. For example, the Licensed Battlefield Guides of Gettysburg, the Pennsylvania site of one of the greatest battles of the American Civil War, are licensed and regulated by the National Park Service and are the only individuals legally allowed to conduct visitors around the national park for a fee. Rates for a two-hour basic battlefield tour range from $55 to $120 depending on group size, with prorated fees of $27.50 to $60 per hour for additional time. Tips are not required but often given.

Are you a runner? Consider earning extra bucks as a running tour guide. City Running Tours – “sweat and sightsee simultane-ously” – is one company offering “sightrunning” (it’s a thing) ser-vices in 13 (and counting) U.S. cities, including Washington, D.C., and Honolulu. The company offers personalized or group tours. Tips aren’t required, but permitted.

“Our tour guides make on aver-age about $20-$25 per tour plus incentives based on seniority, type of tour, distance, number of participants, referrals and posi-tive reviews,” Michael Gazaleh, president and CEO of City Run-ning Tours, tells Kiplinger.

Sell Excess FurnitureIf you have an attic, garage or

storage unit filled with furniture you’re not using, unload those items for extra cash by selling them on Craigslist. (You might even end up saving the monthly

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Fidelity Active Trader Pro® helps traders:

CVL INDIVIDUAL (X12345678)

17.45-0.03 (-0.17%)

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Stocks to Watch

THE LANCZ LETTER2400 N. Reynolds Rd., Toledo, OH 43615. 1 year, 15-17 issues, $295. www.LanczGlobal.com.

Favorites for 2017Alan Lancz: “Our Favorite for 2017 is an old

favorite that is out-of-favor, very similar to our 2016 favorites one year ago. In addition, our 2017 favorite also has solid total return potential, no matter what the market does. CenturyLink, Inc. (CTL $23.78) is down 31% for 2016 and trades well below book value at levels not seen since 2010, yet has positioned itself well with its agreement to acquire Level 3 Communications, Inc. into the new year.

Wall Street does not understand the merits of this acquisition for CTL, which presents an excellent opportunity to buy a quality company yielding 9.1%.

For investors seeking more global exposure in telecoms, we favor Vodafone Group Plc (VOD $24.43), which is also trading at multi-year lows, has an impressive yield at 5ó% annually, and is a leader in the growing emerging markets, which bodes well for their 3-5 year growth prospects.

Hanesbrands Inc. (HBI $21.57) continues to trade at bargain levels for the long-term, despite continuing to pay down debt while integrating recent international acquisitions. This should improve growth prospects into 2017 and beyond. Finally, as a hedge to the euphoria coming over most investors, we added Goldcorp (GG $13.60) to our previous recommendations of Barrick Gold and Newmont Mining from last month near their respective lows.”

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HENDERSHOT INVESTMENTS11321 Trenton Ct., Bristow, VA 20136. 1 year, 4 issues, $50. www.hendershotinvestments.com.

Long-term investors seeking a java jolt should sip Starbucks

Ingrid Hendershot rates Starbucks (SBUX) a “Buy”. SBUX is the premier roaster, marketer, and retailer of specialty coffee worldwide, operating in 75 countries. The company operates in four segments: Americas; Europe, Middle East, and Africa; China/Asia Pacific; and Channel Development. Its stores offer coffee and tea beverages, packaged roasted whole bean and ground coffees, single-serve and ready-to-drink coffee and tea products, juices, bottled water and fresh food products.

Strong BrandsStarbucks, named after the first mate in Herman

Melville’s Moby Dick, is a whale of a success story. From a single store in Seattle’s Pike Place Market in 1971, the company now operates more than 25,000

stores in 75 countries around the globe. Starbucks’ well-recognized logo is also inspired by the sea, featuring a twin-tailed siren from Greek mythology.

The Starbucks’ flagship brand is one of the world’s most recognized and respected brands. The company has successfully built a great and enduring brand that strikes a balance between profitability and social conscience, which attracts a growing and loyal consumer base.

The company’s brand portfolio has expanded over the years and now also includes Teavana and Tazo teas, Seattle’s Best Coffee, Evolution Fresh juices, Frappuccino and La Boulange bakery items.

Fiscal 2016 ResultsTo cap off a record fiscal year, Starbucks reported

a record fourth quarter with sales perking up 16% to $5.7 billion, net earnings up 23% to $801 million and EPS up 26% to $0.54. The U.S. comparable store sales increase of 4% was comprised of a 6% increase in average ticket and a 1% decrease in traffic. After adjusting for the estimated impact of order consolidation related to the new Starbucks Rewards™ loyalty program, average ticket grew 4% and traffic grew 1%.

Bucking the contracting brick and mortar trend, Starbucks opened 690 net new stores in the quarter, bringing total stores to 25,085 in 75 countries worldwide. Mobile Order and Pay represented 6% of U.S. transactions in the quarter, up from 5% in the prior quarter.

For the full fiscal 2016 year, Starbucks rang up fragrant sales of $21.3 billion, up 11% over the prior year. Global comparable store sales grew 5% driven by a 4% increase in average ticket and a 1% increase in the number of transactions.

Fiscal 2016 operating income increased 16%, thanks to operating margin expansion of 80 basis points to 19.6% driven by sales leverage and lower commodity costs. Earnings per share for fiscal 2016 increased to $1.90 and included $0.06 per share for the extra week in fiscal 2016. Fiscal 2015 EPS was $1.82 and included $0.26 per share from the gain on the fair value adjustment of a preexisting equity interest in Starbucks Japan upon acquisition.

Return on shareholders’ equity for the year was a highly profitable 48%.

For the full year, Starbucks opened 2,042 new stores, up 22% from last year, including 981 new stores in the fast-growing Asia Pacific region. Company-owned stores accounted for 51% of total stores with licensed stores representing the remaining 49% of stores.

Excellent Cash FlowsDuring fiscal 2016, Starbucks brewed up a 28%

gain in free cash flow to more than $3.1 billion. The company returned $3.2 billion to shareholders during fiscal 2016 through share buybacks of $2 billion and dividends of $1.2 billion.

Starbucks recently announced a 25% increase in the dividend for fiscal 2017 to an annualized rate of $1.00 per share. Starbucks ended the fiscal year with more than $3.4 billion of cash on its robust balance sheet.

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Fiscal 2017 OutlookManagement expects continued strength in

revenue, operating margin and EPS in fiscal 2017 as they open new stores and enhance the mix and type of stores in their portfolio, including the development of their Global Roastery and Starbucks Reserve branded stores. In fiscal 2017, Starbucks expects to open about 2,100 net new stores globally. Comp store sales are expected to increase in the mid-single digits. Double-digit revenue growth is expected in fiscal 2017 with EPS in the range of $2.09 to $2.11. Long-term investors seeking a java jolt should sip Starbucks, a HI-quality company with strong brands, excellent cash flows and the prospect for solid growth in fiscal 2017. Buy.”

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DOW THEORY FORECASTS7412 Calumet Ave., Hammond, IN 46324. 1 year, 52 issues, $279. www.dowtheory.com.

CBS shows off growth channelsRichard Moroney: “CBS (CBS; $63) is making a

habit of market leadership. The broadcaster kicked off the fall TV season with the No. 1 new drama, Bull, and the No. 1 new comedy, Kevin Can Wait. Through Dec. 11, CBS led all television networks in prime-time ratings, reaching more than 7.6 million households, according to Nielsen.

Of course, the TV business has grown far beyond weekly shows. Secondary revenue sources include online and other digital-viewing platforms. In the September quarter, CBS’ streaming revenue jumped 40%. Advertising accounted for about half of CBS’ revenue in the nine months ended September, with content licensing and distribution (26%) and fees from affiliates and subscribers (21%) contributing the rest.

Concerns about the Redstone family’s control of roughly 80% of CBS’ voting shares hang over the stock. However, the company’s growth seems to have quieted critics – the shares have risen 13% over the last year, a period when CBS grew its per-share profits 24% and operating cash flow 29%. The consensus projects profit growth of 22% in the December quarter and 8% next year – a solid target considering the likely spin-off of a radio unit. We are upgrading CBS to the Focus List. The stock is also a Long-Term Buy.

Program LineupThe entertainment unit (60% of revenue in the

nine months ended September, 44% of operating income), which includes U.S. and global broadcast networks, production studios, and online properties, delivered revenue growth of 8% and profit growth of 21% in the first nine months of 2016. CBS Television Network distributes content through more than 200 U.S. affiliate stations. Top-rated shows include NCIS, Bull, 60 Minutes, and Blue Bloods. CBS has 13 of the 25-top-rated programs, and the three highest nonfootball shows.

Key growth drivers for the future include Internet streaming; CBS already partners with Netflix (NFLX; $131), Amazon.com (AMZN; $795;), and Comcast (CMCSa; $72). Competition and creativity abound in the digital-TV world, and CBS’ strong ratings and global footprint have it positioned to grab a big piece of future initiatives by both its existing customers and companies nobody has heard of – yet.

CBS’ cable business (29% of revenue, 26% of earnings) includes the popular Showtime and CBS Sports networks. Cable operations and the Simon & Schuster publishing unit (5%, 3%) are not likely to drive CBS’ growth in coming years.

Local television stations (12%, 16%) and radio (8%, 8%) round out CBS’ businesses. The company plans to spin off its radio operations into a publicly traded company next year.

Switching ChannelsIn recent months, CBS has commanded the wrong

kind of headlines, as the Redstones dealt with an executive power struggle and considered a merger with former parent company Viacom (VIAb; $39). However, deal talks ended earlier this month, hopefully refocusing investors on CBS’ investment appeal.”

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INVESTMENT QUALITY TRENDS, 2888 Loker Ave. East, Ste. 116, Carlsbad, CA 92010. 1 year, 24 issues, $310 (print). Online, 1 Yr/$265www.iqtrends.com.

Timely Ten undervalued stocksKelley Wright: “The Timely Ten is not just another

“best of, right now” list. Rather, it is our reasoned expectation based on our methodology and experience that these ten currently Undervalued stocks offer greatest real total-return potential over the next five years.

Do we believe that all 10 will appreciate simulta-neously or immediately? Of course not. Our five-plus decades of research and experience, however, leads

Micro/Small-Caps • Buy-Sell Technical • Fundamental Market Timing

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us to believe that these stocks, purchased at current Undervalued levels, are well positioned for both growth of capital and income.

Traditionally we recommend that all investment considerations begin with the following criteria: Stocks from the Undervalued category; An S&P Quality Ranking of A- or better; A “G” designation for exemplary long-term dividend growth; A P/E ratio of 15 or less; A Payout Ratio of 50% or less (75% for Utilities), Long-term debt-to-equity of 50% or less (75% for Utilities).

For The Timely Ten we add these metrics to our investment considerations: A Return on Invested Capital (ROIC) of 10% or greater; A Free Cash Flow Yield (FCFY) of 5% or greater; A proprietary Price to Value Ratio (PVR) between 0 and 1.6 where the lower the number the better.

For The Timely Ten we add these metrics to our investment considerations: A Return on Invested Capital (ROIC) of 10% or greater; A Free Cash Flow Yield (FCFY) of 5% or greater; A proprietary Price to Value Ratio (PVR) between 0 and 1.6 where the lower the number the better.

The current Timely Ten selections and their yields are: 1) Target Corp. (TGT) yielding 3.09%; 2) American Express (AXP) yielding 1.73; 3) CVS Health (CVS) yielding 2.12%; 4) Wal-Mart Stores (WMT) yielding 2.79%; 5) Philip Morris Int’l (PM) yielding 4.52%; 6) Gap Inc (GPS) yielding 3.61%; 7) Franklin Resources (BEN) yielding 1.80%; 8) T. Rowe Price (TROW) yielding 2.83%; 9) Omnicom Group (OMC) yielding 2.49%; 10) TJX Companies (TJX) yielding 1.33%.”

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THE TURNAROUND LETTER1212 Hancock St., Ste. LL-15, Quincy, MA 02169 Monthly, 1 year, $195. www.TurnaroundLetter.com.

Buy some TimeGeorge Putnam, III: “Time, Inc. (NYSE: TIME)

is one of the world’s largest print and digital media publishers, with a portfolio of over 100 iconic magazines including Time, People, Sports Illustrated and Travel & Leisure. Founded in 1922, its monthly global print audience is over 120 million readers, and it receives over 150 million visitors to its various websites. In 2014, Time was spun-off from its namesake parent Time-Warner, as that company was looking to focus on its video-oriented TV and film businesses.

Despite its roster of highly valuable brands, Time has struggled to adapt to today’s Internet-based media and entertainment environment. Revenues are about 8% lower than their 2013 level as subscription sales (about 31% of revenues) have declined 15%. Advertising sales (just over half of revenues) are down over 5%. Digital content revenues are increasing, but this growth isn’t yet large enough to offset the print declines. While Time has cut costs, spending on digital-based operations could more than offset further belt-tightening. Investors are also worried

that management will squander its strong cash flows. Time’s stock price is approaching its all-time lows, nearly 45% below its spin-off price. Investors appear to have given up on the media giant.

Analysis: Several important changes at Time greatly improved its outlook. A new CEO, Rich Battista, took the helm in September. Battista led the impressive turnaround-and-sale of Gemstar-TV Guide, and brings extensive media experience. Moving quickly, he replaced the CFO and promoted the head of digital to the new role of chief operating officer.

Providing further pressure to improve Time’s strategy, execution and capital allocation is JANA Partners, one of the more respected activist investors. JANA recently took a 5% stake in Time. The new executive leadership combined with the presence of an activist shareholder provides a lot of encouragement that the company will soon begin to generate more value from its iconic brands.

The financials look very solid. Time produces strong cash flows (about $180 million/year after dividends) and has a low level of debt at $1.2 billion, which is partly offset by $389 million in cash. The large net loss in 2015 resulted from a goodwill write-down, not from any operational losses. Valuation is steeply discounted at 5.5x EBITDA and 11.2x this year’s expected earnings. The $0.76/share annual dividend looks well-covered and provides a generous 5.8% yield. We think the time is ripe to look at Time, Inc.

We recommend buying TIME up to 21.”Editor’s Note: Edited by George Putnam, III for over 30 years,

The Turnaround Letter purchase recommendations avoid “blue chips” and “hot” stocks – instead cherry-picking select “troubled” companies poised for a rebound. His strategy is simple: Beaten down stocks with genuine value will prevail regardless of the overall market.

P.O. Box 917179, Longwood, FL 32791 editor@TheBullandBear.com www.TheBullandBear.com

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SIZEMORE INSIGHTSSizemore Capital Management LLC10440 N. Central Expressway, Ste. 800, Dallas, TX 75231.

GM will roll over the competitionCharles Sizemore: “As we start 2017, we’re in a

very different type of market. This time last year, stocks were in freefall, and energy stocks in particular were in full-blown panic mode.

Well, a year later, things are vastly different. We’re entering the year with investors feeling downright euphoric … and that makes me nervous. I’m sitting on cash positions of 15%-20% in most of my stock portfolios.

But there is one pocket of the market that I still consider massively and unambiguously cheap – automakers. So even if this stock rally fizzles in 2017, I think it’s likely that the automakers finish the year with a respectable return.

I chose General Motors (GM) as my pick for 2017.The Case for GM Stock

I currently own General Motors in my Dividend Growth portfolio… which is something that I would have considered preposterous for most of my career. After all, for as long as I could remember, automakers were perpetually in and out of crisis, over-indebted and facing industry overcapacity and a militant, unionized workforce that took most of the profits.

Well, given that GM trades for 4 times trailing earnings and 7 times expected 2017 earnings, those are precisely the assumptions still baked into stock prices. GM is priced like a company with several structural problems facing a total collapse of profitability. But the reality is a lot different, and herein lies our opportunity.

Let’s start with debt. As of last quarter, GM stock had $79 billion in long-term debt and another $21 billion in unfunded pension liabilities. Offsetting that is about $22 billion in cash and marketable securities for a net debt of about $78 billion.

That might sound like a lot, but this is a company that has done $162 billion in sales over the trailing 12 months and $14 billion in profits. That’s a manageable amount of debt, even if sales moderate.

But here’s the thing: I don’t expect sales to slow all that much in the coming years, even if we have a mild recession. Remember, auto sales went into deep freeze during the 2008 meltdown, and a lot of the strong sales of the past few years has been catch-up buying.

And I think that trend has a lot further to go. The age of the average car on American roads is now 12 years. That’s not the average age before a car goes to the scrap heap … it’s the age of cars still on the road. Now, cars are built better than they used to be and can last a lot longer. But at some point, they get retired. And given the number of aging jalopies on the road, replacement sales should be quite strong over the next several years.

What this means is that the cyclicality that has given the industry fits over the years shouldn’t be nearly as bad going forward.

I expect General Motors to roll over the competition this year. But let’s say I’m wrong and GM’s stock price sputters. What’s the downside?

Well, one of the problems with value investing is that a cheap stock can stay cheap for a long time. I’ve been long GM stock and rival Ford Motor Company (NYSE: F) for close to a year now, and the stock prices have barely budged.

But when you buy a stock paying a dividend over 4%, you can afford to be patient and wait. And I should emphasize that I expect that dividend to be safe for the foreseeable future. GM is paying out just 17% of its profits as dividends, meaning that it could have several lean years of profitability and still safely pay its dividend.

I like to define risk the way the legendary Benjamin Graham did – not as short-term volatility but rather as the possibility of permanent or very long-term loss. And in buying GM at today’s prices, I would put our risk at close to nil. And if I’m wrong on the precise timing, I’m comfortable collecting the dividend indefinitely until I’m either proven right or something fundamentally changes my mind about the company’s prospects.”

Editor’s Note: Charles Sizemore is the Chief Investment Officer of Sizemore Capital Management, a registered investment advisor, where he specializes in dividend-focused portfolios and in building alternative allocations with minimal correlation to the stock market, www.sizemorecapital.com.

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The Coca-Cola Company: Facing another transition year

Ian Gendler recently spotlighted Coca-Cola (KO), a Dow-30 component and the world’s largest beverage company.

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markets over 500 no l format is simple: small, convenient locations that sell low-cost, basic, everyday merchandise to a mass market audience. Dollar General Corporation (NYSE: DG) was founded as J.L. Turner and Son, Wholesale in 1939, and took its corporate name in 1968. From that one store, the chain has grown to 13,205 locations as of October 28, 2016.

Dollar General markets a broad selection of merchandise that includes consumables, seasonal merchandise, home products, and apparel. Consumables such as paper and cleaning products, packaged foods, and snacks make up 76% of sales. Seasonal merchandise such as toys and candy represent 12%. Home products and apparel split the remaining 12%.

The firm’s strategy targets repeat customers by providing convenient locations, low prices and a time-saving store design. Dollar General competes effectively against mass merchants, grocery and drug stores by varying price and convenience. For example, the firm matches prices against mass merchandisers like Wal-Mart to win business with its far smaller and easier-to-shop stores. Against smaller store size competitors like grocery or drug stores, Dollar General’s prices are up to 30% lower.

Retailers grow by a combination of opening new store locations and selling more in their current stores (same-store sales growth). Dollar General prides itself on its long track record of same-store sales growth which reached 26 consecutive years in 2015.

However, same-store sales growth has lagged recently. During the third fiscal quarter ended October 28 same store sales fell 0.1%, largely due to 1) commodity deflation from items including milk and eggs and 2) lower purchasing from some customers that experienced cuts in government support programs. While these problems appear temporary, the market has cut Dollar General’s stock price by 20% from its all time high reached in June, creating a buying opportunity.

In the long term Dollar General projects modest same-store sales growth of 2%-4% annually. Additionally the firm expects to add new stores to expand total square footage by 6%-8% per year. In unit terms this implies about 1,000 new stores annually, quite a task. However, the company has identified at least another 13,000 store opportunities within its existing markets and new territories where it is underpenetrated, particularly the West Coast regions.

Dollar General expects to grow its sales 7%-10% annually and leverage its corporate structure

to grow operating profit slightly faster. Cash flow from operations less capital expenditures leaves the equivalent of 5%-6% of sales available for shareholders. The company has committed to returning this cash to shareholders through dividends and share buybacks. Over the past five years, Dollar General has shrunk its share count by about 3.5% per year. Expected annual EPS growth of 10%-15% is achievable when combing sales growth, operating leverage, and share buybacks.

Dollar General competes with Dollar Tree, a similarly sized “Dollar” format retailer. Dollar Tree roughly doubled in size during 2015 through the acquisition of Family Dollar. Dollar Tree has two retail formats. Dollar Tree, about 6,300 locations, offers everyday and special buy merchandise priced at $1.00. Family Dollar, about 8,000 locations, sells low-cost, basic, everyday merchandise. Family Dollar more closely resembles Dollar General in direct competitive format. After examining both firms we came to the conclusion that Dollar General is currently the better selection due to clearer growth prospects, superior cash flow, significantly lower indebtedness, cheaper valuation, and shareholder-friendly policies.

The risks of purchasing Dollar General shares include its operations in an oversaturated retail environment, potential further cuts to government benefits for some customers, and fierce price competition. However, these are all challenges the firm has successfully navigated in the past.

Analysts expect Dollar General to grow EPS at an average annual rate of 11%. We are slightly more conservative and project 10% per year. Supporting this projection is 7% annual sales growth, resulting in sales of roughly $30 billion by 2020, consistent with company expectations. Over the past four quarters Dollar General earned $4.25. Applying a low P/E of 14.0 to that figure generates a potential low price of 60. Five years of 10% EPS growth, multiplied by a high P/E of 20.0 generates a potential total return of 13% to a high price of 137. Based on an average P/E of 17.0 and a 1.3% dividend yield, the projected average total return is 10%. We model the upside/downside ratio as 3.4 to 1.

For more information on Dollar General Corpora-tion, visit www.dollargeneral.com.”

Editor’s Note: For the seventh consecutive year, Investor Advisory Service was ranked by the Hulbert Financial Digest as one of the nation’s top-performing newsletters for consistent long-term stock market performance. Save 35% off the subscription price (Limited Offer). For details visit www.InvestorAdvisoryService.com.

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Each year Steven Halpern, editor, Top Pros’ Top Picks for MoneyShow.com turns to the nation’s most respected advisors and asks them for their Top Stock Pick, Sector and Fund Picks for the year ahead. Here are a few of the Top Picks for 2017. To read other visit www.moneyshow.com

Visa: Top Pick For conservative growth

Our Top Pick for conservative growth in 2017 has more than 50% of the global volume in credit and debit cards, notes Doug Gerlach, editor of Investor Advisory Service, www.investoradvisoryservice.com.

Slower growth with an elevated P/E ratio held back Visa (V) last year. But with growth returning to Visa’s normal levels, we feel it is time to highlight its shares once again.

Visa’s high operating margin and strong cash flow are a source of tremendous appeal; pre-tax profits in fiscal 2016 were 64% of revenue and free cash flow was 33% of revenue.

It is expensive to develop these payment networks, but the marginal cost of providing additional services is very low. This high level of profitability makes us wonder how much there is left to squeeze out of costs.

Visa completed the acquisition of Visa Europe (previously a separate company) in June 2016, bringing in 3,000 issuing banks in Europe, 500 million customer accounts, and $1.6 trillion in payment volumes.

In the most recent quarter, Visa’s organic volume growth was 10% excluding the Europe acquisition and currency translation. This figure stands out in a low-growth world.

For fiscal 2017, Visa guides to 16%-18% revenue growth and mid-teens EPS growth. Future years should be helped by cost efficiencies from the Europe acquisition.

We foresee many years of strong international growth as cards replace cash overseas like they have in the U.S.

We are forecasting five-year EPS growth of 15%. At the end of five years, EPS could be about $5.82.

A repeat of the average high P/E of 22.1 could lead to a stock price of $158. Adding in a small dividend, the potential annual return approaches 16%.

Goldcorp: Top Pick for growth-oriented investors

Adrian Day’s, editor of the Global Analyst, www.adriandayglobalanalyst.com, Top Pick for growth-oriented investors in 2017 is the fourth-largest gold mining company in the world, Goldcorp (GG).

GG has underperformed over the past year. This is partly because other major companies, such as Barrick (ABX) and Newmont Mining (NEM), had had their own problems in prior years, and so came off a lower base. But it also reflects some changes happening at Goldcorp itself.

A new CEO David Garofalo got off to a rocky start when some comments were exaggerated in the media as indicating he wanted to diversify away from gold and away from the safe jurisdictions in the Americas that had given Goldcorp one of the best political-risk profiles in the industry.

Moreover, he has shifted the company’s focus to free cash flow rather than production growth; this follows three major new mines built in the 2014-2015 period.

Although the company has a strong pipeline, there is no growth from that pipeline for perhaps three years or more. So the market focused on the lack of growth rather than the improvements in cash costs and profitability.

With solid cash flow, cash (after some asset sales), and a newly renewed line of credit, Goldcorp has plenty of firepower ($6 billion plus) for a major acquisition. If it made sense, the market would reward the company.

So Goldcorp has a strong political risk profile, some world-class mines (including the new Eleonore), a reasonable balance sheet, and good cost profile. The underperformance is unwarranted, and we expect Goldcorp to catch up over the year ahead.”

MannKind: Favorite high-risk speculation

My Top Pick for 2017 is one that has been my favorite high-risk speculation for several years; I will need to eat some crow – from behind the egg on my face – if it doesn’t finally gain some traction this year, asserts Nate Pile, editor of Nate’s Notes, www.NotWallStreet.com.

MannKind Corp. (MNKD) has developed a drug, Afrezza, which is a new form of inhalable insulin that is proving to have many benefits over existing mealtime insulins for diabetics.

With what turned out to be a less-than-optimal partnership with Sanofi (SNY) now completely behind it, I believe the company is ready to begin scaling-up

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the marketing presence of Afrezza.Not only are patients reporting better control

of their blood sugars, they are also reporting that between the drug’s efficacy and convenience when traveling.

Though it remains to be seen what the FDA will say, the company has applied for a label change later this year that ought to not only help increase interest in the product, but also make it significantly more difficult for competitors to bully the product around on insurance formularies.

Along with Afrezza – which is already FDA approved – MannKind is also applying its Technosphere (TS) drug delivery platform to other drugs that may see an increase in efficacy and convenience if they can be delivered in an inhalable version.

Their lead clinical effort in this area is currently an inhalable version of epinephrine, the drug found the epi-pen.

The company also licensed its TS technology to a very secretive private company from the Seattle area called Receptor Life Sciences that seems to be doing work on cannabis-related products.

In addition, I believe the licensing deal is a good first example of what I believe will be many such licensing deals in the years ahead as other companies look to develop inhalable versions of their own compounds.

Also, roughly one-third of the float has been sold short. If the story plays out the way I believe it will, there is a possibility that short covering will help to move the stock “further and faster” than it might otherwise go.

General Electric: Lots of upside potential

During the recession, it was much easier to find mega-conglomerates that fit our purchase criteria, but the upward march of stocks has significantly pared back the list of such candidates, notes Benj Gallander, editor of Contra the Heard.

General Electric (GE) – our Top Pick for conservative investors in 2017 – continues to play musical chairs, buying and selling subsidiaries and divisions like the Tasmanian Devil hooked on speed.

While some analysts may feel they have a good fix on the numbers and can tally pro forma statements like an astrologer dialed into the future, our powers of divination are misty. There are simply too many moving parts.

This is no niche player. That CEO Jeffrey Immelt keeps track of them all is a Herculean feat. Annual

revenues are enormous, at $117 billion. Earnings this past quarter were a feisty $2 billion. The backlog of $319 billion is a record.

If margins are healthy, the bottom line should be lusty, and a recent dividend increase added to the ongoing investor returns. At the current $0.24 cents per quarter, it is lovely to collect, but that’s a far cry from the high-water mark of $0.31 cents.

One arena where this firm is being attacked is in the tax realm. Currently, the company is in the throes of moving its head office from Connecticut to Massachusetts – Boston, to be precise.

The fact that Connecticut has raised corporate taxes five times since 2011 is obviously a key driver, while the Bay State accompanied Boston by offering incentives of $145 million to draw GE into the fold.

Technically, GE’s stock price has recovered nicely since the recession. However, it sits just under half the peaks scaled during the technology bubble.

There’s still lots of potential upside, but we caution that the state of the global economy overall is critical to this corporation’s results.

Cisco Systems: Beef-up cybersecurity products.

Our Top Pick for conservative investors is a global leader in data networking and communications, explains Annell Danczyk, senior portfolio manager at Stack Financial Management and contributor to InvesTech Research, www.Investech.com.

Cisco Systems (CSCO) carries impressive scale and brand-strength in its core markets of switches and routers, which provide a foundation for a large and steady cash flow.

This characteristic is both sought by conservative income investors and desired to fuel growth.

A dominant company in the tech sector, Cisco possesses the key competitive advantage of holding the #1 or #2 positions in most of its market segments.

Its switches and routers are considered the superior industry choice and command a premium price. It’s estimated that Cisco branded equipment runs about 60% of enterprise area networks.

Although a slow decline in revenue in CSCO’s traditional business segment is projected, the company has acted methodically to shift its emphasis to cloud-based solutions and capitalize on the changing industry environment.

Management has done a great job of promoting innovation within the company to shift focus to some of the faster-growing, complementary segments of the market.

Continued on page 15

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BioSig Technologies: Improving the quality of cardiac EP recordings

Editor Bill Velmer recently issued a “Buy” recommendation on BioSig Technologies, Inc. (BSGM) a medical device company that is developing a proprietary technology platform designed to minimize noise and artifacts from the Cardiac recordings during Electrophysiology studies and Ablation – a $4 billion marketplace.

Led by a proven management team and a veteran, independent Board of Directors, Minneapolis-based BioSig is preparing to commercialize its PURE EP™ System on a global scale, uplisting to a more senior exchange and enhancing overall shareholder value.

The PURE EP system is designed to assist electrophysiologists in making clinical decisions in real-time by providing information that is not always easily obtained, if at all, from any other equipment presently used in Electrophysiology labs. The PURE EP System’s ability to acquire high fidelity cardiac signals will potentially increase these signals’ diagnostic value, and therefore offer improved accuracy of the EP studies and related procedures.

BIOSIG has focused on improving the quality of cardiac recordings obtained during ablation of atrial fibrillation (AF), the most common cardiac arrhythmia, and ventricular tachycardia (VT), an arrhythmia evidenced by a fast heart rhythm originating from lower chambers of the heart, which can be life threatening. Cardiac ablation is a procedure that corrects conduction of electrical impulses in the heart that causes arrhythmia. During this invasive procedure, a catheter is usually inserted using a venous access into a specific area of the heart. A special radio frequency generator delivers energy through the catheter to small areas of the heart that cause the abnormal heart rhythm.

According to the American Heart Association (AHA), cardiac arrhythmias affect over 14.4 million Americans, with the most prevalent and deadly

arrhythmias being AF and VT.AF is the most common form of arrhythmia, and

the AHA forecasts the number of AF cases in the US to rise from 6.1 million in 2015 to 8-12 million by 2050. AF is also a costly condition, with 600k hospitalizations/yr causing a direct cost of about $6B annually- $26B including indirect costs.

Once cleared by the FDA during mid 2017, BSGM will seek clearance during 2018 within the EU and then Japan and eventually China.

Analysts forecast the global market for EP devices is anticipated to grow at a 12% compound annual growth rate from $2.5 billion in 2012 to $5.5 billion by 2019 – making it one of the fastest growing medical device segments.

There are numerous factors that will proper this stock higher. Historically, low priced stocks are usually the hardest hit investments during tax selling season, but as a group they usually rebound the most come Jan-Feb. The first year of a new POTUS historically is also very Bullish! So we have a rebound from tax selling, the group becomes a favorite of the street and strong Bullish sentiment prevails and leads to a nice bounce for BSGM during Jan - Feb 2017. We believe a near term target price for BSGM is $2.00/sh.

Why this Investment Might Be Perfect!1. The product is cutting edge with no competition

(management constantly looking to see if any patents are being filed that have similar function) and this specific industrial sector is rapidly growing and will reach $5.5B within a few years.

2. The management team, directors, and advisory board resemble some of the largest medical companies in the world. The talent is top shelf.

3. The management continues to self fund as seen 30-45 days ago raising some $500k among themselves with the option to raise another $4.5 million as needed.

4. The balance sheet has zero debt and has a $42 million NOL which can be used to skirt taxes at some later date if certain scenarios develop.

5. We see limited downside risk at current levels.6. We believe that a rebound in medical and drug

related investments will firm up in 2017 because the cloud of additional regulation has been lifted due to the new administration that will be taking office during Jan 2017.

7. Historically, the first year of a new administration the stock market rallies. We have already seen a “Trump Bounce” to all time highs within the major indices. Some of this excitement is due to the possible reduction of corporate tax rates that will spur business growth with the USA. A New Golden Age for America!

8. It is in our opinion that BSGM will receive their FDA approval during mid 2017 and that a buyout will occur on or before this approval. Our target price for the company is around $8-$10 a share.

The stars are aligning themselves for serious appreciation for BSGM during 2017. It is called a “NO BRAINER”! Everything is in place for investors to take advantage of a perfect investment that is heading higher. We just don’t how high yet!

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Continued from page 1

to load up on top-quality firms sell-ing at discounted prices. Ketterer recommends Prudential PLC (PUK), a London-based insurer with a fast-growing business in Southeast Asia, and Japan Air-lines (JAPSY), whose domestic passengers are taking advantage of a strong yen to travel abroad. Mutual fund investors should consider Fidelity International Growth (FIGFX) and FMI Inter-national (FMIJX), both members of the Kiplinger 25. The long-term case for emerging-markets stocks remains compelling. Patient in-vestors can invest through Kip 25 member Baron Emerging Markets (BEXFX).

In the U.S., consider a sector that is typically regarded as defen-sive buy lately has been anything but. Health care stocks were pum-

meled by members of Congress on both sides of the political aisle in 2016, as Republicans threatened to repeal the Affordable Care Act and Democrats waged war on drug prices. But drug and biotech stocks rebounded strongly after President-elect Trump’s victory. Mike Bailey, director of research for FBB Capital Partners, a mon-ey-management firm in Bethesda, MD, likes Alexion Pharma-ceuticals (ALXN, $131), which specializes in treatments for rare diseases; medical device maker C.R. Bard (BCR, $231); and insurer UnitedHealth Group (UNH, $158). For fund investors, we favor Kip 25 fund Vanguard Health Care (VGHCX).

Technology stocks should do well if there’s even a whiff of economic slowdown. Bailey recommends Microsoft (MSFT, $62), which has exposure to cloud computing,

Where to Invest in 2017and Visa (V, $81), which operates the world’s largest electronic-payments network. A boost in infrastructure spending is already reflected in the share prices of many of the machinery companies and other firms you’d expect to benefit. But cybersecurity will be a priority, too, making Palo Alto Networks (PANW, $142) a backdoor infrastructure play, says Bailey. Vanguard Information Technology (VGT), a member of the Kiplinger ETF 20, is a good choice for tech investors.

When rates are rising, financial stocks deserve a look – particu-larly now that regulations will likely be scrutinized and perhaps lightened. Beyond banks, such as J.P. Morgan (JPM, $83) and PNC Financial Services Group (PNC, $117), consider companies with an investing kicker, says Bailey. He likes TD Ameritrade (AMTD, $46), which should see a boost in interest income once short-term rates rise.

Restaurants, hotels and espe-cially high-end retailers should prosper now that the threat of tax increases on the wealthy has been pushed aside, says Savita Sub-ramanian, a strategist at Bank of America Merrill Lynch. Con-sider Marriott International (MAR, $84) and retailer Signet Jewelers (SIG, $80). Or use an exchange-traded fund, such as Consumer Discretionary Se-lect SPDR (XLY, $83), to invest in a broad range of companies.

Dividend stocks have been Wall Street’s darlings for years, and they still deserve a place in your portfolio. But investors might consider trim-ming positions in so-called RUST stocks – real estate investment trusts, utilities, consumer staples and telecommunications service providers. These high-yielders be-have a lot like bonds, which means that when rates rise, their prices will fall. Rather, focus on sturdy companies with the wherewithal to raise payouts consistently over time with an investment in T. Rowe Price Dividend Growth (PRDGX), a Kip 25 member.

Continued from page 13

As part of this plan, Cisco completed a series of timely acquisitions in 2016. Several of these resulted from the strategy to beef-up cybersecurity products.

Other acquisitions have capitalized on industry shifts toward an emphasis on wireless, collaboration, and data center products. Moreover, Cisco spent over $6 billion on R&D last year.

Intentions have been voiced by the Trump administration to lower the corporate tax rate on funds brought back to the U.S. from foreign countries.

If CSCO could free up its $60 billion stockpile of cash located overseas, management has stated it would be used to fund buybacks, additional acquisitions, and dividends.

For income investors, it’s important to note the dividend has grown impressively by more than 20% annually since initiated in 2011.

Cisco currently yields 3.5% and has the cash flow and balance sheet strength to back these growing shareholder payments into the future.

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cost of your storage unit.) You can list large items (free) on your local Craigslist classifieds, and buyers will come to you. Just be sure to insist on cash to avoid bounced checks. Take good photos, share key details and provide a concise description of what you’re selling.

If you don’t want the hassle of selling items yourself, take furniture and home accessories you no longer want to an upscale consignment store that gets a lot of traffic so that you can get top dollar for your items. Expect to split the profit 50/50 with the store.

For online furniture consignment, try sites such as Chairish.com, which lets you sell your used or vintage furniture and home decor and earn up to 80% of the resale value, or AptDeco (only available in New York City and surrounding areas as well as the Washing-ton, D.C. market), which helps you sell used home furnishings and earn up to 86% of the resale value.

Redeem Rewards PointsYou could be sitting on an untapped source of cash

if you haven’t bothered to redeem your credit card rewards points lately. If you are looking for extra cash this year, now is a great time to cash them in. One-third of all rewards – everything from airline miles to cash back – worth a total of $16 billion go unredeemed each year, according to a study by marketing research firm Colloquy. Per household, that averages out to $205 worth of rewards a year that aren’t redeemed.

The next-best thing to getting cash-for-points is a general-purpose gift card. At American Express, for example, 5,000 Membership Rewards points earns you a $25 AmEx gift card that’s good in more than a million places. You can get more bang for your points by selecting a retailer-specific gift card – often $50 for 5,000 points.

Sell Your CreationsIf you have a knack for creating anything from

baked goods to intricate art designs, you can profit from your talent.

You can find clients for your baked goods by volunteering to provide treats for your children’s holiday school functions or for church or other religious gatherings, or by selling them at a farmer’s market, flea market or local festivals.

If art and design are more your speed, consider selling your creations at local weekend craft shows. My 86-year-old mother does this with her intricate German scissor-cutting art – or on Etsy, DeviantArt or Zazzle. Etsy and Zazzle feature products such as jewelry, quote posters, vintage clothing and even pet supplies. DeviantArt, which has a large following associated with its popular Tumblr, mainly sells art prints.

Earn Extra Cash in 2017

ONLY GOING TO ONE MINING INVESTMENT SHOW THIS YEAR?

Prospectors & Developers Association of Canada

International Convention, Trade Show & Investors ExchangeMetro Toronto Convention Centre, Toronto, Canada

MARCH 5 – 8TOP 5 REASONS TO ATTEND

1 Network with over 22,000 industry professionals

2 Attend engaging presentations and informative courses led by industry experts, and earn professional development credits

3 Visit over 900 exhibitors promoting technology, products, services, claim results, exploration and investment opportunities

4 Gain valuable insight on investing in the minerals and mining sector from industry leaders

5 Attend lively and informative events such as the Awards Gala, the Mineral Outlook Luncheon and the Grand Finale!

REGISTER AT www.pdac.ca/convention