The founding principles of FSA Financial Science and Art Ltd. are based on CASH FLOW, CASH METRICS, and DISCOUNTED CASH FLOW VALUATION, not EARNINGS and P/E Multiples!

In 2001, with the launch of its QuickVALUATION research tool, FSA was founded by Matt Kacur, an expert in Value Based Management. Through his professional experience as a management consultant and stock research analyst, it became evident that there was great need for investment tools that were focused on cash flow instead of earnings. Traditionally, Wall Street and Bay Street research has been primarily focused on earnings and P/E multiples, despite overwhelming evidence that CASH FLOW and RETURN ON CAPITAL metrics are more highly correlated with true economic performance and stock market valuation, due to earnings complications such as accounting distortions and management’s choices in reporting. FSA was thus founded on the belief that the necessary accounting adjustments would result in far superior metrics and stock valuation tools than existed at the time. Our research and nine+ years of results have shown that our proprietary metric Cash Flow Internal Rate of Return (CFIRR) is a more accurate indicator of true economic performance than earnings, and that our valuation tools provide valuable insights into investing.

The QuickFINANCIAL Suite

Since 2001, FSA has licensed its flagship product, QuickVALUATION, to institutional money managers, providing a comprehensive database containing FSA’s proprietary metrics and valuation methodology on any stock trading in Canada and the US.

In 2010, the launch of QuickSCREEN and QuickPORTFOLIO will complete the QuickFINANCIAL Suite and give FSA users much more power at their fingertips.

With the client’s new ability to screen and follow their own ideas, FSA clients will be fully empowered by the Suite of tools; in the world of investing, empowerment is key. This interactivity will be augmented by the FSA Team’s investment ideas. Since 2001, FSA has made customer service its focus, keeping fresh stock trading ideas in front of clients through monthly reports and ongoing communication, including face to face monthly meetings.

The RoC Report

FSA has published the Canadian and US RoC Reports monthly since 2003. The Canadian RoC Report tracks a universe of 200 Canadian and dual-listed companies and is co-branded with Haywood Securities Inc.The US RoC Report tracks 100 US companies and is published and branded exclusively by FSA.