The Direxion iBillionaire Index ETF, $25.40, symbol IBLN on New York (Units outstanding: 1.4 million; Market cap: $35.6 million; www.direxioninvestments.com), is designed to profit from copying the moves of billionaire investors, such as Warren Buffett, Carl Icahn, Daniel Loeb and David Tepper. The ETF began trading on August 1, 2014. Its MER is 0.65%—lower than most mutual funds, but high for an ETF. The Direxion iBillionaire Index ETF selects up to 10 billionaire investors from a pool of 50, based on their personal net worth, source of wealth, stock turnover and performance over time. It then selects stocks from their investment firms or hedge funds....

Movado Group, $33.74, symbol MOV on New York (Shares outstanding: 18.7 million; Market cap: $854.4 million; www.movado.com), sells and distributes watches and jewellery under its own brands and under license from designers. Its top banners include Movado, Ebel, Concord, ESQ, Coach, Hugo Boss, Juicy Couture, Tommy Hilfiger and Lacoste. Movado doesn’t make any of its watches. Instead, it uses independent manufacturers in Switzerland, China and Hong Kong....

Leisureworld Senior Care Corp., $13.28, symbol LW on Toronto (Shares outstanding: 36.3 million; Market cap: $481.6 million; www.leisureworld.ca), is one of Canada’s largest operators of seniors’ housing and the biggest licensed long-term care provider in Ontario. The company owns and operates 35 long-term care homes with a total of 5,733 beds across Ontario. It also owns and operates 10 retirement residences in Ontario and B.C. with 1,065 suites in all. Leisureworld’s subsidiaries consist of Preferred Health Care Services, which provides professional nursing and personal-support services....

Enbridge Income Fund Holdings Inc., $30.32, symbol ENF on Toronto (Shares outstanding: 56.5 million; Market cap: $2.0 billion; www.enbridgeincomefund.com), is a holding company that owns 85.6% of Enbridge Income Fund. Enbridge Inc. (symbol ENB on Toronto and a recommendation of The Successful Investor), holds the remaining 14.4%. If you include preferred shares and its 19.9% direct stake in Enbridge Income Fund Holdings, Enbridge Inc. has a 67.3% economic interest in the fund. Enbridge first sold units of Enbridge Income Fund Holdings to the public in 2003. In December 2010, the fund converted to a regular corporation....

Corrections Corp. of America, $35.15, symbol CXW on New York (Shares outstanding: 116.4 million; Market cap: $4.1 billion; www.cca.com), is a real estate investment trust that owns and manages prisons. It also provides rehabilitation, educational, health care and recreational services in these facilities. The trust is one of the largest prison operators in the U.S., behind only the federal government and three states. It owns or controls 52 correctional and detention facilities and manages 12 more under government contracts. In all, it has about 84,500 beds in 19 states and the District of Columbia. Corrections Corp. jumped from about $32 to today’s price in early August 2014. That reflected heightened investor interest in for-profit prison stocks in the wake of a flood of illegal immigrants, including children, crossing the U.S.-Mexico border....

Pacific Tycoon (www.pacifictycoon.com) is a Hong Kong-based firm that promises to buy shipping containers on your behalf—with a minimum initial investment of $4,100 U.S.—and then lease them out for you. It offers two options:

1. Under option one, Pacific Tycoon guarantees you a minimum return of 12% a year, payable monthly, on a long-term lease for your container. The company will also buy your container back from you at the price you paid if you let them lease it for you for three years.
2. Option two is a “maximized rental agreement,” where Pacific Tycoon rents your container to shippers with “urgent demands due to lack of container availability.” This aims for returns of 30% a year.

We see a number of risks with Pacific Tycoon....

KKR & Co. L.P. (formerly Kohlberg Kravis Roberts & Co. L.P.), $22.37, symbol KKR on New York (Shares outstanding: 415.5 million; Market cap: $17.9 billion; www.kkr.com), is an asset manager with 14 offices across North America, Europe, the Middle East, Asia and Australia. The company serves three main markets: private (investment funds); public (leveraged loans, high-yield bonds, special situation assets, distressed assets, and rescue, debtor-in-possession and exit financings); and capital (debt/equity financing). KKR had $98.0 billion of assets under administration on June 30, 2014, down from $102.3 billion three months earlier. However, that was because the company took advantage of strong financial markets to sell some of its investments at a profit. These moves included the sale of Oriental Brewery Co. to Anheuser-Busch InBev and helicopter-services firm Avincis to Babcock International Group....

The practice of market timing consists of coming up with and acting on a series of guesses (or estimates, or assessments of the probabilities) to use in your buying and selling decisions, with the aim of buying near a low and selling near a high. Most market timing systems attempt to interpret and detect buy and sell signals in trading patterns and history. Some of the decisions you make with the help of market timing will bring you profits, and others will cost you money. Many investors start out with an exaggerated idea of the value and importance of market timing. Most eventually become disillusioned with it, after they figure out that it’s costing them money. Market timing can pay off sporadically, of course. Although the results are largely random, successes and failures are apt to run in spurts. The worst thing that can happen to you near the start of an investing career is that you make a series of successful timing decisions. This may lead you to believe that you have a natural talent for market timing, or that you’ve stumbled on a timing process that’s a guaranteed money-maker. Either of these conclusions can spur you to back your future timing decisions with growing amounts of money....

Paychex Inc., $42.30, symbol PAYX on Nasdaq (Shares outstanding: 363.1 million; Market cap: $15.4 billion; www.paychex.com), provides a range of human resources and payroll services, including accounting, salary deposits and automatic tax payment and filing. The company’s 580,000 clients are mostly small- to medium-sized businesses (10 to 200 employees). It operates about 100 offices in 41 states, as well as Germany and Brazil. Paychex gets 65% of its revenue from payroll services. The remaining 35% comes from human resources, including managing health insurance programs and pension plans. As well, Paychex recently started offering accounting and payment-processing services....

POET Technologies Inc., $1.36, symbol PTK on Toronto (Shares outstanding: 163.8 million; Market cap: $226.2 million; www.poet-technologies.com), is working on integrating optics and electronics on a single computer chip. That can improve performance and cut power use. The company had no revenue in the three months ended June 30, 2014. It lost $2.9 million, or $0.02 a share, compared to a loss of $2.0 million, or $0.01 a share, a year earlier (all figures except share price and market cap in U.S. dollars). POET is using up its cash at a rate of about $1 million per quarter. However, its cash balance was $12.7 million on June 30, 2014, so it has the funds to sustain its operations....