RE:Fun with figuresThe recovery period since the bottom of the market in March has provided opportunity for momentum-oriented investors to pick up companies in other sectors that have recovered quickly. To find these types of companies Mr. Tam considered five-year growth rates for cash flow and earnings per share. He looked for growing quarterly earnings momentum. Mr. Tam also looked for companies with positive three-month estimate revisions. To qualify, companies needed to have a sector-relative debt-to-equity ratio less than one, implying that the debt-to-equity of the company is lower than that of the sector to which it belongs. Mr. Tam's stocks that show good momentum are Shopify, Pan American Silver, Centerra Gold, B2Gold and Kinaxis.