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The Stingy News Weekly: 01/30/2021


New from Norm

Book value bargains in the TSX
"A portfolio of large stocks with the lowest 30 per cent of P/Bs gained an average of 12.9 per cent annually from the end of June, 1926, to the end of November, 2020. By way of comparison, the U.S. market gained an average of 10 per cent annually over the same period. Unfortunately, the low-P/B value portfolio disappointed in recent years. It gained just 9.4 per cent annually over the 10 years through to the end of November, 2020, while the market advanced by 14.6 per cent annually."


Stingy Links

Net-net review
"We therefore conclude that when viewed from the perspective of a practitioner, the empirical evidence analysed is insufficient to support the view that investing in securities trading below their NCAV provides a reliable source of material outperformance."
[Graham]

Diversification is not dead
"Extrapolating the recent superior performance of the 60/40 mix into the future requires the dangerous assumption that US stock market valuations will march to nearly unprecedented levels."
[Arnott]

Volkswagen 10 years later
"Then, over the weekend, Porsche SE dropped a bomb. They issued a press release stating that they had control (via option and swap positions) of an additional 31.5% of the company through option positions, in addition to the 42.6% they already held. This got them to approximately 75%, which not only effectively meant they had a domination agreement (aka they owned VW), but that given the 20% stake already held by the state of Lower Saxony and more by other long-term shareholders, there basically was no float left for the most heavily shorted company in the world."
[Markets]

The GameStop revolution
"Individual traders banded together this past week to move markets like never before. But the buildup to this remarkable moment has been happening for decades."
[Markets]

Fairfax's stealth rally
"I'm long shares for more than just the recent investment performance. Fairfax has been steadily improving its insurance operations and this is far more important to the investment thesis long term. But I wouldn't be surprised if the narrative on Fairfax's investment side becomes much more positive and quickly, pushing shares higher."
[Watsa]

The grocery store puzzle
"If most e-commerce companies have been pulled 1-3 years into the future in terms of their revenue, then the e-commerce businesses of most category leading brick and mortar retailers have been pulled 5-10 years into the future"
[Markets]


S&P/TSX60 Value Screens

High Dividend Yield StocksP/EP/BP/SYield
Brookfield Property Partners (BPY.UN)FABA
Enbridge (ENB)DCCA
Pembina Pipeline (PPL)CADA
BCE Inc. (BCE)CDCA
Power Corp of Canada (POW)AAAA
TC Energy (TRP)ACDA
Cdn Natural Resources (CNQ)FABA
Shaw (SJR.B)BCCA
CIBC (CM)BBBA
Bank of Nova Scotia (BNS)ABCA
Notes | More Info...


Low Price/Earnings StocksP/EP/BP/SYield
Kinross Gold (K)ABDF
Canadian Apartment REIT (CAR.UN)AAEC
Power Corp of Canada (POW)AAAA
TC Energy (TRP)ACDA
Manulife (MFC)AAAA
National Bank (NA)ACCB
Bank of Montreal (BMO)ABBB
Barrick Gold (ABX)ACDD
Bank of Nova Scotia (BNS)ABCA
Alimentation Couche-Tard (ATD.B)BDAE
Notes | More Info...


Low Price/Book Value StocksP/EP/BP/SYield
Cenovus Energy (CVE)FAAF
Teck Resources (TECK.B)FABE
Brookfield Property Partners (BPY.UN)FABA
Imperial Oil (IMO)FAAC
Suncor Energy (SU)FABB
Manulife (MFC)AAAA
Power Corp of Canada (POW)AAAA
Canadian Apartment REIT (CAR.UN)AAEC
Cdn Natural Resources (CNQ)FABA
SNC-Lavalin (SNC)FAAE
Notes | More Info...


Canadian Stock SummaryYieldP/EP/B
Power Corp of Canada (POW)YYY
Bank of Nova Scotia (BNS)YY
Brookfield Property Partners (BPY.UN)YY
Canadian Apartment REIT (CAR.UN)YY
Cdn Natural Resources (CNQ)YY
Manulife (MFC)YY
TC Energy (TRP)YY
Alimentation Couche-Tard (ATD.B)Y
BCE Inc. (BCE)Y
Bank of Montreal (BMO)Y
Barrick Gold (ABX)Y
CIBC (CM)Y
Cenovus Energy (CVE)Y
Enbridge (ENB)Y
Imperial Oil (IMO)Y
Kinross Gold (K)Y
National Bank (NA)Y
Pembina Pipeline (PPL)Y
SNC-Lavalin (SNC)Y
Shaw (SJR.B)Y
Suncor Energy (SU)Y
Teck Resources (TECK.B)Y
Notes...


DOW 30 Value Screens

High Dividend Yield StocksP/EP/BP/SYield
Chevron (CVX)EAAA
IBM (IBM)BCAA
Verizon (VZ)ABBA
Walgreens (WBA)ABAA
Merck (MRK)BDCA
Coca-Cola (KO)CDEB
3M (MMM)BDCB
Cisco (CSCO)BCCB
(AMGN)BEDB
JP Morgan Chase (JPM)BACB
Notes | More Info...


Low Price/Earnings StocksP/EP/BP/SYield
Goldman Sachs (GS)AABD
Walgreens (WBA)ABAA
Intel (INTC)ABCC
Verizon (VZ)ABBA
Travelers (TRV)AAAC
JP Morgan Chase (JPM)BACB
Merck (MRK)BDCA
Cisco (CSCO)BCCB
3M (MMM)BDCB
IBM (IBM)BCAA
Notes | More Info...


Low Price/Book Value StocksP/EP/BP/SYield
Goldman Sachs (GS)AABD
Travelers (TRV)AAAC
Chevron (CVX)EAAA
DuPont (DD)CABD
JP Morgan Chase (JPM)BACB
Walgreens (WBA)ABAA
Intel (INTC)ABCC
Verizon (VZ)ABBA
Walt Disney (DIS)EBDF
American Express (AXP)DBCE
Notes | More Info...


US Stock SummaryYieldP/EP/B
JP Morgan Chase (JPM)YYY
Verizon (VZ)YYY
Walgreens (WBA)YYY
3M (MMM)YY
Chevron (CVX)YY
Cisco (CSCO)YY
Goldman Sachs (GS)YY
IBM (IBM)YY
Intel (INTC)YY
Merck (MRK)YY
Travelers (TRV)YY
American Express (AXP)Y
Coca-Cola (KO)Y
DuPont (DD)Y
Walt Disney (DIS)Y
Notes...



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2021
  10: 03 07 17
  09: 05 12 19 24
  08: 02 08 15 22 29
  07: 04 11 19 25
  06: 06 13 20 27
  05: 02 09 16 23 30
  04: 04 11 18 25
  03: 07 14 21 28
  02: 07 14 21 28
  01: 03 10 17 24 30
2020
  12: 06 13 20 25
  11: 01 08 22 27
  10: 03 11 18 24
  09: 06 11 19 26
  08: 01 09 16 22 30
  07: 04 12 18 26
  06: 06 12 20 27
  05: 03 09 16 23 31
  04: 04 12 17 24
  03: 08 15 22 28
  02: 01 07 15 22 28
  01: 03 10 17 24
2019
  12: 03 11 16 27
  11: 03 08 16 22 27
  10: 04 11 18 22
  09: 06 11 17 25
  08: 12 19 31
  07: 07 26 31
  06: 06 15 21 26
  05: 01 08 15 20 27
  04: 03 13 16 21
  03: 04 12 18 25
  02: 05 13 20 25
  01: 01 08 16 22 28
2018
  12: 03 11 17 26
  11: 01 05 12 19 26
  10: 09 15 22
  09: 06 10 17 24 30
  08: 07 13 22 28
  07: 02 09 16 23 30
  06: 04 12 19 25
  05: 08 14 23 28
  04: 02 10 16 22 30
  03: 05 12 19 27
  02: 05 12 20 26
  01: 01 08 15 22 29
2017
  12: 04 11 18 24
  11: 06 12 20 27
  10: 01 07 16 23 30
  09: 04 11 17 23
  08: 07 16 20 28
  07: 02 09 16 23 30
  06: 04 11 18 26
  05: 07 14 21 28
  04: 02 09 16 23 30
  03: 05 12 19 26
  02: 05 12 19 26
  01: 02 07 15 22 29
2016
  12: 04 11 18 26
  11: 06 13 20 27
  10: 02 09 16 23 29
  09: 04 11 18 25
  08: 07 14 21 28
  07: 03 10 17 24 31
  06: 05 11 19 26
  05: 01 08 15 22
  04: 03 10 17 24
  03: 06 13 20 27
  02: 07 14 21 28
  01: 03 10 17 24 31
2015
  12: 06 13 20 27
  11: 01 08 15 22 29
  10: 04 10 18 25
  09: 05 13 20 27
  08: 17 23 30
  07: 05 12 19 26 31
  06: 06 14 21 28
  05: 03 09 17 23 31
  04: 04 12 19 26
  03: 01 07 15 22 28
  02: 07 14 21
  01: 04 12 18 25 31
2014
  12: 06 14 21 28
  11: 02 08 16 23 30
  10: 04 11 19 26
  09: 06 14 19 28
  08: 10 16 24 29
  07: 05 12 19 25
  06: 08 15 20 29
  05: 04 11 18 25 30
  04: 06 12 20 27
  03: 02 09 16 23 30
  02: 01 09 16 23
  01: 05 12 18 26
2013
  12: 02 09 16 30
  11: 03 11 17 24
  10: 06 14 20 27
  09: 09 16 23 30
  08: 04 10 25
  07: 07 15 21 28
  06: 03 09 16 23 30
  05: 05 12 19 26
  04: 07 14 21 28
  03: 03 11 17 24 31
  02: 04 10 17 24
  01: 06 13 20 27
2012
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  11: 04 11 18 25
  10: 07 14 21 28
  09: 02 09 16 23 30
  08: 05 12 19 26
  07: 01 08 15 22 29
  06: 03 10 17 24
  05: 07 13 20 27
  04: 01 08 15 22 29
  03: 04 11 18 25
  02: 05 12 19 26
  01: 01 08 15 22 29
2011
  12: 04 11 18 25
  11: 06 13 20 27
  10: 02 09 16 23 30
  09: 04 11 18 25
  08: 07 14 21 28
  07: 03 10 17 24
  06: 05 12 19 26
  05: 01 08 15 22 29
  04: 04 10 17 24
  03: 06 13 20 27
  02: 06 13 20 27
  01: 02 09 16 23 30
2010
  12: 05 12 19 26
  11: 07 14 21 28
  10: 03 10 17 24 31
  09: 05 12 19 26
  08: 01 08 15 22 29
  07: 04 11 16 25
  06: 06 13 20 27
  05: 02 09 16 23 30
  04: 04 11 18 25
  03: 07 14 21 28
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  01: 03 10 17 24 31

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Disclaimers: Consult with a qualified investment adviser before trading. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, financial advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. More...