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The Stingy News Weekly: 04/17/2022


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Size does not matter for value
"Based on prior academic research conducted in long/short portfolio analysis, some market participants believe that long-only Value investing works better in small-cap stocks. Our research shows that this is not true in long-only Value investing, which is how most practitioners allocate towards the Value premium. Our primary research finding is that equal-weight large-cap Value portfolios and small-cap Value portfolios are statistically similar from a returns perspective. The data suggests that value investors with a liquidity preference should allocate towards equal-weight large-cap Value portfolios. If nothing else, the data suggests that practitioners should split their Value allocations across the large-cap Value (equal-weighted) and small-cap Value since these portfolios have zero overlap but similar historical returns, highlighting a potential diversification benefit."
[Value Investing]

Generational dislocation in value stocks
"We often get asked whether value stocks are 'cheap.' The short answer is 'yes', but they have been cheap for a while. This important caveat underscores the fact that valuation tends to be a poor timing mechanism for all but true long-term investors."
[Value Investing]

On concentrated positions
"Be careful with concentrated positions. You need certainty about safety most, earnings second, and growth third. Otherwise you are a gambler, and most gamblers lose."
[Markets]

Risk-reward in a hiking cycle
"We believe there's a strong practical argument for a large allocation to fixed income today. The argument is simple: rising rates tend to be bad for all asset classes, and fixed income actually tends to perform relatively well, with significantly lower drawdowns."
[Markets]

Value factor comes back
"Antti's latest book does exactly that. It argues that Value (and Momentum), are still reliable long run sources of return that can (and should) be used to enhance portfolio returns during the current environment of low expected returns."
[Value Investing]


S&P/TSX60 Value Screens

High Dividend Yield StocksP/EP/BYield
Enbridge (ENB)CCA
Power (POW)AAA
Pembina Pipeline (PPL)DCA
BCE (BCE)DDA
TC Energy (TRP)ECA
Manulife Financial (MFC)AAA
Bank of Nova Scotia (BNS)AAA
CIBC (CM)AAA
Algonquin Power (AQN)EBA
Emera (EMA)DBA
Notes | More Info...


Low Price/Earnings StocksP/EP/BYield
Canadian Apt REIT (CAR.UN)AAC
Manulife Financial (MFC)AAA
SNC-Lavalin (SNC)ABE
Power (POW)AAA
Thomson Reuters (TRI)AED
National Bank (NA)ABB
CIBC (CM)AAA
Canadian Tire (CTC.A)ACC
Teck Resources (TECK.B)AAD
Sun Life (SLF)AAB
Notes | More Info...


Low Price/Book Value StocksP/EP/BYield
Canadian Apt REIT (CAR.UN)AAC
Manulife Financial (MFC)AAA
Power (POW)AAA
Kinross Gold (K)EAC
Teck Resources (TECK.B)AAD
CIBC (CM)AAA
Magna International (MG)BAB
Bank of Nova Scotia (BNS)AAA
Sun Life (SLF)AAB
Suncor Energy (SU)BAA
Notes | More Info...


Canadian Stock SummaryP/EP/BYield
CIBC (CM)YYY
Manulife Financial (MFC)YYY
Power (POW)YYY
Bank of Nova Scotia (BNS)YY
Canadian Apt REIT (CAR.UN)YY
Sun Life (SLF)YY
Teck Resources (TECK.B)YY
Algonquin Power (AQN)Y
BCE (BCE)Y
Canadian Tire (CTC.A)Y
Emera (EMA)Y
Enbridge (ENB)Y
Kinross Gold (K)Y
Magna International (MG)Y
National Bank (NA)Y
Pembina Pipeline (PPL)Y
SNC-Lavalin (SNC)Y
Suncor Energy (SU)Y
TC Energy (TRP)Y
Thomson Reuters (TRI)Y
Notes...


DOW 30 Value Screens

High Dividend Yield StocksP/EP/BYield
IBM (IBM)CCA
Verizon (VZ)BBA
Dow (DOW)ABA
Walgreens (WBA)AAA
3M (MMM)BCA
Chevron (CVX)CBB
Merck (MRK)BCB
JPMorgan Chase (JPM)AAB
Intel (INTC)AAB
Amgen (AMGN)DEB
Notes | More Info...


Low Price/Earnings StocksP/EP/BYield
Goldman (GS)AAC
Walgreens (WBA)AAA
Dow (DOW)ABA
JPMorgan Chase (JPM)AAB
Intel (INTC)AAB
Verizon (VZ)BBA
Travelers (TRV)BAD
3M (MMM)BCA
Merck (MRK)BCB
American Express (AXP)BDE
Notes | More Info...


Low Price/Book Value StocksP/EP/BYield
Goldman (GS)AAC
JPMorgan Chase (JPM)AAB
Walgreens (WBA)AAA
Travelers (TRV)BAD
Intel (INTC)AAB
Chevron (CVX)CBB
Walt Disney (DIS)EBF
Dow (DOW)ABA
Verizon (VZ)BBA
salesforce.com (CRM)EBF
Notes | More Info...


US Stock SummaryP/EP/BYield
Dow (DOW)YYY
Intel (INTC)YYY
JPMorgan Chase (JPM)YYY
Verizon (VZ)YYY
Walgreens (WBA)YYY
3M (MMM)YY
Chevron (CVX)YY
Goldman (GS)YY
Merck (MRK)YY
Travelers (TRV)YY
American Express (AXP)Y
Amgen (AMGN)Y
IBM (IBM)Y
Walt Disney (DIS)Y
salesforce.com (CRM)Y
Notes...



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2022
  09: 04 11 18
  08: 01 07 14 20 28
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2021
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  11: 06 14 21 28
  10: 03 07 17 24 30
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2020
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2019
  12: 03 11 16 27
  11: 03 08 16 22 27
  10: 04 11 18 22
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  08: 12 19 31
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  01: 01 08 16 22 28
2018
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  10: 09 15 22
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2017
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2016
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2015
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2014
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2013
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2012
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2011
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  06: 05 12 19 26
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2010
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  07: 04 11 16 25
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