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The Stingy News Weekly: 03/04/2019


New from Norm

Investing at a market peak
"Starting at the market peak in 2000 didn't result in disaster for diligent savers. Instead, they were able to buy more when the market was low and profited over the long term. Young accumulators who fret about investing at a peak should remember they'll be buying more for years to come." [$]


Stingy Links

The private debt crisis
"One of the key and largely overlooked reasons for this disappointing growth is hiding in plain sight: the increasing global burden of private debt - the combination of business debt and household debt. Even though government debt grabs all the headlines, private debt is larger than government debt and has more impact on economic outcomes."
[Debt]

Superstar economy lacks superstars
"Imagine that in the 1960s you were to double the productivity of GM - that would clearly have a huge impact on the economy. If you were to double the productivity of Facebook overnight, it wouldn't even move the needle. Nothing would happen. You would get slightly better targeted ads, but zero impact on the economy"
[Economy]

Bill Gates on Energy
Bill goes nuclear on energy. [video]
[World]

On being wrong
"All of the fundamental investors - the straight-A students - don't want to make an investment with a 40% chance of being wrong. Imagine being an analyst at Viking and pitching stocks with 40% error rates each month: How many disasters would it take before you got fired? In contrast, quantitative investors would look at the base rates and prefer these characteristics."
[Markets]

The MBA Myth and the Cult of the CEO
"MBA programs simply do not produce CEOs who are better at running companies, if performance is measured by stock price return."
[Management]

From Time to a Ponzi scheme
"Spin your radio dial, download a podcast or sit down at your next corporate gathering and you'll have no trouble finding a self-styled financial guru to tell you what to do with your money. What you may not know: Financial experts, even those with bulletproof credentials, may be trying to sell you something."
[Media]

Retirement plans
"Saving for retirement means navigating a potential minefield of high fees and bad advice." [video]
[Retirement]

Too risky
"It's a little odd to pay someone to tell you to do what you should be able to do on your own, but an adviser wouldn't even be necessary if you didn't have a portfolio that scared the bejeezus out of you once every few years. It wouldn't be necessary if you had a portfolio that you could set and forget."
[Behaviour]

The soft side of planning
"To my reading, the rise of the independent financial planner is the most significant financial event of my tenure at Morningstar. We did not anticipate this movement, but it proved crucial to our company's success. More importantly, millions of investors have benefited from this development as financial services began to work for those who purchased them, as opposed to mostly enriching those who sold them. It was a powerful and profound change."
[Brokers]


Value Cryptogram

Decode the following investing quip, which has been encrypted with a substitution cipher. (Punctuation and spaces are unchanged.) Start with a clue: H is I

LKLGVNSLGL YSLGL'Q P ZPGBL FIDDHQQHIW, YSLGL'Q P SHBS CGIJPJHZHYV IU P GHC-IUU.

The answer to last week's cryptogram is:

"Only buy something that you'd be perfectly happy to hold if the market shut down for ten years."



S&P/TSX60 Value Screens

High Dividend Yield StocksP/EP/BP/SYield
Inter Pipeline (IPL)BDDA
Enbridge (ENB)DBBA
ARC Resources (ARX)BADA
BCE Inc. (BCE)CECA
Power Corp of Canada (POW)AAAA
TransCanada (TRP)BDEA
Emera (EMA)BCBA
CIBC (CM)ABCA
Bank of Nova Scotia (BNS)ABCA
Pembina Pipeline (PPL)CDDA
Notes | More Info...


Low Price/Earnings StocksP/EP/BP/SYield
Teck Resources (TECK.B)AABE
Husky Energy (HSE)AAAB
Magna (MG)ACAC
CIBC (CM)ABCA
Manulife (MFC)AABB
National Bank (NA)ACCB
Bank of Nova Scotia (BNS)ABCA
Power Corp of Canada (POW)AAAA
Cdn Natural Resources (CNQ)ABCB
Sun Life Financial (SLF)ABBB
Notes | More Info...


Low Price/Book Value StocksP/EP/BP/SYield
Crescent Point (CPG)FAAE
Teck Resources (TECK.B)AABE
First Quantum (FM)CACE
Husky Energy (HSE)AAAB
Cenovus Energy (CVE)FAAD
Kinross Gold (K)FABF
Goldcorp (G)FADE
ARC Resources (ARX)BADA
Power Corp of Canada (POW)AAAA
Manulife (MFC)AABB
Notes | More Info...


Canadian Stock SummaryYieldP/EP/B
Power Corp of Canada (POW)YYY
ARC Resources (ARX)YY
Bank of Nova Scotia (BNS)YY
CIBC (CM)YY
Husky Energy (HSE)YY
Manulife (MFC)YY
Teck Resources (TECK.B)YY
BCE Inc. (BCE)Y
Cdn Natural Resources (CNQ)Y
Cenovus Energy (CVE)Y
Crescent Point (CPG)Y
Emera (EMA)Y
Enbridge (ENB)Y
First Quantum (FM)Y
Goldcorp (G)Y
Inter Pipeline (IPL)Y
Kinross Gold (K)Y
Magna (MG)Y
National Bank (NA)Y
Pembina Pipeline (PPL)Y
Sun Life Financial (SLF)Y
TransCanada (TRP)Y
Notes...


DOW 30 Value Screens

High Dividend Yield StocksP/EP/BP/SYield
IBM (IBM)BDBA
Verizon (VZ)BCBA
Exxon Mobil (XOM)CBAA
Chevron (CVX)BABA
Coca-Cola (KO)EEEA
Pfizer (PFE)CCEA
JP Morgan Chase (JPM)AACB
Home Depot (HD)CFBB
Procter & Gamble (PG)DCDB
DowDuPont (DWDP)EAAB
Notes | More Info...


Low Price/Earnings StocksP/EP/BP/SYield
Goldman Sachs (GS)AACE
JP Morgan Chase (JPM)AACB
Walgreens (WBA)ABAC
Intel (INTC)ABDC
Caterpillar (CAT)ADBC
American Express (AXP)ACCE
Travelers (TRV)BAAD
Apple (AAPL)BDCD
IBM (IBM)BDBA
Verizon (VZ)BCBA
Notes | More Info...


Low Price/Book Value StocksP/EP/BP/SYield
Goldman Sachs (GS)AACE
DowDuPont (DWDP)EAAB
JP Morgan Chase (JPM)AACB
Chevron (CVX)BABA
Travelers (TRV)BAAD
Exxon Mobil (XOM)CBAA
Walgreens (WBA)ABAC
United Technologies (UTX)CBBD
Intel (INTC)ABDC
Walt Disney (DIS)BBCE
Notes | More Info...


US Stock SummaryYieldP/EP/B
JP Morgan Chase (JPM)YYY
Chevron (CVX)YY
DowDuPont (DWDP)YY
Exxon Mobil (XOM)YY
Goldman Sachs (GS)YY
IBM (IBM)YY
Intel (INTC)YY
Travelers (TRV)YY
Verizon (VZ)YY
Walgreens (WBA)YY
American Express (AXP)Y
Apple (AAPL)Y
Caterpillar (CAT)Y
Coca-Cola (KO)Y
Home Depot (HD)Y
Pfizer (PFE)Y
Procter & Gamble (PG)Y
United Technologies (UTX)Y
Walt Disney (DIS)Y
Notes...



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2019
  11: 03 08
  10: 04 11 18 22
  09: 06 11 17 25
  08: 12 19 31
  07: 07 26 31
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  05: 01 08 15 20 27
  04: 03 13 16 21
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  01: 01 08 16 22 28
2018
  12: 03 11 17 26
  11: 01 05 12 19 26
  10: 09 15 22
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2017
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  11: 06 12 20 27
  10: 01 07 16 23 30
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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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2010
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