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The Stingy News Weekly (03/17/2013)


"We attracted a lot of market timers and asset allocators. I don't need those ... amateurs in my fund."
- Martin Whitman


New @ StingyInvestor

The search for balance
"Even low-fee tax-optimized balanced portfolios face difficulties today because the yield on Canadian bonds is very low. To get a real return of 5 per cent on an equally mixed stock and bond portfolio you'd need to see stocks gain more than 9 per cent a year, which seems unlikely at this point. Because most people wind up in reasonably balanced portfolios, it's more critical than ever to avoid high fees. Unless, of course, they're keen on the Freedom 75 plan."


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Retirement is cheaper than you think
"The Statistics Canada Survey of Household Spending for 2010 found senior couples on average spent a combined $53,100 a year (including money paid to income tax). From looking at that figure as well as talking to seniors and their advisers, I estimate that a retirement lifestyle that you might call middle class or a bit better costs about $40,000 to $70,000 per couple (also including income tax payments)."


Would the real Peter and Paul please stand up?
"But we must also understand that exchange is only possible to the extent that people trust each other: when eating in a restaurant we trust the chef not to put things in our food; when hiring a builder we trust him to build a wall which won.t fall down; when we book a fl ight we entrust our lives and the lives of our families to complete strangers. Trust is social bonding and societies without it are stalked by social unrest, upheaval or even war. Distrust is a brake on prosperity, because distrust is a brake on exchange."


Trust & growth
"Trust is core to all economic activity. You only want to act if you think you will not be cheated. Poor societies are often characterized by a lack of trust, which hampers exchange, and hampers credit as well. To the degree that you doubt that you will be rewarded for the fruits of your labor, you will face frictional costs in doing business, and you might reduce your business in areas that don.t seem to be worth the risk."


Unfair, short-sighted and self-defeating
"The logic behind both of these reform initiatives is that bank deposits have two, contradictory properties. They are both sticky, because they are insured; and they are flighty, because they can be pulled instantly. So deposits are a good source of funding provided they never run. The Cyprus bail-out makes this confidence trick harder to pull off."


Levy on bank deposits
"They call Sicily the island of the mafia. It's not Sicily, it's Cyprus. This is theft, pure and simple"



DOW 30 Value Screens

High Dividend Yield StocksP/EP/BP/SYield
AT&T (T)1435
Intel (INTC)5435
Verizon (VZ)1245
Merck (MRK)1315
Pfizer (PFE)4315
EI DuPont (DD)3145
Microsoft (MSFT)3314
General Electric (GE)2434
McDonald's (MCD)2114
Johnson & Johnson (JNJ)2214
Notes | More Info...


Low Price/Earnings StocksP/EP/BP/SYield
Chevron (CVX)5544
Exxon Mobil (XOM)5443
JP Morgan Chase (JPM)5533
Intel (INTC)5435
UnitedHealth (UNH)5551
Caterpillar (CAT)4252
Cisco (CSCO)4423
Travelers (TRV)4542
Wal-Mart (WMT)4353
Pfizer (PFE)4315
Notes | More Info...


Value Ratio StocksP/EP/BP/SYieldV.R.
Intel (INTC)54352.39
Chevron (CVX)55442.99
Exxon Mobil (XOM)54433.69
JP Morgan Chase (JPM)55334.01
Pfizer (PFE)43154.25
Caterpillar (CAT)42524.56
Microsoft (MSFT)33144.67
Cisco (CSCO)44234.85
EI DuPont (DD)31454.98
Wal-Mart (WMT)43535.55
Notes | More Info...


US Stock SummaryYieldP/EV.R.
Intel (INTC)YYY
Pfizer (PFE)YYY
Caterpillar (CAT)YY
Chevron (CVX)YY
Cisco (CSCO)YY
EI DuPont (DD)YY
Exxon Mobil (XOM)YY
JP Morgan Chase (JPM)YY
Microsoft (MSFT)YY
Wal-Mart (WMT)YY
AT&T (T)Y
General Electric (GE)Y
Johnson & Johnson (JNJ)Y
McDonald's (MCD)Y
Merck (MRK)Y
Travelers (TRV)Y
UnitedHealth (UNH)Y
Verizon (VZ)Y
Notes...



S&P/TSX60 Value Screens

High Dividend Yield StocksP/EP/BP/SYield
Penn West Petroleum (PWT)1535
TransAlta (TA)0345
Enerplus (ERF)0525
Crescent Point (CPG)1315
Canadian Oil Sands (COS)5225
Sun Life Financial (SLF)5455
BCE Inc. (BCE)4135
Bank of Montreal (BMO)5435
CIBC (CM)5235
ARC Resources (ARX)1215
Notes | More Info...


Low Price/Earnings StocksP/EP/BP/SYield
First Quantum (FM)5311
Iamgold (IMG)5543
National Bank (NA)5335
Magna (MG)5453
Imperial Oil (IMO)5241
CIBC (CM)5235
Bank of Montreal (BMO)5435
Canadian Oil Sands (COS)5225
Agrium (AGU)5242
Sun Life Financial (SLF)5455
Notes | More Info...


Value Ratio StocksP/EP/BP/SYieldV.R.
Canadian Oil Sands (COS)52251.63
National Bank (NA)53351.91
Iamgold (IMG)55432.19
Sun Life Financial (SLF)54552.21
CIBC (CM)52352.31
Bank of Montreal (BMO)54352.31
BCE Inc. (BCE)41352.80
Bank of Nova Scotia (BNS)43242.88
Royal Bank (RY)42242.98
TD Bank (TD)43243.18
Notes | More Info...


Canadian Stock SummaryYieldP/EV.R.
Bank of Montreal (BMO)YYY
CIBC (CM)YYY
Canadian Oil Sands (COS)YYY
Sun Life Financial (SLF)YYY
BCE Inc. (BCE)YY
Iamgold (IMG)YY
National Bank (NA)YY
ARC Resources (ARX)Y
Agrium (AGU)Y
Bank of Nova Scotia (BNS)Y
Crescent Point (CPG)Y
Enerplus (ERF)Y
First Quantum (FM)Y
Imperial Oil (IMO)Y
Magna (MG)Y
Penn West Petroleum (PWT)Y
Royal Bank (RY)Y
TD Bank (TD)Y
TransAlta (TA)Y
Notes...



The Rothery Report
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The Rothery Report provides research on select deep-value stocks in North America. Discover overlooked and undervalued stocks in quarterly investment reports which provide detailed analysis of Canadian and U.S. stocks. Weekly email news and additional updates keep subscribers informed about new opportunities and developments.

Rothery Report Performance
(03/31/2001 to 12/31/2012)
Average Capital Gain
40.8%



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