The Stingy News Weekly (09/20/2015)
New from StingyInvestor
What's in it for your adviser?
"If you stick to a fairly conservative mix of Canadian bonds - like that offered by the Vanguard Aggregate Bond ETF - you'll likely get similar yields on a before-fee basis. Thing is, the average annual fee for the portfolio I was looking at was 2.1 per cent. Subtract the fee from the expected yield of 1.9 per cent and the investor might expect to lose about 0.6 per cent annually on the bonds. That's not much of an investment." [$]
The state of Canadian dividend stocks
"More positively, yields are relatively high. The average yield provided by Canadian dividend stocks is 4.3% and the median yield is 3.7%. That's more than the paltry yields offered by bank accounts these days, but dividend stocks do come with a side order of risk."
The best way to be smart
"So how then do we channel our inner Munger? In this episode of the a16z Podcast, we discuss how to think about thinking; why the best investors and business leaders spend more time on what they don't know; and how the best way to be smart is to - not be stupid." [Munger]
Life of the McDonald's franchisee
"His final day as a franchisee was a Tuesday last November. He went to the Hastings restaurant that evening to meet Berg. They counted uniforms and emptied the safe of Jarvis's cash. Berg wrote Jarvis a check for the inventory; Jarvis posed for a farewell photo with Snyder. He didn't leave till after midnight. His eyes well up at the memory. 'It's like I sold my family,' he says." [Stocks]
Popping the publishing bubble
"However, while the concern over ad-blockers may be too early, publisher angst is arguably too late: if iOS 9 ad blockers do end up causing serious harm it is only because the publishers have been living in an unsustainable bubble that is going to pop sooner rather than later." [Media]
"The sands they are a-shifting. We have spam blockers, a whole industry trying to weed out bad e-mail, but we can.t get rid of bad ads? Come on." [Media]
TFSAs and OAS
"One of the most intriguing facets of last week's leaders. debate was the determination with which all candidates steered clear of two issues that directly affect your personal bottom line. Anyone listening to the debate would have no clue that ordinary folks feel at all attached to their tax-free savings accounts (TFSAs) or Old Age Security (OAS)." [Retirement]
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