The Stingy News Weekly (12/28/01)
The Markets This Week
DOW 30: 10,136.99 +1.01% to a P/E of 28.0
TSE 300: 7,674.97 +1.95% with a negative P/E
The Value View
Dow at a P/E of 20: 7,241 (-28.6%) Poor Value
Dow at a P/E of 15: 5,431 (-46.4%) Fair Value
Dow at a P/E of 10: 3,620 (-64.3%) Good Value
One plus one makes what?
"Where were the auditors? People ask that question after every corporate collapse, and lately they've been asking it with disturbing frequency. At Waste Management, Sunbeam, Rite Aid, Xerox, and Lucent, major accounting firms either missed or ignored serious problems."
Not a better mousetrap
"Given the benefits of ETFs, holders of Vanguard's index funds are likely wondering whether they should dump their open-end shares and buy VIPERs instead. For most investors, according to financial analysts and advisers, the answer is no."
17 reasons to worry about an investment
"Your investment in XYZ Corp. is about to tank. What are the danger signs?"
The boardroom follies
"Somewhere around the last recession (1990-91) it dawned on America's shareholders that when something goes hugely wrong at a company, the buck stops at the board. Thus began a great campaign, still going strong, to improve corporate governance. Its cause is noble, and it has won a lot of victories. "
Ten things your financial planner won't tell you
"The majority of financial planners work on commission, which doesn't make them bad people but can make for bad financial planning. When Irvine, Calif.-based CFP Scott Dauenhauer worked as an adviser at a few big-name brokerage firms during the '90s, he says he was constantly being pushed into selling the firm's proprietary "
Novel ways to give to charity
"Have you made your final charitable donations for 2001 yet? There's no better time than today to make plans for a generous gift to help those in need. Consider these few ideas to make your charitable giving more effective."
Christmas movies and bad economics
"But let's talk Christmas turkey. The engine driving the "commercialization" of Christmas is, quite simply, children's desire for presents. As every parent soon discovers, it is not the thought that counts for young children, but the goods. They want nice toys, which do not come free. They have to be made, and the cost of making them has to be recouped."
The trivia questions this week are:
Q1. How many Canadian mutual funds existed in 1980?
Q2. How many Canadian mutual funds existed in 1990?
Q3. How many Canadian mutual funds existed in 2000?
The answers for last week's trivia questions are:
Q1. How much has the DJIA gained since September 11 2001?
Q2. How much has the S&P500 gained since September 11 2001?
Q3. How much has the TSE300 gained since September 11 2001?
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