| Patient ETF |
| 05/20/10 | | Tipsheet |
"With stocks sagging, it's time to buff up your watch list of quality companies. That way, you might be able to snag a few should they fall well into bargain territory. Vito's list is a good place to start."
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| Value Destruction |
| 05/05/10 | | Tipsheet |
"Biglari Holdings's (BH) Biglari wasn't content with slapping his name on a company he recently gained control of. No siree. He also moved to line his pockets with a big performance fee ..."
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| Value in the TSX60 |
| 12/16/09 | | Tipsheet |
"Our value scorecard for stocks in the large-cap S&P/TSX60 highlights stocks with the best value ratios. It also alerts you to those with the worst value metrics. The whole list is shown in the spreadsheet below."
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| Altman Z-Scores for the TSX Composite |
| 12/16/09 | | Tipsheet |
"How likely is a firm to go bankrupt? If in doubt, you can just look up its Altman Z-Score. High scores indicate that bankruptcy in the next two years is unlikely. Low scores indicate that the firm is at risk. I've listed the Altman Z-Scores (AltZ) for the stocks in the S&P/TSX Composite below. But you won't find financials in the list because the method was developed for non-financials."
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| Downside by Style |
| 10/19/09 | | Tipsheet |
"Value stocks didn't fare well in the recent downturn. Even high yield stocks, which provided downside protection in past bear markets, did just as poorly as the markets. The winners were growth stocks and dividend growth stocks. "
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| Value's Downside Risk |
| 05/27/09 | | Tipsheet |
"If you had invested in a very simple strategy of buying low price-to-book stocks over the last 40 years [based on the cheapest quintile of the largest 1000 stocks], you'd have made about 200 times your money versus about 60 times your money if you'd invested in the S&P 500. So it's a pretty successful strategy. Now, what I want to focus on are the eight times in the last 40 years that you would have lost 20% in a naive value strategy."
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| Delving into Dividends |
| 03/13/09 | | Tipsheet |
"It might surprise you, but dividends are the primary source of long-term returns for stock investors. From 1900 to 2008 U.S. stocks provided average annual real returns of 6.0% including reinvested dividends. However, without the dividends, U.S. stocks only gained 1.7% a year over the same period. That's why I decided to take a close look at the history of U.S. dividends with the help of Robert Shiller's data."
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| Bear market snapshots |
| 03/06/09 | | Tipsheet |
"Robert Shiller recently updated his S&P500 data to include prices for the month of February. With the new data, and a little update of my own to include today's closing price, I had fun creating a slew of keen graphs."
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| Get A Grip |
| 02/25/09 | | Tipsheet |
"Sure we had a big bubble in 2000, but does a repeat of the 1929-to-1932 crash appear to be a likely scenario? Not really."
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| Real Bubble |
| 02/20/09 | | Tipsheet |
"The graph shows the extent of the bubble and doesn't provide much comfort for housing bulls. Home prices will have to fall much further before reaching median levels."
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