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The Stingy News Weekly (02/09/2014)
| "I've seen more people fail because of liquor and leverage -
leverage being borrowed money. You really don't need leverage in this
world much. If you're smart, you're going to make a lot of
money without borrowing." | |
| - Warren Buffett | |
New @ StingyInvestor
Market timing by indexers
"The investing world is awash in simple mechanical strategies
that promise prosperity. But they all suffer from a fundamental
problem: They're well suited to robots, but humans control the
cash. Finding a sound strategy is less than half the challenge for
most people. If they can't stick with it, then it's not very
useful."
Stingy Links
Standing out from the crowd
"Two approaches can be used to assess and monitor the level of
'crowding' in different quantitative strategies. The authors
introduce these measures and present anecdotal evidence suggesting
that many quantitative strategies were crowded in the period
leading up to the global financial crisis."
Smart beta needs to come out of the closet
"Some suggest that Smart Beta blurs the line between active and
passive management. But it's clear to me that Smart Beta is
simply active management in disguise."
Is a smooth ride priced like a Cadillac?
"Here's a sure-fire way to get gouged: Walk onto a car lot, ask a
salesperson to point out the vehicle with the smoothest ride,
then purchase that vehicle regardless of price. It sounds
reckless, but this is not far from the logic individual investors are
using when shopping for the smoothest ride in the stock market."
DOW 30 Value Screens
| High Dividend Yield Stocks | P/E | P/B | P/S | Yield | | AT&T (T) | 5 | 5 | 4 | 5 |
| Verizon (VZ) | 5 | 3 | 4 | 5 |
| Intel (INTC) | 4 | 4 | 3 | 5 |
| General Electric (GE) | 2 | 5 | 3 | 5 |
| Chevron (CVX) | 5 | 5 | 5 | 5 |
| McDonald's (MCD) | 3 | 1 | 2 | 5 |
| Pfizer (PFE) | 5 | 4 | 1 | 4 |
| Merck (MRK) | 1 | 3 | 1 | 4 |
| Procter & Gamble (PG) | 1 | 3 | 2 | 4 |
| Cisco (CSCO) | 4 | 4 | 2 | 4 |
| Notes | More Info... |
| Low Price/Earnings Stocks | P/E | P/B | P/S | Yield | | Travelers (TRV) | 5 | 5 | 4 | 2 |
| AT&T (T) | 5 | 5 | 4 | 5 |
| Pfizer (PFE) | 5 | 4 | 1 | 4 |
| Chevron (CVX) | 5 | 5 | 5 | 5 |
| Goldman Sachs (GS) | 5 | 5 | 3 | 1 |
| Verizon (VZ) | 5 | 3 | 4 | 5 |
| IBM (IBM) | 4 | 1 | 3 | 2 |
| EI DuPont (DD) | 4 | 2 | 4 | 3 |
| Exxon Mobil (XOM) | 4 | 4 | 5 | 3 |
| Cisco (CSCO) | 4 | 4 | 2 | 4 |
| Notes | More Info... |
| Value Ratio Stocks | P/E | P/B | P/S | Yield | V.R. | | AT&T (T) | 5 | 5 | 4 | 5 | 1.67 |
| Verizon (VZ) | 5 | 3 | 4 | 5 | 2.54 |
| Chevron (CVX) | 5 | 5 | 5 | 5 | 2.81 |
| Pfizer (PFE) | 5 | 4 | 1 | 4 | 2.88 |
| Travelers (TRV) | 5 | 5 | 4 | 2 | 3.32 |
| Intel (INTC) | 4 | 4 | 3 | 5 | 3.46 |
| Cisco (CSCO) | 4 | 4 | 2 | 4 | 3.98 |
| EI DuPont (DD) | 4 | 2 | 4 | 3 | 4.08 |
| Microsoft (MSFT) | 3 | 2 | 1 | 4 | 4.37 |
| Exxon Mobil (XOM) | 4 | 4 | 5 | 3 | 4.55 |
| Notes | More Info... |
| US Stock Summary | Yield | P/E | V.R. | | AT&T (T) | Y | Y | Y |
| Chevron (CVX) | Y | Y | Y |
| Cisco (CSCO) | Y | Y | Y |
| Pfizer (PFE) | Y | Y | Y |
| Verizon (VZ) | Y | Y | Y |
| EI DuPont (DD) | | Y | Y |
| Exxon Mobil (XOM) | | Y | Y |
| Intel (INTC) | Y | | Y |
| Travelers (TRV) | | Y | Y |
| General Electric (GE) | Y | | |
| Goldman Sachs (GS) | | Y | |
| IBM (IBM) | | Y | |
| McDonald's (MCD) | Y | | |
| Merck (MRK) | Y | | |
| Microsoft (MSFT) | | | Y |
| Procter & Gamble (PG) | Y | | |
| Notes... |
S&P/TSX60 Value Screens
| High Dividend Yield Stocks | P/E | P/B | P/S | Yield | | TransAlta (TA) | 1 | 3 | 4 | 5 |
| Crescent Point (CPG) | 1 | 4 | 1 | 5 |
| Canadian Oil Sands (COS) | 5 | 2 | 2 | 5 |
| Penn West Petroleum (PWT) | 0 | 5 | 3 | 5 |
| Enerplus (ERF) | 0 | 4 | 2 | 5 |
| BCE Inc. (BCE) | 4 | 1 | 3 | 5 |
| CIBC (CM) | 5 | 3 | 3 | 5 |
| Bank of Montreal (BMO) | 5 | 4 | 3 | 5 |
| National Bank (NA) | 5 | 3 | 3 | 5 |
| Shaw (SJR.B) | 4 | 2 | 3 | 5 |
| Notes | More Info... |
| Low Price/Earnings Stocks | P/E | P/B | P/S | Yield | | Metro (MRU) | 5 | 3 | 5 | 2 |
| National Bank (NA) | 5 | 3 | 3 | 5 |
| Agrium (AGU) | 5 | 3 | 5 | 3 |
| CIBC (CM) | 5 | 3 | 3 | 5 |
| Bank of Montreal (BMO) | 5 | 4 | 3 | 5 |
| Bombardier (BBD.B) | 5 | 1 | 5 | 3 |
| Canadian Oil Sands (COS) | 5 | 2 | 2 | 5 |
| Bank of Nova Scotia (BNS) | 5 | 3 | 2 | 4 |
| Rogers (RCI.B) | 5 | 1 | 3 | 4 |
| Royal Bank (RY) | 5 | 2 | 2 | 4 |
| Notes | More Info... |
| Value Ratio Stocks | P/E | P/B | P/S | Yield | V.R. | | Canadian Oil Sands (COS) | 5 | 2 | 2 | 5 | 1.76 |
| National Bank (NA) | 5 | 3 | 3 | 5 | 2.22 |
| CIBC (CM) | 5 | 3 | 3 | 5 | 2.42 |
| Bank of Montreal (BMO) | 5 | 4 | 3 | 5 | 2.52 |
| Agrium (AGU) | 5 | 3 | 5 | 3 | 2.88 |
| Bank of Nova Scotia (BNS) | 5 | 3 | 2 | 4 | 2.98 |
| BCE Inc. (BCE) | 4 | 1 | 3 | 5 | 3.12 |
| Rogers (RCI.B) | 5 | 1 | 3 | 4 | 3.27 |
| Royal Bank (RY) | 5 | 2 | 2 | 4 | 3.31 |
| Shaw (SJR.B) | 4 | 2 | 3 | 5 | 3.55 |
| Notes | More Info... |
| Canadian Stock Summary | Yield | P/E | V.R. | | Bank of Montreal (BMO) | Y | Y | Y |
| CIBC (CM) | Y | Y | Y |
| Canadian Oil Sands (COS) | Y | Y | Y |
| National Bank (NA) | Y | Y | Y |
| Agrium (AGU) | | Y | Y |
| BCE Inc. (BCE) | Y | | Y |
| Bank of Nova Scotia (BNS) | | Y | Y |
| Rogers (RCI.B) | | Y | Y |
| Royal Bank (RY) | | Y | Y |
| Shaw (SJR.B) | Y | | Y |
| Bombardier (BBD.B) | | Y | |
| Crescent Point (CPG) | Y | | |
| Enerplus (ERF) | Y | | |
| Metro (MRU) | | Y | |
| Penn West Petroleum (PWT) | Y | | |
| TransAlta (TA) | Y | | |
| Notes... |
The Rothery Report
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| Disclaimers: Consult with a
qualified investment adviser before trading. Past performance is a
poor indicator of future performance. The information on this site,
and in its related newsletters, is not intended to be, nor does it
constitute, financial advice or recommendations. The information on
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