The Stingy News Weekly (02/12/2018)
| "The stock market is filled with individuals who know the price of
everything, but the value of nothing." | |
| - Philip Fisher | |
Stingy Links
Lessons from Waffle House
"You go in there and everyone's drunk. You know everyone's drunk
in Waffle House because they have pictures of the food on the
menu. How drunk do you have to be to not remember what a waffle
looks like?" [Management]
Risk parity derangement syndrome
"You may have noticed the market turbulence lately. You may have
also noticed the legion of commentators among the media,
politicians, and famous investors, blaming this turbulence on 'risk
parity,' 'trend-following strategies,' or my favorite, just 'the
machines.' Poppycock. Yes, it's come to this; they've driven me to
swear like Mrs. Doubtfire." [Markets]
Rent control needs retirement
"If politicians actually want to make sure everyone who needs a
place to rest their head has one, there's only one way to do it:
Build more housing. Which means, in turn, loosening the legal
restrictions and community veto points that make it so hard to add
supply. Because there's no way to escape the fundamental math:
Unless you build enough housing to shelter the people who want
to live in your city, a whole lot of people will be left out in
the cold." [Government]
Why competitive advantages die
"The only thing harder than gaining a competitive edge is not
losing that advantage when you have one. That's as true for careers
and investment strategies as it is for business. And since
people are naturally optimistic, there's a tendency to put more
thought into finding an edge than not losing it once you find one." [Management]
S&P/TSX60 Value Screens
| High Dividend Yield Stocks | P/E | P/B | P/S | Yield | | Inter Pipeline (IPL) | 3 | 2 | 1 | 5 |
| Enbridge (ENB) | 2 | 4 | 4 | 5 |
| Emera (EMA) | 3 | 4 | 4 | 5 |
| Pembina Pipeline (PPL) | 2 | 2 | 2 | 5 |
| BCE Inc. (BCE) | 3 | 1 | 3 | 5 |
| Power Corp of Canada (POW) | 5 | 5 | 5 | 5 |
| ARC Resources (ARX) | 5 | 4 | 2 | 5 |
| TransCanada (TRP) | 2 | 2 | 2 | 5 |
| Shaw (SJR.B) | 4 | 2 | 3 | 5 |
| CIBC (CM) | 5 | 3 | 3 | 5 |
| Notes | More Info... |
| Low Price/Earnings Stocks | P/E | P/B | P/S | Yield | | Cenovus Energy (CVE) | 5 | 5 | 5 | 3 |
| Valeant Pharma (VRX) | 5 | 5 | 5 | 0 |
| Metro (MRU) | 5 | 2 | 5 | 3 |
| Barrick Gold (ABX) | 5 | 4 | 4 | 1 |
| Teck Resources (TECK.B) | 5 | 5 | 4 | 1 |
| Power Corp of Canada (POW) | 5 | 5 | 5 | 5 |
| Thomson Reuters (TRI) | 5 | 2 | 3 | 4 |
| Magna (MG) | 5 | 3 | 5 | 3 |
| ARC Resources (ARX) | 5 | 4 | 2 | 5 |
| CIBC (CM) | 5 | 3 | 3 | 5 |
| Notes | More Info... |
| Low Price/Book Value Stocks | P/E | P/B | P/S | Yield | | Cenovus Energy (CVE) | 5 | 5 | 5 | 3 |
| Crescent Point (CPG) | 0 | 5 | 4 | 4 |
| Goldcorp (G) | 2 | 5 | 2 | 1 |
| Cameco (CCO) | 0 | 5 | 4 | 4 |
| Husky Energy (HSE) | 1 | 5 | 5 | 0 |
| Power Corp of Canada (POW) | 5 | 5 | 5 | 5 |
| Teck Resources (TECK.B) | 5 | 5 | 4 | 1 |
| First Quantum (FM) | 0 | 5 | 2 | 1 |
| Kinross Gold (K) | 1 | 5 | 4 | 0 |
| Imperial Oil (IMO) | 4 | 5 | 4 | 2 |
| Notes | More Info... |
| Canadian Stock Summary | Yield | P/E | P/B | | Power Corp of Canada (POW) | Y | Y | Y |
| ARC Resources (ARX) | Y | Y | |
| CIBC (CM) | Y | Y | |
| Cenovus Energy (CVE) | | Y | Y |
| Teck Resources (TECK.B) | | Y | Y |
| BCE Inc. (BCE) | Y | | |
| Barrick Gold (ABX) | | Y | |
| Cameco (CCO) | | | Y |
| Crescent Point (CPG) | | | Y |
| Emera (EMA) | Y | | |
| Enbridge (ENB) | Y | | |
| First Quantum (FM) | | | Y |
| Goldcorp (G) | | | Y |
| Husky Energy (HSE) | | | Y |
| Imperial Oil (IMO) | | | Y |
| Inter Pipeline (IPL) | Y | | |
| Kinross Gold (K) | | | Y |
| Magna (MG) | | Y | |
| Metro (MRU) | | Y | |
| Pembina Pipeline (PPL) | Y | | |
| Shaw (SJR.B) | Y | | |
| Thomson Reuters (TRI) | | Y | |
| TransCanada (TRP) | Y | | |
| Valeant Pharma (VRX) | | Y | |
| Notes... |
DOW 30 Value Screens
| High Dividend Yield Stocks | P/E | P/B | P/S | Yield | | Verizon (VZ) | 5 | 2 | 5 | 5 |
| Exxon Mobil (XOM) | 5 | 4 | 5 | 5 |
| IBM (IBM) | 3 | 2 | 4 | 5 |
| Pfizer (PFE) | 5 | 4 | 2 | 5 |
| Chevron (CVX) | 3 | 5 | 4 | 5 |
| Merck (MRK) | 1 | 3 | 2 | 5 |
| Procter & Gamble (PG) | 4 | 3 | 3 | 4 |
| Coca-Cola (KO) | 1 | 2 | 1 | 4 |
| General Electric (GE) | 0 | 4 | 5 | 4 |
| Cisco (CSCO) | 4 | 4 | 2 | 4 |
| Notes | More Info... |
| Low Price/Earnings Stocks | P/E | P/B | P/S | Yield | | Verizon (VZ) | 5 | 2 | 5 | 5 |
| Pfizer (PFE) | 5 | 4 | 2 | 5 |
| Walt Disney (DIS) | 5 | 3 | 3 | 2 |
| Exxon Mobil (XOM) | 5 | 4 | 5 | 5 |
| Apple (AAPL) | 5 | 2 | 2 | 1 |
| JP Morgan Chase (JPM) | 4 | 5 | 2 | 2 |
| Travelers (TRV) | 4 | 5 | 5 | 3 |
| UnitedHealth (UNH) | 4 | 3 | 5 | 1 |
| Cisco (CSCO) | 4 | 4 | 2 | 4 |
| Procter & Gamble (PG) | 4 | 3 | 3 | 4 |
| Notes | More Info... |
| Low Price/Book Value Stocks | P/E | P/B | P/S | Yield | | Goldman Sachs (GS) | 2 | 5 | 3 | 1 |
| Chevron (CVX) | 3 | 5 | 4 | 5 |
| Travelers (TRV) | 4 | 5 | 5 | 3 |
| DowDuPont (DWDP) | 1 | 5 | 3 | 3 |
| JP Morgan Chase (JPM) | 4 | 5 | 2 | 2 |
| Exxon Mobil (XOM) | 5 | 4 | 5 | 5 |
| General Electric (GE) | 0 | 4 | 5 | 4 |
| Intel (INTC) | 3 | 4 | 2 | 4 |
| Cisco (CSCO) | 4 | 4 | 2 | 4 |
| United Technologies (UTX) | 4 | 4 | 4 | 3 |
| Notes | More Info... |
| US Stock Summary | Yield | P/E | P/B | | Cisco (CSCO) | Y | Y | Y |
| Exxon Mobil (XOM) | Y | Y | Y |
| Chevron (CVX) | Y | | Y |
| General Electric (GE) | Y | | Y |
| JP Morgan Chase (JPM) | | Y | Y |
| Pfizer (PFE) | Y | Y | |
| Procter & Gamble (PG) | Y | Y | |
| Travelers (TRV) | | Y | Y |
| Verizon (VZ) | Y | Y | |
| Apple (AAPL) | | Y | |
| Coca-Cola (KO) | Y | | |
| DowDuPont (DWDP) | | | Y |
| Goldman Sachs (GS) | | | Y |
| IBM (IBM) | Y | | |
| Intel (INTC) | | | Y |
| Merck (MRK) | Y | | |
| United Technologies (UTX) | | | Y |
| UnitedHealth (UNH) | | Y | |
| Walt Disney (DIS) | | Y | |
| Notes... |
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