The Stingy News Weekly (03/03/2013)
| "The first principle is that you must not fool yourself - and you
are the easiest person to fool." | |
| - Richard Feynman | |
Stingy Links
How not to run a pension fund
"I love alternative investments. I love Wall Street. I don't mind
paying fees. But I want returns."
We aren't the world
"It is not just our Western habits and cultural preferences that
are different from the rest of the world, it appears. The very
way we think about ourselves and others - and even the way we
perceive reality - makes us distinct from other humans on the
planet, not to mention from the vast majority of our ancestors. Among
Westerners, the data showed that Americans were often the most
unusual, leading the researchers to conclude that 'American
participants are exceptional even within the unusual population of
Westerners - outliers among outliers.' Given the data, they
concluded that social scientists could not possibly have picked a
worse population from which to draw broad generalizations.
Researchers had been doing the equivalent of studying penguins while
believing that they were learning insights applicable to all
birds."
The gross profitability premium
"Profitability, measured by gross profits-to-assets, has roughly
the same power as book-to-market predicting the cross-section of
average returns. Profitable firms generate significantly higher
returns than unprofitable firms, despite having significantly
higher valuation ratios. Controlling for profitability also
dramatically increases the performance of value strategies,
especially among the largest, most liquid stocks"
Buffett's annual letter
"wishing makes dreams come true only in Disney movies; it's
poison in business."
DOW 30 Value Screens
| High Dividend Yield Stocks | P/E | P/B | P/S | Yield | | AT&T (T) | 1 | 4 | 3 | 5 |
| Verizon (VZ) | 1 | 2 | 4 | 5 |
| Intel (INTC) | 5 | 4 | 3 | 5 |
| Merck (MRK) | 2 | 4 | 1 | 5 |
| Pfizer (PFE) | 4 | 3 | 1 | 5 |
| EI DuPont (DD) | 3 | 1 | 4 | 5 |
| Microsoft (MSFT) | 3 | 3 | 1 | 4 |
| General Electric (GE) | 2 | 4 | 3 | 4 |
| McDonald's (MCD) | 2 | 1 | 1 | 4 |
| Johnson & Johnson (JNJ) | 1 | 2 | 1 | 4 |
| Notes | More Info... |
| Low Price/Earnings Stocks | P/E | P/B | P/S | Yield | | Chevron (CVX) | 5 | 5 | 4 | 4 |
| Exxon Mobil (XOM) | 5 | 3 | 5 | 3 |
| JP Morgan Chase (JPM) | 5 | 5 | 3 | 2 |
| Intel (INTC) | 5 | 4 | 3 | 5 |
| UnitedHealth (UNH) | 5 | 4 | 5 | 1 |
| Caterpillar (CAT) | 4 | 2 | 4 | 2 |
| Cisco (CSCO) | 4 | 4 | 2 | 3 |
| Travelers (TRV) | 4 | 5 | 4 | 2 |
| IBM (IBM) | 4 | 1 | 2 | 1 |
| Pfizer (PFE) | 4 | 3 | 1 | 5 |
| Notes | More Info... |
| Value Ratio Stocks | P/E | P/B | P/S | Yield | V.R. | | Intel (INTC) | 5 | 4 | 3 | 5 | 2.24 |
| Chevron (CVX) | 5 | 5 | 4 | 4 | 2.83 |
| Exxon Mobil (XOM) | 5 | 3 | 5 | 3 | 3.55 |
| JP Morgan Chase (JPM) | 5 | 5 | 3 | 2 | 3.92 |
| Pfizer (PFE) | 4 | 3 | 1 | 5 | 3.93 |
| Cisco (CSCO) | 4 | 4 | 2 | 3 | 4.44 |
| Microsoft (MSFT) | 3 | 3 | 1 | 4 | 4.52 |
| EI DuPont (DD) | 3 | 1 | 4 | 5 | 4.53 |
| Caterpillar (CAT) | 4 | 2 | 4 | 2 | 4.68 |
| Merck (MRK) | 2 | 4 | 1 | 5 | 4.80 |
| Notes | More Info... |
| US Stock Summary | Yield | P/E | V.R. | | Intel (INTC) | Y | Y | Y |
| Pfizer (PFE) | Y | Y | Y |
| Caterpillar (CAT) | | Y | Y |
| Chevron (CVX) | | Y | Y |
| Cisco (CSCO) | | Y | Y |
| EI DuPont (DD) | Y | | Y |
| Exxon Mobil (XOM) | | Y | Y |
| JP Morgan Chase (JPM) | | Y | Y |
| Merck (MRK) | Y | | Y |
| Microsoft (MSFT) | Y | | Y |
| AT&T (T) | Y | | |
| General Electric (GE) | Y | | |
| IBM (IBM) | | Y | |
| Johnson & Johnson (JNJ) | Y | | |
| McDonald's (MCD) | Y | | |
| Travelers (TRV) | | Y | |
| UnitedHealth (UNH) | | Y | |
| Verizon (VZ) | Y | | |
| Notes... |
S&P/TSX60 Value Screens
| High Dividend Yield Stocks | P/E | P/B | P/S | Yield | | Penn West Petroleum (PWT) | 1 | 5 | 4 | 5 |
| Enerplus (ERF) | 0 | 5 | 2 | 5 |
| TransAlta (TA) | 0 | 3 | 4 | 5 |
| Crescent Point (CPG) | 1 | 3 | 1 | 5 |
| Canadian Oil Sands (COS) | 5 | 2 | 2 | 5 |
| BCE Inc. (BCE) | 4 | 1 | 3 | 5 |
| Sun Life Financial (SLF) | 5 | 5 | 5 | 5 |
| Bank of Montreal (BMO) | 5 | 4 | 3 | 5 |
| ARC Resources (ARX) | 1 | 2 | 1 | 5 |
| CIBC (CM) | 5 | 2 | 3 | 5 |
| Notes | More Info... |
| Low Price/Earnings Stocks | P/E | P/B | P/S | Yield | | First Quantum (FM) | 5 | 3 | 2 | 1 |
| Iamgold (IMG) | 5 | 5 | 4 | 4 |
| National Bank (NA) | 5 | 3 | 3 | 4 |
| Magna (MG) | 5 | 4 | 5 | 2 |
| Imperial Oil (IMO) | 5 | 2 | 4 | 1 |
| Canadian Oil Sands (COS) | 5 | 2 | 2 | 5 |
| CIBC (CM) | 5 | 2 | 3 | 5 |
| Bank of Montreal (BMO) | 5 | 4 | 3 | 5 |
| Agrium (AGU) | 5 | 2 | 4 | 2 |
| Sun Life Financial (SLF) | 5 | 5 | 5 | 5 |
| Notes | More Info... |
| Value Ratio Stocks | P/E | P/B | P/S | Yield | V.R. | | Canadian Oil Sands (COS) | 5 | 2 | 2 | 5 | 1.55 |
| Iamgold (IMG) | 5 | 5 | 4 | 4 | 1.96 |
| National Bank (NA) | 5 | 3 | 3 | 4 | 1.96 |
| Sun Life Financial (SLF) | 5 | 5 | 5 | 5 | 2.15 |
| Bank of Montreal (BMO) | 5 | 4 | 3 | 5 | 2.29 |
| CIBC (CM) | 5 | 2 | 3 | 5 | 2.34 |
| Penn West Petroleum (PWT) | 1 | 5 | 4 | 5 | 2.44 |
| BCE Inc. (BCE) | 4 | 1 | 3 | 5 | 2.71 |
| Power Corp of Canada (POW) | 4 | 4 | 5 | 4 | 2.83 |
| Thomson Reuters (TRI) | 4 | 4 | 3 | 4 | 2.86 |
| 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 |
| Sun Life Financial (SLF) | Y | Y | Y |
| BCE Inc. (BCE) | Y | | Y |
| Iamgold (IMG) | | Y | Y |
| National Bank (NA) | | Y | Y |
| Penn West Petroleum (PWT) | Y | | Y |
| ARC Resources (ARX) | Y | | |
| Agrium (AGU) | | Y | |
| Crescent Point (CPG) | Y | | |
| Enerplus (ERF) | Y | | |
| First Quantum (FM) | | Y | |
| Imperial Oil (IMO) | | Y | |
| Magna (MG) | | Y | |
| Power Corp of Canada (POW) | | | Y |
| Thomson Reuters (TRI) | | | Y |
| TransAlta (TA) | Y | | |
| Notes... |
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