The Stingy News Weekly (06/25/2018)
| "In my whole life, I have known no wise people (over a broad
subject matter area) who didn't read all the time - none, zero. You'd
be amazed at how much Warren reads - at how much I read. My
children laugh at me. They think I'm a book with a couple of legs
sticking out." | |
| - Charlie Munger | |
Stingy Links
Tails, you win
"The S&P 500 gained 108% over the last five years. Twenty-two
companies are responsible for half that gain. Ninety-two companies
made up three-quarters of the returns." [Markets]
In defense of the value premium
"In fact, even though the value premium has been quite large and
persistent over the long term, it has been highly volatile." [Value Investing]
Mistakes were made
"I thought it would be an interesting exercise to look at all the
times where I got it almost entirely wrong, not for
self-abasement, but rather as an exercise in how we can learn from our
mistakes and still go on to do very well in life and our chosen
careers." [Markets]
What you know for sure that just ain't so
"Recently, my colleagues have written two papers questioning
things we thought we knew. The first questions what we really know
about current stock market valuations (e.g., the Shiller CAPE)
forecasting long-horizon future returns. The second questions,
among many other explorations, whether or not the patriarch of the
family of anomalies or factors, the size effect, really exists." [Markets]
Cliff Asness interview
"AQR Capital's Cliff Asness, a rare combination of Great Investor
and Financial Thought Leader shares his views and strategies." [Momentum Investing]
S&P/TSX60 Value Screens
| High Dividend Yield Stocks | P/E | P/B | P/S | Yield | | Inter Pipeline (IPL) | C | D | E | A |
| Enbridge (ENB) | E | B | B | A |
| BCE Inc. (BCE) | C | E | C | A |
| Emera (EMA) | E | B | B | A |
| Power Corp of Canada (POW) | A | A | A | A |
| Pembina Pipeline (PPL) | D | C | E | A |
| TransCanada (TRP) | B | D | E | A |
| CIBC (CM) | A | B | C | A |
| TELUS (T) | C | D | C | A |
| ARC Resources (ARX) | B | A | D | A |
| Notes | More Info... |
| Low Price/Earnings Stocks | P/E | P/B | P/S | Yield | | Cenovus Energy (CVE) | A | A | A | D |
| Metro (MRU) | A | D | A | D |
| Teck Resources (TECK.B) | A | A | B | E |
| Power Corp of Canada (POW) | A | A | A | A |
| Magna (MG) | A | C | A | C |
| CIBC (CM) | A | B | C | A |
| Bank of Nova Scotia (BNS) | A | B | C | A |
| National Bank (NA) | A | C | C | B |
| Dollarama (DOL) | A | F | B | E |
| Kinross Gold (K) | A | A | B | F |
| Notes | More Info... |
| Low Price/Book Value Stocks | P/E | P/B | P/S | Yield | | Crescent Point (CPG) | F | A | B | B |
| Cenovus Energy (CVE) | A | A | A | D |
| Goldcorp (G) | D | A | E | E |
| Teck Resources (TECK.B) | A | A | B | E |
| Power Corp of Canada (POW) | A | A | A | A |
| Kinross Gold (K) | A | A | B | F |
| Husky Energy (HSE) | D | A | B | D |
| First Quantum (FM) | F | A | D | E |
| Cameco (CCO) | F | A | D | C |
| Manulife (MFC) | D | A | A | B |
| Notes | More Info... |
| Canadian Stock Summary | Yield | P/E | P/B | | Power Corp of Canada (POW) | Y | Y | Y |
| CIBC (CM) | Y | Y | |
| Cenovus Energy (CVE) | | Y | Y |
| Kinross Gold (K) | | Y | Y |
| Teck Resources (TECK.B) | | Y | Y |
| ARC Resources (ARX) | Y | | |
| BCE Inc. (BCE) | Y | | |
| Bank of Nova Scotia (BNS) | | Y | |
| Cameco (CCO) | | | Y |
| Crescent Point (CPG) | | | Y |
| Dollarama (DOL) | | Y | |
| Emera (EMA) | Y | | |
| Enbridge (ENB) | Y | | |
| First Quantum (FM) | | | Y |
| Goldcorp (G) | | | Y |
| Husky Energy (HSE) | | | Y |
| Inter Pipeline (IPL) | Y | | |
| Magna (MG) | | Y | |
| Manulife (MFC) | | | Y |
| Metro (MRU) | | Y | |
| National Bank (NA) | | Y | |
| Pembina Pipeline (PPL) | Y | | |
| TELUS (T) | Y | | |
| TransCanada (TRP) | Y | | |
| Notes... |
DOW 30 Value Screens
| High Dividend Yield Stocks | P/E | P/B | P/S | Yield | | Verizon (VZ) | A | C | B | A |
| IBM (IBM) | C | D | A | A |
| Exxon Mobil (XOM) | B | B | A | A |
| General Electric (GE) | F | B | A | A |
| Pfizer (PFE) | A | B | D | A |
| Procter & Gamble (PG) | B | C | C | A |
| Coca-Cola (KO) | E | D | E | B |
| Chevron (CVX) | C | A | B | B |
| Merck (MRK) | E | C | D | B |
| Cisco (CSCO) | F | C | E | B |
| Notes | More Info... |
| Low Price/Earnings Stocks | P/E | P/B | P/S | Yield | | Verizon (VZ) | A | C | B | A |
| Pfizer (PFE) | A | B | D | A |
| Walt Disney (DIS) | A | C | C | E |
| JP Morgan Chase (JPM) | A | A | D | D |
| Travelers (TRV) | A | A | A | C |
| Exxon Mobil (XOM) | B | B | A | A |
| Apple (AAPL) | B | D | D | D |
| Procter & Gamble (PG) | B | C | C | A |
| Goldman Sachs (GS) | B | A | C | E |
| Intel (INTC) | B | B | D | C |
| Notes | More Info... |
| Low Price/Book Value Stocks | P/E | P/B | P/S | Yield | | Goldman Sachs (GS) | B | A | C | E |
| Travelers (TRV) | A | A | A | C |
| DowDuPont (DWDP) | E | A | B | C |
| JP Morgan Chase (JPM) | A | A | D | D |
| Chevron (CVX) | C | A | B | B |
| Exxon Mobil (XOM) | B | B | A | A |
| General Electric (GE) | F | B | A | A |
| Pfizer (PFE) | A | B | D | A |
| United Technologies (UTX) | C | B | B | D |
| Intel (INTC) | B | B | D | C |
| Notes | More Info... |
| US Stock Summary | Yield | P/E | P/B | | Exxon Mobil (XOM) | Y | Y | Y |
| Pfizer (PFE) | Y | Y | Y |
| Chevron (CVX) | Y | | Y |
| General Electric (GE) | Y | | Y |
| Goldman Sachs (GS) | | Y | Y |
| Intel (INTC) | | Y | Y |
| JP Morgan Chase (JPM) | | Y | Y |
| Procter & Gamble (PG) | Y | Y | |
| Travelers (TRV) | | Y | Y |
| Verizon (VZ) | Y | Y | |
| Apple (AAPL) | | Y | |
| Cisco (CSCO) | Y | | |
| Coca-Cola (KO) | Y | | |
| DowDuPont (DWDP) | | | Y |
| IBM (IBM) | Y | | |
| Merck (MRK) | Y | | |
| United Technologies (UTX) | | | Y |
| Walt Disney (DIS) | | Y | |
| Notes... |
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