The Stingy News Weekly: 09/17/2019
Stingy Links
Why value investing works
"Greenblatt's simple idea is so insightful. Value investing works
(over the long term) because it sometimes does not work (in the
short term)." [Value Investing]
Low vol is not the new value
"Investors that sort the stock market for cheap stocks are
primarily looking to generate excess returns by buying companies that
might be somewhat unpleasant to hold given firm- or
sector-specific issues. On the other hand, investors buying low-risk stocks
are hoping for equity-like returns with a reduced downside.
These are two fundamentally different investment philosophies." [Markets]
Private equity destroys investors' wealth
"A passive portfolio of small, low EBITDA multiple stocks with
modest leverage and hold-to-maturity accounting produces an
unconditional return distribution that is highly consistent with that
of the pre-fee aggregate private equity index." [Markets]
Thomas Braziel on distressed activism
"Thomas Braziel is the managing partner at 507 Capital, an
investment firm specializing in unlisted credit opportunities. Thomas
hunts for very unusual, off-the-run opportunities in bankruptcy,
and presses his claims through activism, receivership and other
active means." [video] [Value Investing]
The cost of waiting
"My results show that any stock/bond portfolio combination (even
a 100% bond portfolio) would have, on average, outperformed a
24-month DCA into an all-stock portfolio." [Markets]
S&P/TSX60 Value Screens
| High Dividend Yield Stocks | P/E | P/B | P/S | Yield | | Inter Pipeline (IPL) | C | D | D | A |
| Enbridge (ENB) | D | B | C | A |
| Power Corp of Canada (POW) | B | A | A | A |
| CIBC (CM) | A | B | B | A |
| BCE Inc. (BCE) | D | D | D | A |
| Husky Energy (HSE) | A | A | A | A |
| Pembina Pipeline (PPL) | C | C | D | A |
| Bank of Nova Scotia (BNS) | B | B | C | A |
| TELUS (T) | C | D | C | A |
| TC Energy (TRP) | C | C | E | A |
| Notes | More Info... |
| Low Price/Earnings Stocks | P/E | P/B | P/S | Yield | | EnCana (ECA) | A | A | B | D |
| Teck Resources (TECK.B) | A | A | B | E |
| Magna (MG) | A | B | A | C |
| Husky Energy (HSE) | A | A | A | A |
| Manulife (MFC) | A | A | A | B |
| Imperial Oil (IMO) | A | A | B | C |
| Cdn Natural Resources (CNQ) | A | A | C | B |
| Thomson Reuters (TRI) | A | E | E | C |
| CIBC (CM) | A | B | B | A |
| Nutrien (NTR) | A | A | B | B |
| Notes | More Info... |
| Low Price/Book Value Stocks | P/E | P/B | P/S | Yield | | Husky Energy (HSE) | A | A | A | A |
| First Quantum (FM) | B | A | B | E |
| Teck Resources (TECK.B) | A | A | B | E |
| EnCana (ECA) | A | A | B | D |
| Cenovus Energy (CVE) | E | A | A | D |
| Power Corp of Canada (POW) | B | A | A | A |
| Cameco (CCO) | E | A | D | E |
| Manulife (MFC) | A | A | A | B |
| Imperial Oil (IMO) | A | A | B | C |
| Cdn Natural Resources (CNQ) | A | A | C | B |
| Notes | More Info... |
| Canadian Stock Summary | Yield | P/E | P/B | | Husky Energy (HSE) | Y | Y | Y |
| CIBC (CM) | Y | Y | |
| Cdn Natural Resources (CNQ) | | Y | Y |
| EnCana (ECA) | | Y | Y |
| Imperial Oil (IMO) | | Y | Y |
| Manulife (MFC) | | Y | Y |
| Power Corp of Canada (POW) | Y | | Y |
| Teck Resources (TECK.B) | | Y | Y |
| BCE Inc. (BCE) | Y | | |
| Bank of Nova Scotia (BNS) | Y | | |
| Cameco (CCO) | | | Y |
| Cenovus Energy (CVE) | | | Y |
| Enbridge (ENB) | Y | | |
| First Quantum (FM) | | | Y |
| Inter Pipeline (IPL) | Y | | |
| Magna (MG) | | Y | |
| Nutrien (NTR) | | Y | |
| Pembina Pipeline (PPL) | Y | | |
| TC Energy (TRP) | Y | | |
| TELUS (T) | Y | | |
| Thomson Reuters (TRI) | | Y | |
| Notes... |
DOW 30 Value Screens
| High Dividend Yield Stocks | P/E | P/B | P/S | Yield | | Exxon Mobil (XOM) | C | B | A | A |
| IBM (IBM) | A | D | B | A |
| DuPont (DD) | E | A | A | A |
| Verizon (VZ) | B | C | B | A |
| Pfizer (PFE) | B | C | D | A |
| Chevron (CVX) | B | A | B | A |
| 3M (MMM) | C | E | C | B |
| Walgreens (WBA) | A | B | A | B |
| Caterpillar (CAT) | A | D | B | B |
| JP Morgan Chase (JPM) | A | A | D | B |
| Notes | More Info... |
| Low Price/Earnings Stocks | P/E | P/B | P/S | Yield | | Goldman Sachs (GS) | A | A | B | C |
| Walgreens (WBA) | A | B | A | B |
| Intel (INTC) | A | B | C | C |
| JP Morgan Chase (JPM) | A | A | D | B |
| Caterpillar (CAT) | A | D | B | B |
| IBM (IBM) | A | D | B | A |
| Travelers (TRV) | B | A | A | D |
| American Express (AXP) | B | C | C | E |
| Verizon (VZ) | B | C | B | A |
| Chevron (CVX) | B | A | B | A |
| Notes | More Info... |
| Low Price/Book Value Stocks | P/E | P/B | P/S | Yield | | Goldman Sachs (GS) | A | A | B | C |
| DuPont (DD) | E | A | A | A |
| Chevron (CVX) | B | A | B | A |
| Travelers (TRV) | B | A | A | D |
| JP Morgan Chase (JPM) | A | A | D | B |
| Exxon Mobil (XOM) | C | B | A | A |
| Walgreens (WBA) | A | B | A | B |
| Walt Disney (DIS) | C | B | D | E |
| United Technologies (UTX) | D | B | B | D |
| Intel (INTC) | A | B | C | C |
| Notes | More Info... |
| US Stock Summary | Yield | P/E | P/B | | Chevron (CVX) | Y | Y | Y |
| JP Morgan Chase (JPM) | Y | Y | Y |
| Walgreens (WBA) | Y | Y | Y |
| Caterpillar (CAT) | Y | Y | |
| DuPont (DD) | Y | | Y |
| Exxon Mobil (XOM) | Y | | Y |
| Goldman Sachs (GS) | | Y | Y |
| IBM (IBM) | Y | Y | |
| Intel (INTC) | | Y | Y |
| Travelers (TRV) | | Y | Y |
| Verizon (VZ) | Y | Y | |
| 3M (MMM) | Y | | |
| American Express (AXP) | | Y | |
| Pfizer (PFE) | Y | | |
| United Technologies (UTX) | | | Y |
| Walt Disney (DIS) | | | Y |
| Notes... |
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