Most Recent Stingy News
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| The Stingy News Weekly: August 19, 2019 |
| 08/19/19 :7:53 PM EST | SNW |
| This week we have the behaviour gap, recessions, Buffett's banks, and more. |
| More SNW: The Stingy News Weekly: August 12, 2019 |
| The Stingy News Weekly: July 31, 2019 |
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| Buffett is buying banks |
| 08/19/19 7:34 PM EST | Buffett |
| "Warren E. Buffett's Berkshire Hathaway has been building its position in banks over the past year. It is now among the five biggest shareholders in Bank of America, JPMorgan Chase, Wells Fargo, Goldman Sachs, U.S. Bancorp and Bank of New York and owns big stakes in others. Its latest disclosure of its holdings showed that the firm had added to its positions in some of those companies in the second quarter." |
| More Buffett: Berkshire Hathaway AGM |
| Warren Buffett, Charlie Munger and Bill Gates |
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| Recession probability |
| 08/19/19 7:26 PM EST | Markets |
| "If the rest of August is like the first half, then the probability of recession in August 2020 is 47%." |
| More Markets: Low vol rises |
| 200 years of safe withdrawal rates |
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| Advantage flywheels |
| 08/19/19 7:22 PM EST | Moats |
| "In systems thinking, reinforcing feedback loops are almost always slowed by a balancing loop attached to it. Growth doesn't continue unchecked, and flywheels always run into friction. Some of these limiting factors are overcome, others are so strong they stop or reverse the entire growth engine." |
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| Mind the Gap 2019 |
| 08/19/19 5:31 PM EST | Funds |
| "On the one hand, allocation funds produced a positive gap of 0.22% on annualized returns of 5.54%. A positive gap means a majority of the money going in was well-timed. The reasons are instructive about what works best for investors." |
| More Funds: 2018 Morningstar fee study |
| OSAM Q1 letter |
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| How painful can factor investing get? |
| 08/19/19 5:19 PM EST | Value Investing |
| Very |
| More Value Investing: Fraud spotting |
| Vol can be improved |
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| Lyme disease is baffling |
| 08/19/19 5:15 PM EST | Health |
| "We now have not only a plausible explanation but also a potential solution for patients who suffer from persistent Lyme-disease symptoms despite standard single-antibiotic treatment" |
| More Health: Home kidney dialysis |
| When the body attacks the mind |
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| The Stingy News Weekly: August 12, 2019 |
| 08/12/19 :8:24 PM EST | SNW |
| This week we have rebalancing, low vol, bankruptcy, BBQ, and more. |
| More SNW: The Stingy News Weekly: July 31, 2019 |
| The Stingy News Weekly: July 26, 2019 |
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| Sludgy advice |
| 08/12/19 5:38 PM EST | Stingy Investing |
| "Investors should be mindful that the application of behavioural technology can be used for both good and ill. Conscientious advisers will use it to help their clients, while others will use it on their clients to their detriment." [$] |
| More Stingy Investing: The Frugal Dividend portfolio |
| Dividends plus low vol |
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| LBOs go bankrupt more often |
| 08/12/19 5:35 PM EST | Bonds |
| "Healthy companies acquired by private equity firms through leveraged buyouts see their probability of defaulting on loans increase ten-fold, new research shows." |
| More Bonds: Sovereign bonds since Waterloo |
| A bad bond idea |
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| Finance books in one sentence |
| 08/12/19 5:33 PM EST | Books |
| "Give yourself a margin of safety because Mr. Market can be insane." |
| More Books: The Next Millionaire Next Door |
| 5 books I loved in 2018 |
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| Low vol rises |
| 08/12/19 5:25 PM EST | Markets |
| "In this short research note, we will investigate if the Low Volatility factor has changed structurally over the last 30 years as its status changed from obscurity to a common staple in investment portfolios." |
| More Markets: 200 years of safe withdrawal rates |
| Opposite of conventional wisdom |
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| Portfolio rebalancing |
| 08/12/19 5:22 PM EST | Hallett |
| "Our analysis suggests that rebalancing every 2-3 years on average (over time) is likely to be sufficient. Accordingly, a rebalancing method that involves frequent monitoring but infrequent action should nicely balance the goal of controlling risk exposure with capturing the benefits of momentum." |
| More Hallett: DSCs should be banned |
| Send your wealth up in smoke |
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| How much it costs to make BBQ |
| 08/12/19 5:21 PM EST | Pricing |
| "This balancing act plays out on menu at Adamson Barbecue in Leaside, where the smoked brisket takes 24 hours to make and sells for $30 per pound - of which only $2.14 is profit." |
| More Pricing: Unbelievable bargains |
| Why one size doesn't fit all |
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| The Stingy News Weekly: July 31, 2019 |
| 07/31/19 :7:52 PM EST | SNW |
| This week we have innovation, withdrawal rates, age, and more. |
| More SNW: The Stingy News Weekly: July 26, 2019 |
| The Stingy News Weekly: July 7, 2019 |
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| Fraud spotting |
| 07/31/19 7:37 PM EST | Value Investing |
| "The portfolio manager's smile and relaxed posture immediately disappeared. With a furrowed brow he asked me to confirm: in Florida? Yes, in Florida. Why, was that a particularly poor state to purchase a house in?" |
| More Value Investing: Vol can be improved |
| Tobias Carlisle talks to Tim Melvin |
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| 200 years of safe withdrawal rates |
| 07/31/19 6:27 PM EST | Markets |
| "200 years of Safe Withdrawal Rates in one chart!? Is that interesting, or what?" |
| More Markets: Opposite of conventional wisdom |
| Bill Gurley interview |
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| Vol can be improved |
| 07/31/19 6:14 PM EST | Value Investing |
| "Not all low-volatility stocks outperform. Those that are expensive relative to their profitability actually underperform the market." |
| More Value Investing: Tobias Carlisle talks to Tim Melvin |
| Value investing and concentration |
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| Age vs success |
| 07/31/19 6:11 PM EST | Science |
| "Backed by mathematical analysis, network theorist Albert-Laszlo Barabasi explores the hidden mechanisms that drive success - no matter your field - and uncovers an intriguing connection between your age and your chance of making it big." [video] |
| More Science: Scant evidence of power laws in real-world networks |
| Undead theories |
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| Mispriced innovation |
| 07/31/19 6:05 PM EST | Tech |
| "quantitative measures of innovation have the potential to identify mispriced growth opportunities in the market; supporting the notion that innovation is tied to future economic value." |
| More Tech: The rise of the robots |
| The garage self-driving car |
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| Inflexible spending rules |
| 07/31/19 5:52 PM EST | Retirement |
| "Moving from a rule-of-thumb to a dynamic model is like moving from analog to digital. While we may pine for the simplicity of the good old days, the fact is today we have much better tools to get the job done." |
| More Retirement: Cash reserve strategies don't work |
| Retirement plans |
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