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 01/22   The Stingy News Weekly: January 22, 2023 
 01/22   Rich income 
 01/17   The easy way to returns 
 01/17   The smaller stable dividend portfolio 
 01/17   Price-to-fantasy ratio 
 01/17   Asset Mixer Update 
 01/17   Periodic Table Update 
 01/15   The Stingy News Weekly: January 15, 2023 

Most Recent Stingy News

The Stingy News Weekly: January 22, 2023
01/22/23 6:55 PM ESTSNW
This week we have dividends, low fees, periodic mixing, and more.
More SNW: The Stingy News Weekly: January 15, 2023
The Stingy News Weekly: January 8, 2023

Rich income
01/22/23 5:35 PM ESTThrift
"if you're interested in understanding how your income compares to others in the U.S. (and whether that makes you rich), then you've come to the right place. So, how much income do you need to be rich? Let's find out."
More Thrift: Spending money
New rules for success

The easy way to returns
01/17/23 2:18 PM ESTStingy Investing
"Slashing fees is an easy, and practical, way to boost long-term returns and it explains the popularity of low-fee funds and very low-fee index funds in particular."
More Stingy Investing: The smaller stable dividend portfolio
Asset Mixer Update

The smaller stable dividend portfolio
01/17/23 2:17 PM ESTStingy Investing
"I used a combined injection of low-volatility and dividends on large stocks to form the Stable Dividend portfolio. This time around I'm using a similar approach to inoculate smaller stocks to form the, imaginatively named, Smaller Stable Dividend portfolio."
More Stingy Investing: Asset Mixer Update
Periodic Table Update

Price-to-fantasy ratio
01/17/23 1:58 PM ESTMarkets
"If reported earnings next year merely match the likely final 2022 level of $181, then the current price-to-forward earnings (P/F) ratio is 21. In 2023, if earnings tumble just 20% from 2022 levels, then the correct current P/F ratio is 26, hardly a bargain."
More Markets: Harvey vs the spread
A disaster for Tesla

Asset Mixer Update
01/17/23 12:54 PM ESTStingy Investing
We've updated our Asset Mixer to include real data for 2022.
More Stingy Investing: Periodic Table Update
Asset Mixer Update

Periodic Table Update
01/17/23 12:53 PM ESTStingy Investing
We've updated our periodic table of annual returns for Canadians to include real data for 2022.
More Stingy Investing: Asset Mixer Update
Periodic Table Update

The Stingy News Weekly: January 15, 2023
01/15/23 9:34 PM ESTSNW
This week we have Cliff, interviews, bacon, and more.
More SNW: The Stingy News Weekly: January 8, 2023
The Stingy News Weekly: January 1, 2023

Cliff Asness interview
01/15/23 8:56 PM ESTAsness
"Cliff joins the show to discuss FTX, AMC, why hedge funds aren't hedging, the role of index funds and a whole lot more."
More Asness: Clifford Asness talks value
Quant Cassandra

A place to start
01/15/23 8:29 PM ESTRetirement
"The 4% rule may be making a comeback. But it's just a starting point - and you shouldn't necessarily follow it precisely."
More Retirement: It is not a bad time to retire
Going the distance

Job interview nightmare
01/15/23 8:32 PM ESTManagement
"Companies are seemingly coming up with new, higher, and harder hoops to jump through at every turn. That translates to endless rounds of interviews, various arbitrary tests, and complex exercises and presentations that entail hours of work and prep. There can be good reasons for firms to do this - they really want to make sure they get the right person, and they're trying to reduce biases - but it's hard not to feel like it can just be too much."
More Management: The Cheesecake Factory marvel
CFO age and financial misreporting

Uncorrelated assets
01/15/23 8:28 PM EST:Asness
"Recently, Dimensional Fund Advisors wrote critically on 'liquid alts.' They make some good points, but they also draw some odd conclusions that if applied more generally would not be to their (or our) liking. Besides discussing their piece, below I take this opportunity to review the general rationale behind holding uncorrelated assets (in particular, equity 'factors' held in a long-short manner)."

Spending money
01/15/23 8:11 PM ESTThrift
"How people invest their money tends to be hidden from view. But how they spend is far more visible, so what it shows about who you are can be even more insightful."
More Thrift: New rules for success
Save enough

Crispy bacon
01/15/23 7:09 PM ESTFunds
"Being wedded to a benchmark by relative return fears, career risk, and investment mandates, in our opinion, practically guarantees a highly correlated and ordinary outcome. If the objective is to achieve higher returns with less risk, we do not believe looking like everyone else, or serving soggy bacon, is the answer. Bacon, in our opinion, should be served crispy."
More Funds: Volatility laundering
Performance benchmarks

The Stingy News Weekly: January 8, 2023
01/08/23 8:59 PM ESTSNW
This week we have the asset mixer, periodic table for Canadians, recessions, bonds, and more.
More SNW: The Stingy News Weekly: January 1, 2023
The Stingy News Weekly: December 25, 2022

Harvey vs the spread
01/08/23 6:19 PM ESTMarkets
"The spread, which Harvey's work is based on, has been consistently inverted since mid November and hovered Wednesday at around minus 82 basis points. Despite the curve being inverted for the ninth time since 1968, Harvey said it's probably not a harbinger for a recession."
More Markets: A disaster for Tesla
Take your losses

Trading a 2s10s inversion
01/08/23 4:16 PM ESTBonds
"We have discussed why the yield curve inversion is important to investors while showing that such an event, despite not offering an immediate boon for bond investors, does support both intermediate and long-term forward return outperformance. Further, we have also demonstrated that bond price returns following the peak of a yield curve inversion tend to produce above average forward-looking returns across all time horizons."
More Bonds: Farewell, TINA
Losing with bonds

Volatility laundering
01/08/23 4:03 PM ESTFunds
"Given the massive popularity of private investing today, it may very well be true that, as a great man once almost said, 'Never have so many paid so much to so few for the privilege of being told so little.'"
More Funds: Performance benchmarks
The survival game

The bubble has not popped
01/08/23 4:01 PM ESTValue Investing
"Value spread at 94th percentile"
More Value Investing: Vincent Daniel and Porter Collins interview
Order 66

A disaster for Tesla
01/08/23 3:59 PM ESTMarkets
"On this metric, Tesla still has a similar enterprise value to many of these automakers combined even after falling so sharply in 2022, despite being utterly unjustified by current fundamentals."
More Markets: Take your losses
Rational rebalancing

Asset Mixer Update
01/03/23 12:54 PM ESTStingy Investing
We've updated our Asset Mixer to include nominal data for 2022.
More Stingy Investing: Periodic Table Update
The Globe 250 Method

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+12.0%/yr (CAGR)

2021: New Picks (for subs)
2020: Down 32.3% (for subs)
2019: Up 0.0% (for subs)
2018: Up 19.6% (for subs)
2017: Up 58.3%
2016: Up 8.4%
2015: Down 1.4%
2014: Up 6.9%
2013: Up 37.8%
2012: Up 10.9%
2011: Down 16.1%
2010: Up 69.4%
2009: Up 64.5%
2008: Down 40.1%
2007: Down 5.5%
2006: Up 28.9%
2005: Up 29.2%
2004: Up 29.8%
2003: Up 33.8%
2002: Down 1.9%

Top 200
+12.5%/yr (CAGR)

2021: New Picks (for subs)
2020: Down 15.4% (for subs)
2019: Up 5.9% (for subs)
2018: Down 14.5
2017: Up 13.5%
2016: Up 2.8%
2015: Up 2.1%
2014: Up 2.3%
2013: Up 55.0%
2012: Up 13.4%
2011: Down 4.2%
2010: Up 19.7%
2009: Up 41.0%
2008: Down 32.9%
2007: Up 16.2%
2006: Up 37.6%
2005: Up 57.6%

Defensive Graham Stocks
+15.6%/yr (CAGR)

2018: New Picks
2017: Up 12.8%
2016: Up 1.6%
2015: Up 2.2%
2014: Up 5.1%
2013: Up 19.0%
2012: Up 26.6%
2011: Up 4.1%
2010: Up 2.3%
2009: Up 2.2%
2008: Down 6.5%
2007: Up 34.4%
2006: Down 3.8%
2005: Up 46.6%
2004: Up 32.2%
2003: Up 56.8%
2002: Up 28.2%
2001: Up 20.2%

More Stingy Investing

Asset Mixer Update
Periodic Table Update
Asset Mixer Update
Periodic Table Update
The Globe 250 Method
The Globe 250 Megastars
The Champagne portfolio
The Globe 250
Top 20 Megastars
The Screaming Value portfolio
The Blended Momentum portfolio
The Dividend Monster portfolio
The Frugal Dividend portfolio
The Stable Dividend portfolio
Spreads and recessions
TSX 60 for value investors
Hot potato update
Looking at 10-year returns
Watching for a bottom
Another bear. Oh, bother!
Graphing Dividends 2022
Asset Mixer Update
Periodic Table Update
Hot Potato Portfolio
Graphing Dividends
Where things stand in Canadian dividend land
Chou follows Buffett and Watsa
Book value bargains in the TSX
Asset Mixer Update
Periodic Table Update
The value recovery
2020's lessons on risk tolerance
Asset Mixer Update
Periodic Table Update
Selling in January
Reversal stocks
Don't count out value
There and back again
Fizzy giants
Look to the long term
A sleepy approach to dividend investing
Dividend investing success
Falling dividend yields
A nearly two century winning streak
Moving average momentum
Value stocks are cheap
On the risks of concentration
Standing on the shoulders of giants
The bull market is back
Grim times for dividend investors
When the TSX escapes the bear
Investing in bad times
Look to Balanced Bob
Buying a bear market
Momentum down
A more generous strategy
Asset Mixer Update
Periodic Table Update
An inevitable market downturn
The power of reinvesting dividends
Asset Mixer Update
Periodic Table Update
The flip side of tax-loss selling
Dividend investing under the microscope
Graphing Dividends
The Champagne portfolio
How to invest a cash windfall
Dividend Monsters
The Acquirers Fund
The hot potato portfolio
The Perch Portfolio
The Return Gap
Personalized Returns
The gap
The perch portfolio
Sludgy advice
The Frugal Dividend portfolio
Dividends plus low vol
Two returning megastar stocks
Top 1000 stock picks
A bin of bargains
More ......

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