Most Recent Stingy News
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| The active passive investor |
| 05/12/13 7:25 PM EST Permlink | Indexing |
| "Today, the more affluent investor's default strategy is - increasingly - indexing, inspired by the likes of John Bogle, Charles Ellis and William Sharpe. But I have often found that indexing advocates implement strategies that are quite a departure from the underlying theory they use to support their choices." |
| More Indexing: Vanguard total int'l bond fund |
| Why do Value Investors like Indexing? |
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| The hidden DB in DC plans |
| 05/12/13 7:23 PM EST Permlink | Retirement |
| "The greatest attraction of a DB pension plan is the appearance of certainty in the levels of retirement income it promises to its members, which contrasts with the uncertainty of retirement income levels that a DC pension plan can provide to its members. Readers may be interested to discover, though, that their DC pension plan (or other retirement savings plan such as a group RRSP or deferred profit sharing plan) may have a minimum level of DB hidden within it; in fact, it.s highly likely to be the case for any Canadian DC arrangement." |
| More Retirement: Meet the man who retired at 30 |
| The retirement gamble |
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| IRS: not good at math |
| 05/11/13 11:28 AM EST Permlink | Taxes |
| "About a half-hour into a conference call with reporters Friday afternoon, senior Internal Revenue Service official Lois Lerner said something she will regret. 'I'm not good at math,' she confessed as she tried to summon a statistic." |
| More Taxes: Gérard Depardieu, the heroic exile |
| Income malaise complicates tax talks |
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| Doubt yourself |
| 05/05/13 12:38 PM EST Permlink | Buffett |
| "There was no big news at Berkshire Hathaway Inc..s annual meeting this past weekend, but there was one great lesson for investors: Perhaps the most important thing you can do when everything seems to be going right in your portfolio is to listen to somebody who insists you are wrong." |
| More Buffett: Investors earn handsome paychecks |
| Berkshire Hathaway meeting notes |
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| Investors earn handsome paychecks |
| 05/05/13 8:07 PM EST Permlink | Buffett |
| "Warren Buffett's decision to hire two investment lieutenants is paying off for Berkshire Hathaway, and it's paying off for the two younger money managers, too." |
| More Buffett: Berkshire Hathaway meeting notes |
| Buffett's annual letter |
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| Stock buybacks beat the market |
| 05/05/13 2:34 PM EST Permlink | Markets |
| "Still, numerous studies over periods extending back more than three decades have found that the average buyback stock proceeds to outperform the market." |
| More Markets: What risk premium? |
| Most large acquisitions are errors |
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| Vanguard total int'l bond fund |
| 05/05/13 2:11 PM EST Permlink | Indexing |
| "The latest filing provides additional details on the fund that.s designed to track the Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Index (dollar hedged), and will tap into a universe of 7,000 high-quality corporate and government bonds from 52 countries." |
| More Indexing: Why do Value Investors like Indexing? |
| When cheap funds cost too much |
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| Fairfax meeting slides |
| 05/05/13 2:07 PM EST Permlink | Watsa |
| A few of their reasons for hedging... |
| More Watsa: Watsa no stranger to value |
| Fairfax contrarian cashes in mightily |
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| Berkshire Hathaway meeting notes |
| 05/05/13 2:03 PM EST Permlink | Buffett |
| "MoneyBeat was live in Omaha's CenturyLink Center where more than 35,000 Buffett lovers crowded for some six hours while Buffett and sidekick Charlie Munger's dished out investment wisdom and wit. Read our recap" |
| More Buffett: Buffett's annual letter |
| A compilation of Buffett articles |
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| Colorful Charlie Munger |
| 05/05/13 1:58 PM EST Permlink | Munger |
| "One of Munger's biggest zingers today had him saying the European Union's decision to allow Greece to join was as stupid as someone using rat poison as whipping cream." |
| More Munger: The Psychology of Human Misjudgement |
| Berkshire's Charlie Munger speaks |
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| Buffett and the long view |
| 05/05/13 1:57 PM EST Permlink | Stingy Investing |
| "As Warren Buffett takes the stage this weekend, it's time to ask if his flagship company is still worth investing in." |
| More Stingy Investing: You cheeky monkey |
| Prem Watsa counsels cash |
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| The underground recovery |
| 04/27/13 10:10 PM EST Permlink | Economy |
| "Ordinary Americans have gone underground, and, as the recovery continues to limp along, they seem to be doing it more and more." |
| More Economy: Deposit insurance may increase bank risk |
| Financial stress index back down |
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| Meet the man who retired at 30 |
| 04/27/13 10:08 PM EST Permlink | Retirement |
| "But I didn't start saving and investing particularly early, I just maintained this desire not to waste anything. So I got through my engineering degree debt-free - by working a lot and not owning a car - and worked pretty hard early on to move up a bit in the career, relocating from Canada to the United States, attracted by the higher salaries and lower cost of living. Then my future wife and I moved in together and DIY-renovated a junky house into a nice one, kept old cars while our friends drove fancy ones, biked to work instead of driving, cooked at home and went out to restaurants less, and it all just added up to saving more than half of what we earned. We invested this surplus as we went, never inflating our already-luxurious lives, and eventually the passive income from stock dividends and a rental house was more than enough to pay for our needs" |
| More Retirement: The retirement gamble |
| Retirement is cheaper than you think |
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| The retirement gamble |
| 04/27/13 8:12 PM EST Permlink | Retirement |
| "Retirement is big business in America, but is the system costing workers and retirees more than what they're getting in return?" |
| More Retirement: Retirement is cheaper than you think |
| Small towns can offer big savings |
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| You cheeky monkey |
| 04/25/13 7:46 PM EST Permlink | Stingy Investing |
| "Some index investors have suggested that expensive portfolio managers could easily be replaced by monkeys willing to work for bananas. Now a recent study goes even further. It suggests that a chimp can outperform not just the typical money manager but the traditional index fund as well." |
| More Stingy Investing: Prem Watsa counsels cash |
| Cisco provides a lesson in patience |
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| Prem Watsa counsels cash |
| 04/20/13 11:22 PM EST Permlink | Stingy Investing |
| "Investors are often advised to buy low and sell high. But such advice has an under-appreciated corollary: They also have to be prepared to weather the bad times. All too many people crumble in the face of adversity and simply don't have any money left to buy when prices are low." |
| More Stingy Investing: Cisco provides a lesson in patience |
| Jolt from the blue |
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| Why did baby catalogs arrive at our house? |
| 04/20/13 11:20 PM EST Permlink | Tech |
| "Marketing Genetics is a data company based in Nebraska. They gather up data that companies share with each other about purchasing behavior and sell it to other companies that are looking for certain types of customers. They've got a database of 100 million people and more than a billion transactions (most of those from the last couple of years). As they show in a sample report on their site, Marketing Genetics takes a company's data and creates a statistical profile of their best customers. Then they look for similar people within their own databases, so those companies can send these people catalogs or other direct mail. They call this Data Navigation Analysis (DNA)." |
| More Tech: No hands |
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| Meet the student who shook Austerians |
| 04/20/13 11:18 PM EST Permlink | Economics |
| "Herndon became instantly famous in nerdy economics circles this week as the lead author of a recent paper, 'Does High Public Debt Consistently Stifle Economic Growth? A Critique of Reinhart and Rogoff,' that took aim at a massively influential study by two Harvard professors named Carmen Reinhart and Kenneth Rogoff. Herndon found some hidden errors in Reinhart and Rogoff's data set, then calmly took the entire study out back and slaughtered it." |
| More Economics: What if they're wrong? |
| Saving economics from the economists |
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| The high dividend yield return advantage |
| 04/20/13 11:10 PM EST Permlink | Dividends |
| "In the pages that follow, we set forth a number of studies, largely from academia, analyzing the importance of dividends, and the association of high dividend yields with attractive investment returns over long measurement periods. You may be familiar with our prior booklet, What Has Worked In Investing, where we provided an anthology of studies which empirically identified a return advantage for value-oriented investment characteristics. In the same spirit, we attempt to examine what some in our industry have referred to as the "yield effect"; i.e., the correlation of high dividend yields to attractive rates of return over long measurement periods. Much has been written about dividends, and what is contained herein is not meant to be an exhaustive analysis, but rather a sampling of studies examining the impact of dividends on investment returns. We hope it will provide you with added insight and confidence, as it did us, in pursuing a yield-oriented investment strategy." |
| More Dividends: A value tilt in disguise? |
| You do the math |
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| A value tilt in disguise? |
| 04/20/13 11:08 PM EST Permlink | Dividends |
| "The yield factor associated with high-dividend-yielding stocks actually detracted from performance." |
| More Dividends: You do the math |
| Dissecting shareholder yield |
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| Economic experts vs. average Americans |
| 04/20/13 11:06 PM EST Permlink | Academia |
| "The topics most covered in the economic literature, where economists agree among themselves the most, are also the topics in which their opinions are most distant from those of average Americans. This difference does not seem to be driven by knowledge, since informing people of the expert opinions does not have much impact on the responses of ordinary Americans. The explanation most consistent with our limited evidence is that people do not trust many of the implicit assumptions embedded into the economists' answers and that economists give them for granted." |
| More Academia: The gross profitability premium |
| Are leveraged ETFs the new portfolio insurers? |
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