Most Recent Stingy News
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| The Stingy News Weekly: October 15, 2018 |
| 10/15/18 8:58 PM EST | SNW |
| This week we have gambiling, writers, predict, monstrous, value, and more. |
| More SNW: The Stingy News Weekly: October 9, 2018 |
| The Stingy News Weekly: September 30, 2018 |
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| Monstrous returns |
| 10/15/18 8:55 PM EST | Stingy Investing |
| "Shell out! Shell out! Halloween is fast approaching and income investors want their dividends. They have bowls of candy to fill for the little witches and goblins who are soon to arrive at their doors." [$] |
| More Stingy Investing: High-yield small-caps |
| Low-P/E in the DJIA |
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| Lessons from Annie Duke |
| 10/15/18 8:52 PM EST | Books |
| "[A baseball executive] was in Las Vegas sitting next to a guy who has got a 17. So the dealer is asking for hits and everybody knows the standard in blackjack is that you sit on a 17. The guy asked for a hit. The dealer flips over 4, makes the man's hand, right, and the dealer sort of smiles and says, 'Nice hit, sir?' Well, you're thinking nice hit if you're the casino, because if that guy does that a hundred times, obviously the casino is going to take it the bulk of the time. But in that one particular instance: bad process, good outcome. If the process is the key thing that you focus on, and if you do it properly, over time the outcomes will ultimately take care of themselves. In the short run, however, randomness just takes over, and even a good process may lead to bad outcomes. And if that's the case: You pick yourself up. You dust yourself off. You make sure you have capital to trade the next day, and you go back at it." |
| More Books: 20 rules for writers |
| Capitalism without capital |
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| 20 rules for writers |
| 10/15/18 8:37 PM EST | Books |
| "Stephen King's top 20 rules for writers" |
| More Books: Capitalism without capital |
| Watch less, read more |
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| Rich ghost towns |
| 10/15/18 8:04 PM EST | Real Estate |
| "These days, walking through parts of Manhattan feels like occupying two worlds at the same time. In a theoretical universe, you are standing in the nation's capital of business, commerce, and culture. In the physical universe, the stores are closed, the lights are off, and the windows are plastered with for-lease signs." |
| More Real Estate: Geoarbitrage |
| The rate of return on everything |
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| Beliefs don't predict |
| 10/15/18 7:49 PM EST | Behaviour |
| "The more we learn about how people really think, the more we must rethink economic theory." |
| More Behaviour: The next level of commitment |
| Why facts don't change our minds |
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| The odds of value |
| 10/15/18 6:56 PM EST | Value Investing |
| "Allocating tactically based on the market skewness might be considered unusual given the abstract nature of skewness. However, the skewness of the stock market can perhaps be understood as a measurement for the risk sentiment of investors. If risk aversion prevails, then investors are less likely to be interested in cheap, but problematic stocks and Value investors will not get compensated for holding undesirable stocks." |
| More Value Investing: Micro and small cap factor investing |
| 3 shades of value |
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| The Stingy News Weekly: October 9, 2018 |
| 10/09/18 8:51 PM EST | SNW |
| This week we have 100, micro, Cliff, predictors, and more. |
| More SNW: The Stingy News Weekly: September 30, 2018 |
| The Stingy News Weekly: September 24, 2018 |
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| The best market predictor is useless |
| 10/09/18 8:36 PM EST | Markets |
| "While you might think this is far-fetched, the basic forces of supply and demand are also one of the best predictors of future stock market returns." |
| More Markets: The death of the 200 day |
| A trend equity primer |
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| Micro and small cap factor investing |
| 10/09/18 8:32 PM EST | Value Investing |
| "The quality factor is most effective in micro caps, successfully screening out the deteriorating businesses." |
| More Value Investing: 3 shades of value |
| Go small value |
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| Cliff Asness hasn't smashed his screen this year - yet |
| 10/09/18 7:55 PM EST | Asness |
| "There is part of investing that must be done with great skill. There is part of investing that was automatable. Part of what Warren Buffett does is to always own cheaper, more profitable, lower-risk stocks. I think it's been a pretty good deal for Warren Buffett's investors. But with most active managers, you paid through the nose for it. Nowadays, you pay tiny amounts for it. There are ETFs out there charging nine basis points on factors for U.S. large-cap stocks." |
| More Asness: Lessons from Cliff Asness |
| Lies and data mining |
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| Slightly more than 100 fantastic articles |
| 10/09/18 7:54 PM EST | Media |
| "A list of nonfiction journalism from 2017 that will stand the test of time." |
| More Media: Scott Galloway bites |
| The best investing blogs |
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| High-yield small-caps |
| 10/09/18 6:44 PM EST | Stingy Investing |
| "the middle portfolio of medium-yielding (quintile) stocks grew at a compound annual rate of 14.1 per cent and outperformed the S&P/TSX Composite Index by an average of 6.6 percentage points per year." (Avoid the top and bottom yield quintiles.) [$] |
| More Stingy Investing: Low-P/E in the DJIA |
| Picking dividend growers |
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| The Stingy News Weekly: September 30, 2018 |
| 09/30/18 9:10 PM EST | SNW |
| This week we have value, commitment, 200 days, and more. |
| More SNW: The Stingy News Weekly: September 24, 2018 |
| The Stingy News Weekly: September 17, 2018 |
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| The next level of commitment |
| 09/30/18 6:48 PM EST | Behaviour |
| "Should we tell each other how much we make?" |
| More Behaviour: Why facts don't change our minds |
| Striking a chord |
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| 3 shades of value |
| 09/29/18 8:02 PM EST | Value Investing |
| "Rebalancing into ultra-cheap shares at the market's lowest point helped these funds outperform VTI in 2009 as the recovery got underway. DFA U.S. Large Cap Value, Invesco FTSE RAFI US 1000 ETF (PRF), and Invesco S&P 500 Pure Value ETF (RPV) had excess returns of more than 2 percentage points over VTI from March 2009 through June 2018. RPV had the best returns of the bunch, outpacing VTI by 6.3 percentage points annually." |
| More Value Investing: Go small value |
| Bruce J. Flatt talk |
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| The death of the 200 day |
| 09/29/18 7:54 PM EST | Markets |
| "The major market averages' recent all-time highs have done more than confirm that the bull market is still alive: They have raised yet more questions about the market-timing value of the 200-day moving average." |
| More Markets: A trend equity primer |
| Quants at the track |
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| The Stingy News Weekly: September 24, 2018 |
| 09/24/18 9:18 PM EST | SNW |
| This week we have a mission, small value, emerging markets, and more. |
| More SNW: The Stingy News Weekly: September 17, 2018 |
| The Stingy News Weekly: September 10, 2018 |
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| The curious case for emerging markets |
| 09/24/18 9:10 PM EST | World |
| "Since the inception of the MSCI Emerging Markets Index in 1988 through August of this year, EM returned 10.84% annualized while the S&P 500 returned 10.80%. Despite the eerily similar gains, a blend of the two, rebalanced annually, would have yielded better results." |
| More World: P/E 10 works better in some markets |
| What's killing rural Canada |
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| Active vs. index investing |
| 09/24/18 8:59 PM EST | Hallett |
| "The vast majority of investors can benefit from qualified professional advice that integrates wealth planning with investment management. This includes a robust discovery process, goals-based planning and a portfolio designed around these important inputs. The value of this combination is so significant over time that it can render the active vs passive debate almost meaningless." |
| More Hallett: ETF labelling |
| Scalability challenges |
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| Weird Al: Mission Statement |
| 09/24/18 8:16 PM EST | Fun |
| "Some 'Mandatory Fun'" [video] |
| More Fun: Strategy, patience, and prognostication |
| Bank counselling |
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