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 3 Stingy Stocks for 2014
 4 Graham Stocks for 2014

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MoneySense Top 200
 2013: This Year's Picks
 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
 2014: This Year's Picks
 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%

Stingy Stocks
2014: This Year's Picks
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%

Walter Schloss
"Timidity prompted by past failures causes investors to miss the most important bull markets."
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Books By Friends
  Findependence Day by Jonathan Chevreau

The Uncommon Investor III by Benj Gallander

Norm's Recent Reading
  There's Always Something to Do by Christopher Risso-Gill

The Rational Optimist by Matt Ridley

Quantitative Strategies by Richard Tortoriello

Ubiquity by Mark Buchanan

A Splendid Exchange by William J. Bernstein

Good Books
  Security Analysis by Benjamin Graham

The Intelligent Investor by Benjamin Graham

Buffett by Roger Lowenstein

Contrarian Investment Strategies by David Dreman

Value Investing by Martin J. Whitman

What Works on Wall Street by James P. O'Shaughnessy

There's Always Something to Do by Christopher Risso-Gill

The Art of Short Selling by Kathryn Staley

Beyond Greed and Fear by Hersh Shefrin

Common Stocks and Uncommon Profits by Philip A. Fisher

Relative Dividend Yield by Anthony E. Spare

Financial Shenanigans by Howard M. Schilit

Against the Gods by Peter L. Bernstein

Damn Right! by Janet Lowe

A Random Walk Down Wall Street by Burton G. Malkiel

The Davis Dynasty by John Rothchild

Behavioural Investing by James Montier

Value Investing by James Montier

Critical Mass
by Philip Ball

The Black Swan by Nassim Nicholas Taleb

Expert Political Judgment by Philip E. Tetlock

A Splendid Exchange by William J. Bernstein

New Stingy Headlines

 07/25   The Stingy News Weekly: July 25, 2014SNW 
 07/25   Dirt-cheap value ETFsStingy Investing 
 07/25   Long-term returns boosted by illiquidityMarkets 
 07/25   Valuing community banksValue Investing 
 07/25   The voodoo of lobster economicsPricing 
 07/25   Best by buyback yieldStingy Investing 
 07/19   The Stingy News Weekly: July 19, 2014SNW 

Most Recent Stingy News

The Stingy News Weekly: July 25, 2014
07/25/14 7:00 PM EST PermlinkSNW
I'm pleased to present our free letter for the week ended July 25, 2014
More SNW: The Stingy News Weekly: July 19, 2014
The Stingy News Weekly: July 12, 2014

Dirt-cheap value ETFs
07/25/14 6:51 PM EST PermlinkStingy Investing
"Index investors are partying like it's 1999. The bull market is giving them reason to cheer, and fund companies are slashing their fees. It's now easy to build a portfolio stuffed full of dirt-cheap exchange traded funds."
More Stingy Investing: Best by buyback yield
Top 10 dogs of the TSX

Long-term returns boosted by illiquidity
07/25/14 6:50 PM EST PermlinkMarkets
"The less liquid a stock is, the better it will perform in the long run, compared with more liquid stocks."
More Markets: Technical market indicators
Booming until it hurts?

Valuing community banks
07/25/14 6:44 PM EST PermlinkValue Investing
"There isn't one way to value a community bank, but multiple ways. Each way could yield a different value, but ultimate all methods of valuation should somewhat agree on a potential value."
More Value Investing: Value combo
Price to sales ratio backtest

The voodoo of lobster economics
07/25/14 4:49 PM EST PermlinkPricing
"There is a voodoo to lobster economics. What used to be poor man's fare, the fallback meal of people too impoverished to afford anything else, is now a billion dollar business and a universal mark of luxury - with the result that a lobster that sells for $3.50 on the wharf can cost $60 and more on a restaurant plate in New York or Toronto or Shanghai, regardless of how many lobsters are pulled from the sea. How this happens is the life story of Larry the Lobster."
More Pricing: People really like free stuff
Consumers are hopeless at math

Best by buyback yield
07/25/14 4:46 PM EST PermlinkStingy Investing
"Investors love companies that pay dividends. But dividends aren't the only way firms send money to shareholders. They can also buy back their own stock."
More Stingy Investing: Top 10 dogs of the TSX
Relative value in the TSX

The Stingy News Weekly: July 19, 2014
07/19/14 6:00 PM EST PermlinkSNW
I'm pleased to present our free letter for the week ended July 19, 2014
More SNW: The Stingy News Weekly: July 12, 2014
The Stingy News Weekly: July 5, 2014

Why the M-B test is meaningless
07/19/14 5:54 PM EST PermlinkBehaviour
"This isn't a test designed to accurately categorize people, but a test designed to make them feel happy after taking it. This is one of the reasons why it's persisted for so many years in the corporate world, despite being disregarded by psychologists."
More Behaviour: Moral behavior in animals
Portfolio tracking is for losers

The importance of being solvent
07/19/14 5:24 PM ESt PermlinkThrift
"What is wealth? To me, it isn't a particular sum of money. Rather, it's the freedom to spend your days doing what you're passionate about and what you think is important."
More Thrift: Tiny houses for economic freedom
When the messenger is worth shooting

Technical market indicators
07/18/14 9:40 PM EST PermlinkMarkets
"Current evidence on the predictability of technical analysis largely concentrates on price-based technical indicators such as moving averages rules and trading range breakout rules. In contrast, the predictability of widely used technical market indicators such as advance/decline lines, volatility indices, and short-term trading indices has drawn limited attention. Although some market indicators have also become popular sentiment proxies in the behavioral finance field to predict returns, the results generally rely on using just one or a few indicators at a time. This approach raises the risk of data snooping, since so many proxies are proposed. We review and examine the profitability of a wide range of 93 market indicators. We give these technical market indicators the benefit of the doubt, but even then we find little evidence that they predict stock market returns. This conclusion continuously holds even if we allow predictability to be state dependent on business cycles or sentiment regimes."
More Markets: Booming until it hurts?
U.S. stocks will be very disappointing

Booming until it hurts?
07/18/14 9:39 PM EST PermlinkMarkets
"Those who warn of grave dangers if speculative price increases are allowed to continue unimpeded are right to do so, even if they cannot prove that there is any cause for concern. The warnings might help prevent the booms that we are now seeing from continuing much longer and becoming more dangerous."
More Markets: U.S. stocks will be very disappointing
Never buy expensive stocks. Period.

The FBI pump-and-dump scam
07/18/14 9:36 PM EST PermlinkCrime
"So the main lesson here is, if you want to run a pump-and-dump scam, the FBI is not a great partner. That or "just don't run a pump-and-dump scam," I guess, take your pick. There are other lessons, though. One is how strangely close this all was to being legal."
More Crime: Cynk and short selling
Stock promoters make inroads

The Stingy News Weekly: July 12, 2014
07/12/14 9:00 PM EST PermlinkSNW
I'm pleased to present our letter for the week ended July 12, 2014
More SNW: The Stingy News Weekly: July 5, 2014
The Stingy News Weekly: June 29, 2014

Cynk and short selling
07/12/14 8:25 PM EST PermlinkCrime
"If you spot what you think is a penny stock pump-and-dump scam, don't short it! It might be a trap!"
More Crime: Stock promoters make inroads
Optimism and credibility of stock spam

U.S. stocks will be very disappointing
07/12/14 8:13 PM EST PermlinkMarkets
"'I can say with high confidence that investors are going to get very disappointing returns from U.S. stocks over the coming 10 years,' says Rob Arnott, chairman of Research Affiliates"
More Markets: Never buy expensive stocks. Period.
Good businesses at good prices

Why Canada isn't immune
07/12/14 7:40 PM EST PermlinkReal Estate
"History has shown, time and again, that 'this time' is not different. We believe the same is true for the future of Canadian residential real estate."
More Real Estate: How much did your house cost?
Canada's mixed blessing

Tiny houses for economic freedom
07/12/14 7:33 PM EST PermlinkThrift
"The 57-year-old schoolteacher's tiny house near Providence, Rhode Island, cost $28,000 - a seventh of the median price of single-family residences in his state."
More Thrift: When the messenger is worth shooting
Our number-one tax shelter

Top 10 dogs of the TSX
07/12/14 7:27 PM EST PermlinkStingy Investing
"Welcome to the inaugural edition of the Value Hunter investment blog at The focus of this blog will be on dividend investing and other conservative stock strategies. I hope it will help you become a better investor."
More Stingy Investing: Relative value in the TSX
Diversify with Warren Buffett

Relative value in the TSX
07/12/14 7:24 PM EST PermlinkStingy Investing
"Thirty-one of the 60 stocks passed Mr. Graham's test at the end of 2008 when the financial system was in acute distress. But that number has been getting smaller and smaller ever since. This week, only six stocks passed the test."
More Stingy Investing: Diversify with Warren Buffett
Perils of too much information

The Stingy News Weekly: July 5, 2014
07/05/14 9:35 PM EST PermlinkSNW
I'm pleased to present our letter for the week ended July 5, 2014
More SNW: The Stingy News Weekly: June 29, 2014
The Stingy News Weekly: June 20, 2014

Never buy expensive stocks. Period.
07/05/14 9:25 PM EST PermlinkMarkets
"One can't even simulate a scenario where a diversified portfolio of 30 expensive stocks can beat the worst performing portfolio of 30 cheap stocks. Why investors allocate to expensive, or "growth," stocks is beyond me."
More Markets: Good businesses at good prices
A critique of John Hussman's Ccart

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Benj likes gold
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Survivorship bias
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Companies that lower their share count
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A recipe for a better dividend portfolio
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A dangerous season for stocks
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Negative EV stocks
Hedge fund math
In Paris, value stocks are in bloom
A warning for dividend lovers
A new Graham defensive stock
Too much liquidity can drain returns
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Stocks with a bounty
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Value with a touch of quality
Trying to catch a falling stock
Is saving for suckers?
Buffett and the long view
You cheeky monkey
Prem Watsa counsels cash
Cisco provides a lesson in patience
Jolt from the blue
The power of investor checklists
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The search for balance
Why quality can be a drag
Big U.S. banks on 3-for-1 sale
Put cheapness first
Retirement 100 (Fall 2012)
What would Buffett buy?
Investors shortchanged by Dell
6 Graham Stocks for 2013
Tetanus for Tim?
How much does that indexed portfolio cost?
Make headlines with media-shy stocks
Why Apple investors should remember Nortel
Advice to the lazy investor: Be even lazier
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Dividend stocks aren't fail-safe
Shiller's earnings yield
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3 villains can steal your retirement dreams
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Risky business
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Graham's metrics still apply
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