Most Recent Stingy News
|
|
| Graham PE and CPI |
| 08/29/10 5:08 PM EST Permlink Report Broken Link | Markets |
| "Saturna Capital has an interesting take on the calculation of the Graham / Shiller PE10, otherwise known as the Cyclically Adjusted Price Earnings ratio (CAPE). Saturna argues that The Market May Be Cheaper Than It Looks because the Consumer Price Index (CPI) provided by the Bureau of Labor Statistics (BLS) understates the true rate of inflation, a key input to the CAPE calculation" |
| More Markets: The free-marketeers strike back |
| Advertising on the handicap principle |
|
| The elements of investing |
| 08/29/10 4:30 PM EST Permlink Report Broken Link | Books |
| "The Elements of Investing.written by former Vanguard board members Charles Ellis and Burton G. Malkiel.distills investing into five fundamental principles: save, index, diversify, avoid blunders, and keep it simple. Simply visit the publisher's website and download your copy today." |
| More Books: The original captain of industry |
| Into thin error |
|
| Lies, damned lies and economists |
| 08/29/10 4:27 PM EST Permlink Report Broken Link | Economics |
| "It's established by now that economics didn't help stop some of the more spectacular misadventures of the financial community but it's a bit less obvious that it was directly responsible for many of the mishaps. It's all tied up with the dirty fact that economists are basically a bunch of untrustworthy, deceitful bums who shouldn't be left alone with your child's piggybank, let alone the world's economy. The trouble is that economists have a world-view that sees us all as self-interested moneygrubbers without an ethical thought in our heads. Perhaps that's because that's a pretty good description of economists themselves: they act like their models are true, the dirty rotten scoundrels." |
| More Economics: Physics envy can kill you |
| Naive Keynesianism |
|
| The Fed can create money, not confidence |
| 08/25/10 5:04 PM EST Permlink Report Broken Link | Government |
| "The key word here is "uncertainty." The Obama administration and Congress have dumped a huge load of highly dubious new legislation on Americans, much of it unread even by the legislators who voted for it. ObamaCare is an attempted federal takeover of a vast and complex industry. No one really knows how much chaos the financial sector "reform" act will generate. Hyperactive zealots in federal bureaucracies such as the Environmental Protection Agency have been unleashed to do silly things like attempt to reduce the planet's supply of carbon dioxide." |
| More Government: War between the sexes |
| Complex adaptive systems |
|
| The lost half decade |
| 08/25/10 4:47 PM EST Permlink Report Broken Link | Real Estate |
| "While it has been a 'lost decade' for equities, housing isn't too far behind. The sector is now in the midst of a lost half decade and counting. Following up on yesterday's downright awful release of existing home sales, today's new home sales report for July came in at a seasonally adjusted annualized rate of just 276K, which is a record low dating back to 1963. Since peaking in July 2005, new home sales have now declined by more than 80% in five years." |
| More Real Estate: Credit score is the tyrant |
| Vancouver's bubble trouble |
|
| How to tell when a CEO is lying |
| 08/25/10 4:43 PM EST Permlink Report Broken Link | Behaviour |
| "Assessing whether reported financial statements are intentionally misstated (or manipulated) is of considerable interest to researchers, creditors, equity investors, and governmental regulators. While there is a lot of information out there on deception detection, there is not a lot of useful information. This recent study, where the authors analyze linguistic features present in answers of CEOs and CFOs during quarterly earnings conference calls, caught my eye. Investors might want to pay attention" |
| More Behaviour: Slime mould like humans |
| The meaning of fair |
|
| War between the sexes |
| 08/25/10 3:53 PM EST Permlink Report Broken Link | Government |
| "On average, 65-year old men today will receive only 43.6% of the net benefits that women receive, and young men today can expect a net tax burden over their lifetimes that will be 3.4 times greater than for women." |
| More Government: Complex adaptive systems |
| Battle looms over public pensions |
|
| A man from a different time |
| 08/25/10 3:47 PM EST Permlink Report Broken Link | Montier |
| "Looking at the U.S. market since 1871, on a 1-year time horizon, nearly 80% of the return has been generated by fluctuations in valuation. However, as the time horizon is extended, 'fundamentals' play an increasing role in return generation. For example, at a 5-year time horizon, dividend yield and dividend growth account for almost 80% of the return." |
| More Montier: Barbie does economics |
| Montier resource page |
|
| Darwin's darlings |
| 08/25/10 3:43 PM EST Permlink Report Broken Link | Value Investing |
| "The premise of the report was that undervalued small capitalization stocks (those with a market capitalization between $50M and $250M) lacked a competitive auction for their shares and required the emergence of a catalyst in the form of a merger or buy-out to close the value gap." |
| More Value Investing: Tim's 2010 Conference |
| Mr. Market refuses |
|
| Complex adaptive systems |
| 08/25/10 3:41 PM EST Permlink Report Broken Link | Government |
| "As long as the Chinese keep giving us money and inflation remains low, I see nothing forcing US policy to change. This is not sustainable, however, and when the US turns into a Greece-like situation, it will be a very bad decade. When you try to micromanage a complex system, the most important virtue is humility." |
| More Government: Battle looms over public pensions |
| Huge government benefit |
|
| Strucs vs. Cycs |
| 08/25/10 3:39 PM EST Permlink Report Broken Link | Economy |
| "So in the interest of peace between the camps - and of lowered unemployment - here's a plea to each. Strucs: You've got to be more specific about exactly how much of current unemployment you think is structural, and explain what those structures are, so that those who believe that government might be able to help fix it can at least offer some ideas. And Cycs: You can start by acknowledging what is different about unemployment in this recession and so-called recovery, and give us targeted policy proposals, instead of vague exhortations to pump up demand." |
| More Economy: The rise of unemployment |
| Probability of recession |
|
| The rise of unemployment |
| 08/23/10 4:05 PM EST Permlink Report Broken Link | Economy |
| "This disturbing graphic, by Latoya Eguwuekwe, charts the rise of unemployment across the U.S. from 2007 on." |
| More Economy: Probability of recession |
| When do smart prices get dumb? |
|
| Battle looms over public pensions |
| 08/23/10 3:59 PM EST Permlink Report Broken Link | Government |
| "There's a class war coming to the world of government pensions. The haves are retirees who were once state or municipal workers. Their seemingly guaranteed and ever-escalating monthly pension benefits are breaking budgets nationwide. The have-nots are taxpayers who don't have generous pensions. Their 401(k)s or individual retirement accounts have taken a real beating in recent years and are not guaranteed. And soon, many of those people will be paying higher taxes or getting fewer state services as their states put more money aside to cover those pension checks." |
| More Government: Huge government benefit |
| U.S. is bankrupt |
|
| Huge government benefit |
| 08/23/10 3:58 PM EST Permlink Report Broken Link | Government |
| "Not participating in Social Security is a huge benefit. The implicit return on 'premiums' paid by you and your employer is typically below zero. In other words, if you took your social security taxes and stuffed them in a mattress, you would get a better return." |
| More Government: U.S. is bankrupt |
| Why I'm not hiring |
|
| Britain reels as austerity begins |
| 08/23/10 3:49 PM EST Permlink Report Broken Link | World |
| "Last month, the British government abolished the U.K. Film Council, the Health Protection Agency and dozens of other groups that regulate, advise and distribute money in the arts, health care, industry and other areas. It seemed shockingly abrupt, a mass execution without appeal. But it was just a tiny taste of what was to come." |
| More World: Is giving bad!? |
| Tracing oil reserves |
|
| Lou Simpson retiring from Geico |
| 08/22/10 9:00 PM EST Permlink Report Broken Link | Buffett |
| "Lou Simpson, the Chicago-based investor with such a stellar track record he once was considered the successor to Warren Buffett, is retiring at the end of the year after decades managing Geico's investment portfolio." |
| More Buffett: Warren Buffett's Mr. Fix-It |
| The most underrated part of Warren |
|
| But still expensive |
| 08/22/10 7:28 PM EST Permlink Report Broken Link | Funds |
| "A few years ago, a research paper by three academics claimed that Canadian mutual funds levied higher average fees than funds in seventeen other countries. Since average Canadian fund fees are high, the media jumped all over this research - despite being incomplete. Reading through many versions of the paper, it became clear that the core data and underlying assumptions were questionable." |
| More Funds: Stewardship common sense |
| Reward for punishment |
|
| Mott's strike |
| 08/22/10 4:24 PM EST Permlink Report Broken Link | Management |
| "After nearly 90 days of picketing in the broiling sun outside the sprawling Mott's apple juice plant here in upstate New York, Michelle Muoio recognizes that the lengthy strike is about far more than whether the 305 hourly workers at the plant get a fatter or slimmer paycheck." |
| More Management: On business competition |
| Why Amish businesses don't fail |
|
| Beware of 'independent' research |
| 08/20/10 10:46 PM EST Permlink Report Broken Link | Academia |
| "It was the medical profession, of course, that sparked the first real public outcry over corporate-funded research. After regulators exposed cases in which researchers doctored data in favor of drug companies, oversight of medical-school faculty tightened. "If people step over the line, it ends up being a big brouhaha," says James O'Toole, professor of business ethics at the University of Denver. But business schools say keeping the corporate world at arm's length would run counter to their core mission." |
| More Academia: Fractals and the art of roughness |
| Negative idiosyncratic risk premium |
|
| The free-marketeers strike back |
| 08/16/10 1:46 PM EST Permlink Report Broken Link | Markets |
| "'From an historical perspective, the current crisis follows a well-known pattern,' says Princeton University's Jose Scheinkman. 'It is astounding,' agrees Columbia University's Charles Calomiris, to what extent 'the current banking crisis fits into the pattern of all banking crises that we have known about since the fifteenth century': excessive leverage and a strong belief in ever-rising prices, followed by a collapse of trust in, and a run on, the banks. 'The weakness of many contemporary economists is a short memory,' Calomiris adds. It's an amnesia shared by the public, which tends to erase bad memories. After all, banks usually work pretty well, so long periods of time can pass without a crisis breaking out, making it much easier to forget." |
| More Markets: Advertising on the handicap principle |
| Meet the $69 hot dog |
|
| Value Workshop: Indigo |
| 08/15/10 2:05 PM EST Permlink Report Broken Link | Stingy Investing |
| "We're putting Indigo Books & Music (IDG on the TSX) under the microscope today." |
| More Stingy Investing: Dividend investing |
| Dividend growers |
|
|
Stingy News Weekly
Archive:
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
10
|
Submit a Story
|
