Most Recent Stingy News
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| The Stingy News Weekly: September 24, 2023 |
| 09/24/23 7:35 PM EST | SNW |
| This week we have bonds, banks, bubbles, and more. |
| More SNW: The Stingy News Weekly: September 17, 2023 |
| The Stingy News Weekly: September 10, 2023 |
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| Long and short of it |
| 09/24/23 7:33 PM EST | Bonds |
| "I would lean heavily on short-term bonds. Since interest rates are unpredictable, I see that as the best route to preserving value." |
| More Bonds: Two per cent real yields |
| The smart debt money |
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| Downside of short selling |
| 09/24/23 7:01 PM EST | Markets |
| "Activist short-sellers who remain anonymous typically do so for fear of harassment of themselves and their families, from either their targeted companies or investors who lost money when the stocks of those companies declined in value. They also worry about fending off costly lawsuits." |
| More Markets: We'll have a good time then |
| Stock-bond correlation |
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| We'll have a good time then |
| 09/24/23 6:06 PM EST | Markets |
| "The Fed needs to be very careful here. The working class and younger generations may discover who is responsible for their inability to own a home." |
| More Markets: Stock-bond correlation |
| Network effects unravel |
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| What Works in Banking |
| 09/24/23 5:32 PM EST | Value Investing |
| "A strategy that buys cheap, high-quality banks with conservatively managed loan and asset books can be expected to deliver excess returns in the majority of market environments." |
| More Value Investing: More bang for your buck |
| Seth Klarman on Security Analysis |
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| Two per cent real yields |
| 09/24/23 5:30 PM EST | Bonds |
| "The good news for investors is that the highest yields in ~15 years, either real or nominal, can be locked in with a buy-and-hold strategy. No one knows if current rates are at or near a peak, but this much is clear: the case for a relatively higher allocation to Treasuries vs. recent history hasn.t looked this compelling since George W. Bush was walking the floor in the Oval Office." |
| More Bonds: The smart debt money |
| Mortgage rate update |
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| Morgan Housel's portfolio |
| 09/24/23 5:21 PM EST | Indexing |
| "Save your money and have a level of cash with which you can absorb and manage and survive all of the unpredictable nonsense in the economy, but invest your money like an optimist." |
| More Indexing: On second thought |
| Looking up and down |
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| The Stingy News Weekly: September 17, 2023 |
| 09/17/23 6:29 PM EST | SNW |
| This week we have stocks, bonds, retirement, and more. |
| More SNW: The Stingy News Weekly: September 10, 2023 |
| The Stingy News Weekly: September 4, 2023 |
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| Household balance sheets |
| 09/17/23 6:14 PM EST | Economy |
| "The average debt-to-asset ratio historically has been around 13% (currently 12%), getting as high as 20% in 2009 at the depths of the financial crisis and as low as 6% in 1952 before consumer credit exploded higher in this country." |
| More Economy: The red superball |
| When will interest rates matter? |
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| Stock-bond correlation |
| 09/17/23 6:12 PM EST | Markets |
| "Investors tend to think of stocks and bonds as negatively correlated, with stocks doing well in positive growth environments and bonds doing well when growth slows or declines. And that was largely true for the last quarter century. But earlier this year, the trailing three-year correlation between stocks and bonds turned positive for the first time since November of 2000" |
| More Markets: Network effects unravel |
| Hot stocks of the decade |
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| The China model |
| 09/16/23 10:44 PM EST | World |
| "The Peking University professor Zhang Dandan recently estimated that the unemployment rate among youth ages 16 to 24 could be close to 50 percent, more than twice the official figure." |
| More World: Japan in demand |
| The depopulation bomb |
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| Network effects unravel |
| 09/16/23 9:54 PM EST | Markets |
| "For network effects to occur, the product or service has to be highly relevant to its users. When relevance fades, network effects quickly unravel." |
| More Markets: Hot stocks of the decade |
| Dissecting the investment factor |
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| Getting ready |
| 09/16/23 9:21 PM EST | Retirement |
| "I underestimated how much cash I should have on hand. I thought of myself as a 'rational person.' I could just sell investments when my cash cushion got close to zero, right? Wrong. It turns out I needed a larger cash buffer to sleep well at night. In my defense, it's hard to predict this number without living through a year or two of retirement spending, and watching your dollars dwindle. The lesson: Err on the conservative side." |
| More Retirement: What we lose |
| Less money than you think |
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| The Stingy News Weekly: September 10, 2023 |
| 09/10/23 7:17 PM EST | SNW |
| This week we have big stocks, retirement, stories, and more. |
| More SNW: The Stingy News Weekly: September 4, 2023 |
| The Stingy News Weekly: August 27, 2023 |
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| Stories vs. intelligence |
| 09/10/23 4:27 PM EST | Behaviour |
| "Stories are indispensable, nourishing and delightful. They are also attacks on the rational immune system." |
| More Behaviour: Be suspicious of stories |
| Respect and admiration |
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| Be suspicious of stories |
| 09/10/23 4:26 PM EST | Behaviour |
| "Tyler Cowen talks about stories" [video] |
| More Behaviour: Respect and admiration |
| How to decide |
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| Hot stocks of the decade |
| 09/10/23 3:58 PM EST | Markets |
| "In each of the five full decades we studied, the weight of the top 100 stocks at the end of one decade was materially lower in the next. The decade following the dot-com craze of the 1990s (the 2000s) witnessed the lowest survival rate in our study with only 73% of stocks remaining a decade later" |
| More Markets: Dissecting the investment factor |
| Market returns with error |
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| Respect and admiration |
| 09/10/23 2:00 PM EST | Behaviour |
| "Virtually no one in this exercise would think about their obituary mentioning how much horsepower their car has, how many square feet their home is, or how much they spent on jewelry and clothes." |
| More Behaviour: How to decide |
| Big decisions |
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| More bang for your buck |
| 09/10/23 1:56 PM EST | Value Investing |
| "Europe offers higher profitability among firms trading at deep discounts." |
| More Value Investing: Seth Klarman on Security Analysis |
| The Albert Bridge factory |
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| On second thought |
| 09/10/23 1:11 PM EST | Indexing |
| "I'm no longer much interested in retirement, at least as traditionally defined. Instead, I see the overriding goal as financial freedom - meaning the freedom to spend my days as I wish without worrying about money. What's the key to not worrying? In large part, it's about feeling we have enough, which is less about a specific dollar amount and more about our willingness to be content with what we've accumulated." |
| More Indexing: Looking up and down |
| No right way |
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| The Stingy News Weekly: September 4, 2023 |
| 09/04/23 4:50 PM EST | SNW |
| This week we have Buffett, cars, errors, and more. |
| More SNW: The Stingy News Weekly: August 27, 2023 |
| The Stingy News Weekly: August 20, 2023 |
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