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 3 Stingy 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%

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"A government big enough to give you everything you want is strong enough to take everything you have."
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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

 04/12   When the messenger is worth shootingThrift 
 04/12   Global solar dominance in sightWorld 
 04/12   Will life ever get better for journalists?Media 
 04/12   Financial advisor feesZweig 
 04/12   Buffett's tax planTaxes 
 04/12   China's steelmakers into shadow bankingWorld 
 04/05   Fund risk rating reformHallett 

Most Recent Stingy News

When the messenger is worth shooting
04/12/14 6:01 PM EST PermlinkThrift
"In addition to being ineffective and boring, the lessons of financial literacy curriculums often end up sounding patronizing and obvious. Check your credit report. Rebalance investments. Budget. The fact that most people don't bother to do these things is taken as a sign of their financial illiteracy."
More Thrift: Our number-one tax shelter
Frugal life leaves rich legacy

Global solar dominance in sight
04/12/14 5:51 PM EST PermlinkWorld
"Photovoltaic energy is already so cheap that it competes with oil, diesel and liquefied natural gas in much of Asia without subsidies."
More World: China's steelmakers into shadow banking
Slice of life

Will life ever get better for journalists?
04/12/14 5:45 PM EST PermlinkMedia
"The Internet is to blame for all this, of course. Online has decimated the advertising revenue that media outlets have traditionally relied on, while a plethora of other sources and options from Twitter to Reddit have in some ways obviated the need for journalists. And let's not even get started on robot reporters."
More Media: April ROB
A Capital Idea

Financial advisor fees
04/12/14 5:44 PM EST PermlinkZweig
"The Wall Street Journal's two top personal finance journalists, Jonathan Clements and Jason Zweig, both now at The Wall Street Journal tackle the three greatest financial challenges facing Americans. [video]"
More Zweig: Retiring on your own terms
Consuelo interviews Jason Zweig

Buffett's tax plan
04/12/14 5:43 PM EST PermlinkTaxes
"Allowing companies to split into separate parts, tax-free, is a long-accepted practice. But now it seems that practice has been twisted into a very effective tax-dodge."
More Taxes: Boost after-tax returns
Moguls shelter wealth forever

China's steelmakers into shadow banking
04/12/14 5:41 PM EST PermlinkWorld
"What's happening in China's steel industry illustrates not only how painful the economy's inevitable slowdown will be, but also how the country's complicated tangle of debts are straining the connective tissue of supply chains, endangering the whole system."
More World: Slice of life
Bill Gates interview

Fund risk rating reform
04/05/14 1:59 PM EST PermlinkHallett
"More importantly, the rating doesn.t adequately inform investors about the risks that lie ahead during the next credit market freeze or when the PIMCO managers show their humanity and get some of their bets wrong. PIMCO is following the rules. But assessing this as a low risk fund simply shows the inadequacy of the status quo that so many fund companies have argued to maintain."
More Hallett: Making sense of experts' picks
Smart beta needs to come out of the closet

Boost after-tax returns
04/05/14 1:56 PM EST PermlinkTaxes
"If you happen to be an investor, you're no doubt looking for ways to increase your returns. Look no further than your own tax return. If you can achieve tax savings related to your investments, this will increase your after-tax returns. So, consider the following ideas when filing your tax return this year."
More Taxes: Moguls shelter wealth forever
Accidental tax break

Evasive shareholder meetings
04/05/14 1:54 PM EST PermlinkAcademia
"We study the location and timing of annual shareholder meetings. When companies move their annual meetings a great distance from headquarters, they tend to announce disappointing earnings results and experience pronounced stock market underperformance in the months after the meeting. Companies appear to schedule meetings in remote locations when the managers have private, adverse information about future performance and wish to discourage scrutiny by shareholders, activists, and the media. However, shareholders do not appear to decode this signal, since the disclosure of meeting locations leads to little immediate stock price reaction. We find that voter participation drops when meetings are held at unusual hours, even though most voting is done electronically during a period of weeks before the meeting convenes."
More Academia: Stock picking skills of SEC employees
The shorting premium

Chou's 2013 letter
03/30/14 12:15 PM EST PermlinkValue Investing
"We believe that the market is currently fairly valued and we sincerely doubt the overall returns from equities in general over the next five to 10 years will be compelling. On the contrary, we believe the returns may be far more modest than those hoped for by investors. Not only are the P/E ratios and price-to-book values still high and dividend yields low relative to historic valuations, but the number of companies that are underpriced is at an all-time low. In light of this scenario, and with its obvious lack of bargains, we would not hesitate to sell our investments and be 100% or 50% cash -- or whatever the number may be."
More Value Investing: David Winters interview
Investment principles and habits

David Winters interview
03/30/14 12:13 PM EST PermlinkValue Investing
"Wintergreen Fund's David Winters, a value investor who describes himself as the opposite of an index hugger, has more than 60% of his portfolio invested in companies based overseas and has recently taken a stand against Coca Cola management and Warren Buffett"
More Value Investing: Investment principles and habits
Mohnish Pabrai's Boston College talk

Newspaper stock, really?
03/28/14 9:30 PM EST PermlinkStingy Investing
"Flint knapping was an important skill many years ago and then technological change made it obsolete. But, in a strange twist of fate, it has been making a bit of a comeback thanks to the Internet. It's now easy to learn how to knock out an arrow tip the old-fashioned way. While the Internet is a great boon to hobbies such as flint knapping, it's knocking the stuffing out of some businesses. Newspapers are a case in point."
More Stingy Investing: A big day for value investors
Is Berkshire Hathaway too big?

A big day for value investors
03/28/14 9:28 PM EST PermlinkStingy Investing
"Value investors are set to descend upon Toronto for the Fairfax Financial annual meeting. They're making the trip from all over the world to hear Prem Watsa, the firm's CEO, talk about strategy and investing in early April."
More Stingy Investing: Is Berkshire Hathaway too big?
Glidepath to oblivion

Buffett the market timer?
03/23/14 12:36 PM EST PermlinkBuffett
"So yes, Buffett did retire in 1969 due to the lack of investment opportunity so in that sense it does sort of smell like market timing; he got out at the top. But does his retirement really mean that he lost faith in stocks as good long term investments at the then prices? His expectations suggest not."
More Buffett: Berkshire Hathaway report for 2013
How to hold stocks: Buffett

What would you do?
03/22/14 11:22 PM EST PermlinkWatsa
"Every investor has held his hand out in the dark and blindly touched the fine line between being very early and very wrong"
More Watsa: Prem's letter
Prem Watsa opens up about BlackBerry

Equity markets are overvalued
03/22/14 11:21 PM EST PermlinkMontier
"James Montier, member of the asset allocation team at Boston-based GMO, has a hard time finding attractively valued assets these days. His advice to investors: Cash - and lots of patience."
More Montier: A CAPE Crusader
Hyperinflations, hysteria, and false memories

Stock promoters make inroads
03/22/14 11:09 PM EST PermlinkCrime
"Several finance websites have published articles by guest contributors who were allegedly paid to promote the stocks they were writing about, raising ethical concerns."
More Crime: Optimism and credibility of stock spam
Concrete Equities fraud

How much did your house cost?
03/22/14 11:00 PM EST PermlinkReal Estate
"In the case of the Irish property market, it would appear that mortgaged households have considerable difficulty in accurately recalling the actual house price paid for their property."
More Real Estate: Canada's mixed blessing
Why home prices change

Slice of life
03/15/14 6:05 PM EST PermlinkWorld
"KCPT's Randy Mason takes US 36 to Chillicothe, Missouri, where in the summer of 1928, sliced bread was made available for the first time, anywhere. Otto Rohwedder invented that slicer, Frank Bench put it to work in his bakery, and from then on, the sandwich was never the same"
More World: Bill Gates interview
The Big Mac index

When hedge funds lobby
03/15/14 5:57 PM EST PermlinkGovernment
"The worrying thing is that the Ackmans and Westhuses of this world have discovered what you might call the Buffett Arbitrage. Rather than investing in advertising or capital stock, they invest instead in lobbying, with the aim of getting very specific legislation passed which will make them very rich."
More Government: Now with less democracy
Job creation plan won't create a single job

Bill Gates interview
03/15/14 5:54 PM EST PermlinkWorld
"The majority of the foundation's money goes to a finite number of things that focus on health inequity - why a person from a poor country is so much worse off than somebody from a country that's well-off. It's mostly infectious diseases. There's about 15 of those we're focusing on - polio is the single thing I work on the most. And then, because of the importance of nutrition and because most poor people are farmers, we're in agriculture as well."
More World: The Big Mac index
How did Zimbabwe become so poor

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Stingy Investing

  Newspaper stock, really?
A big day for value investors
Is Berkshire Hathaway too big?
Glidepath to oblivion
Benj likes gold
  More ...


  Buffett the market timer?
What would you do?
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The Glidepath Illusion
The shorting premium
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  China's steelmakers into shadow banking
How much did your house cost?
Slice of life
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Value Investing

  Chou's 2013 letter
David Winters interview
Newspaper stock, really?
A big day for value investors
Prem's letter
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  Buffett the market timer?
Is Berkshire Hathaway too big?
Berkshire Hathaway report for 2013
How to hold stocks: Buffett
Buffett smashed the EMH
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  Fund risk rating reform
When hedge funds lobby
Making sense of experts' picks
The Glidepath Illusion
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  When hedge funds lobby
Stock picking skills of SEC employees
Now with less democracy
Job creation plan won't create a single job
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Real Estate

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Risk-free returns for everybody
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The shorting premium
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Stingy Investing

  Newspaper stock, really?
A big day for value investors
Is Berkshire Hathaway too big?
Glidepath to oblivion
Benj likes gold
3 Stingy Stocks for 2014
4 Graham Stocks for 2014
Take a vacation
Glamour tech stocks not tempting
Survivorship bias
Disappointing balanced index funds
Market timing by indexers
A bargain from Tweedy
Three easy ways to mimic the best
Don't let envy ruin your returns
Asset Mixer Update
Periodic Table Update
Don't play the prediction game
Bank stock contest
Where value investors are donating
Hewlett-Packard may finally compute
Why a stock screen is only a first step
Still beating the market after 9 years
Who needs Wall St.?
Markets are partying like it's 1999
Companies that lower their share count
How to find bargains
Beat the pack by steering around disaster
CMS Slides
Practise what you preach
Why cash is not trash
Finding value among U.S. dividend stocks
A recipe for a better dividend portfolio
Fishing for a bargain among small-fry
How to choose an actively managed fund
A dangerous season for stocks
The case for low-fee balanced funds
Price-to-long-term-earnings ratios
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
The Top 200 for 2013
Top 500 U.S. Stocks for 2013
Stocks with a bounty
8 Stingy Stocks for 2013
Value with a touch of quality
Trying to catch a falling stock
Is saving for suckers?
Buffett and the long view
You cheeky monkey
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Why quality can be a drag
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Put cheapness first
Retirement 100 (Fall 2012)
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Investors shortchanged by Dell
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Tetanus for Tim?
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Make headlines with media-shy stocks
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Advice to the lazy investor: Be even lazier
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Periodic Table Update
Scary beats safe when it comes to Net Nets
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Income 100: Summer 2009
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