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The Stingy News Weekly (08/19/2012)


"The fact that people will be full of greed, fear or folly is predictable. The sequence is not predicatable."
- Warren Buffett


Stingy Links

Skilled work, without the worker
"The falling costs and growing sophistication of robots have touched off a renewed debate among economists and technologists over how quickly jobs will be lost. ... the advent of low-cost automation foretells changes on the scale of the revolution in agricultural technology over the last century, when farming employment in the United States fell from 40 percent of the work force to about 2 percent today."


Why does financial strength forecast stock returns?
"The authors measure financial strength with Piotroski.s F-score. They demonstrate that investors can achieve higher returns by investing in stocks of firms with greater financial strength primarily because of institutional demand for stocks with better F-scores and the gradual incorporation of public information into stock prices. Stock return momentum and institutional momentum trading cannot fully explain the relationships between the F-score and subsequent returns and the F-score and subsequent institutional demand."


Inevitable slow recoveries?
"If a slow recovery is the inevitable result of a financial crisis, why was the Administration forecasting the "normal" fast recovery all along? The natural conclusion is that the administration thought, as I thought, that the economy should have grown quickly, as it typically has in the past. The "slow growth after financial crises" isn't a fact in the first place. And to the extent that it is a fact (it's a "fact" over a sample of countries not very representative of the US now), slow growth is not the inevitable result of a financial crisis itself, but a result of the mismanaged policy that typically follows a financial crisis, such as bailouts, close-the-barn-door-after-the-horse leaves banking regulation, trampling of property rights that scare creditors away, high taxes and so forth."


Statistically significant?
"A new paper by psychologists E.J. Masicampo and David Lalande finds that an uncanny number of psychology findings just barely qualify as statistically significant."


Apocalypse not
"When the sun rises on December 22, as it surely will, do not expect apologies or even a rethink. No matter how often apocalyptic predictions fail to come true, another one soon arrives. And the prophets of apocalypse always draw a following.from the 100,000 Millerites who took to the hills in 1843, awaiting the end of the world, to the thousands who believed in Harold Camping, the Christian radio broadcaster who forecast the final rapture in both 1994 and 2011."



DOW 30 Value Screens

High Dividend Yield StocksP/EP/BP/SYield
AT&T (T)1435
Verizon (VZ)1245
Merck (MRK)2315
Pfizer (PFE)2415
Johnson & Johnson (JNJ)1315
Procter & Gamble (PG)2325
EI DuPont (DD)4144
Intel (INTC)4324
McDonald's (MCD)3114
General Electric (GE)2434
Notes | More Info...


Low Price/Earnings StocksP/EP/BP/SYield
Hewlett-Packard (HPQ)5553
Chevron (CVX)5544
JP Morgan Chase (JPM)5534
Bank of America (BAC)5541
Exxon Mobil (XOM)5353
Caterpillar (CAT)5252
Intel (INTC)4324
Travelers (TRV)4543
Boeing (BA)4152
Cisco (CSCO)4422
Notes | More Info...


Value Ratio StocksP/EP/BP/SYieldV.R.
Chevron (CVX)55442.62
JP Morgan Chase (JPM)55342.67
Hewlett-Packard (HPQ)55532.81
Intel (INTC)43243.29
Exxon Mobil (XOM)53533.59
EI DuPont (DD)41444.03
Travelers (TRV)45434.04
Caterpillar (CAT)52524.20
Pfizer (PFE)24154.81
McDonald's (MCD)31145.13
Notes | More Info...


US Stock SummaryYieldP/EV.R.
Intel (INTC)YYY
Caterpillar (CAT)YY
Chevron (CVX)YY
EI DuPont (DD)YY
Exxon Mobil (XOM)YY
Hewlett-Packard (HPQ)YY
JP Morgan Chase (JPM)YY
McDonald's (MCD)YY
Pfizer (PFE)YY
Travelers (TRV)YY
AT&T (T)Y
Bank of America (BAC)Y
Boeing (BA)Y
Cisco (CSCO)Y
General Electric (GE)Y
Johnson & Johnson (JNJ)Y
Merck (MRK)Y
Procter & Gamble (PG)Y
Verizon (VZ)Y
Notes...



S&P/TSX60 Value Screens

High Dividend Yield StocksP/EP/BP/SYield
TransAlta (TA)0345
Penn West Petroleum (PWT)2525
Enerplus (ERF)0525
Canadian Oil Sands (COS)4225
Sun Life Financial (SLF)0555
ARC Resources (ARX)1215
BCE Inc. (BCE)3145
Power Corp of Canada (POW)5555
Bank of Montreal (BMO)5335
Shaw (SJR.B)3235
Notes | More Info...


Low Price/Earnings StocksP/EP/BP/SYield
First Quantum (FM)5311
Bombardier (BBD.B)5153
Barrick Gold (ABX)5423
National Bank (NA)5334
Teck Resources (TCK.B)5543
Inmet Mining (IMN)5521
Magna (MG)5553
Power Corp of Canada (POW)5555
Agrium (AGU)5241
Bank of Montreal (BMO)5335
Notes | More Info...


Value Ratio StocksP/EP/BP/SYieldV.R.
Canadian Oil Sands (COS)42251.86
National Bank (NA)53342.09
Power Corp of Canada (POW)55552.11
Bank of Montreal (BMO)53352.28
CIBC (CM)42352.38
Penn West Petroleum (PWT)25252.57
BCE Inc. (BCE)31452.78
Shaw (SJR.B)32352.89
Bank of Nova Scotia (BNS)43342.91
Husky Energy (HSE)34442.93
Notes | More Info...


Canadian Stock SummaryYieldP/EV.R.
Bank of Montreal (BMO)YYY
Power Corp of Canada (POW)YYY
BCE Inc. (BCE)YY
Canadian Oil Sands (COS)YY
National Bank (NA)YY
Penn West Petroleum (PWT)YY
Shaw (SJR.B)YY
ARC Resources (ARX)Y
Agrium (AGU)Y
Bank of Nova Scotia (BNS)Y
Barrick Gold (ABX)Y
Bombardier (BBD.B)Y
CIBC (CM)Y
Enerplus (ERF)Y
First Quantum (FM)Y
Husky Energy (HSE)Y
Inmet Mining (IMN)Y
Magna (MG)Y
Sun Life Financial (SLF)Y
Teck Resources (TCK.B)Y
TransAlta (TA)Y
Notes...



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