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The Stingy News Weekly: 09/11/2020


New from Norm

Dividend investing success
"The U.S. market generated annual gains of 11.4 per cent versus 10.2 per cent gains in Canada. It was a good period for stocks. Similarly, the high-yield portfolios outpaced the markets in both countries. The Canadian high-yield portfolio fared particularly well with gains of 14.1 per cent versus 12.4 per cent in the United States." [$]


Stingy Links

Government bonds are duds
"But while the income side of the equation for bonds was clearly not what it once was, until very recently we have continued to assume that bonds could accomplish their other important task, providing capital gains in the event of an economic disaster. This winter, U.S. Treasuries once again did their hedging job admirably, providing substantial positive returns when riskier assets fell in the early stages of the Covid-19 crisis. But that success has come at a cost. At today's yields, U.S. Treasuries not only fail to provide a useful amount of yield to investors but also have likely lost their ability to hedge in the event of further economic trouble."
[Bonds]

Settling the size matter
"We conclude that size is weak as a stand-alone factor but a powerful catalyst for other factors."
[Markets]

The 60/40 Portfolio
"The 10 year treasury yielded 2.2% at the outset of 1940. By the start of 1980 it was up to 10.8%. Today it's roughly 0.7%. The 60/40 portfolio will assuredly have lower returns over the next 40 years than it had over the last 40 years. That's simple math based on starting yields for bonds."
[Markets]

Drawdowns in wonderful companies
"Investors in the greatest companies faced a drawdown of 32.5%, on average, despite being one of the greatest decades of performance ever. That was just the largest drawdown, on average. It says nothing of the second, third, and so on drawdowns during the same decade."
[Markets]

Crowding in large tech
"I say to you 'lighten up on your large cap tech positions.' Those who own those positions have short time horizons, and may bolt. There is no way these companies grow into their valuations, so don't think you can hold on for years. This is just a mania, and as such, it will meet its end."
[Markets]

Seasonal patterns in the Canadian market
"There is a January effect in Canada and, more importantly for this time of the year, a 'sell in May and go away' effect. In fact, the average annual rate of return over the last 60 years (1957-2018) would have been 17% had investors gone long in the equally weighted index in November-April and gotten out of risky securities altogether in the May-October semi-annual period and, over that period, invested instead heavily (and exclusively) in government of Canada bonds. It would have been 18% in the 1988-2018 sub-period."
[Markets]

Pleasures of sex and berries
"Our ancestors have spent a few hundred years in cities at most. Before that, they spent a million years or more on what was essentially a perpetual camping trip, most of it in Africa. Little wonder then that people are more easily scared of snakes than cars, of deep water than speed, of spiders than guns. We are, to a significant extent, adapted to the environment we evolved in, rather than the one most of us now inhabit."
[Science]


S&P/TSX60 Value Screens

High Dividend Yield StocksP/EP/BP/SYield
Brookfield Property Partners (BPY.UN)FAAA
Pembina Pipeline (PPL)CBDA
Enbridge (ENB)EBCA
Cdn Natural Resources (CNQ)EABA
Power Corp of Canada (POW)AAAA
Bank of Nova Scotia (BNS)ABCA
Manulife (MFC)AAAA
BCE Inc. (BCE)DDDA
CIBC (CM)ABCA
TC Energy (TRP)BCDA
Notes | More Info...


Low Price/Earnings StocksP/EP/BP/SYield
Canadian Apartment REIT (CAR.UN)AAEC
Manulife (MFC)AAAA
Bank of Nova Scotia (BNS)ABCA
Bank of Montreal (BMO)ABBA
Power Corp of Canada (POW)AAAA
CIBC (CM)ABCA
Barrick Gold (ABX)ADED
National Bank (NA)ACCC
Kinross Gold (K)ACDF
TD Bank (TD)BBCB
Notes | More Info...


Low Price/Book Value StocksP/EP/BP/SYield
Brookfield Property Partners (BPY.UN)FAAA
Cenovus Energy (CVE)FAAF
Teck Resources (TECK.B)FABD
Imperial Oil (IMO)FAAB
First Quantum (FM)FACE
Manulife (MFC)AAAA
Suncor Energy (SU)FABB
Cdn Natural Resources (CNQ)EABA
Power Corp of Canada (POW)AAAA
Canadian Apartment REIT (CAR.UN)AAEC
Notes | More Info...


Canadian Stock SummaryYieldP/EP/B
Manulife (MFC)YYY
Power Corp of Canada (POW)YYY
Bank of Nova Scotia (BNS)YY
Brookfield Property Partners (BPY.UN)YY
CIBC (CM)YY
Canadian Apartment REIT (CAR.UN)YY
Cdn Natural Resources (CNQ)YY
BCE Inc. (BCE)Y
Bank of Montreal (BMO)Y
Barrick Gold (ABX)Y
Cenovus Energy (CVE)Y
Enbridge (ENB)Y
First Quantum (FM)Y
Imperial Oil (IMO)Y
Kinross Gold (K)Y
National Bank (NA)Y
Pembina Pipeline (PPL)Y
Suncor Energy (SU)Y
TC Energy (TRP)Y
TD Bank (TD)Y
Teck Resources (TECK.B)Y
Notes...


DOW 30 Value Screens

High Dividend Yield StocksP/EP/BP/SYield
Chevron (CVX)DAAA
Walgreens (WBA)EBAA
IBM (IBM)ACBA
Verizon (VZ)ABBA
Cisco (CSCO)ACDA
JP Morgan Chase (JPM)AACB
3M (MMM)BDCB
Coca-Cola (KO)CEEB
Travelers (TRV)BAAB
Merck (MRK)CDDB
Notes | More Info...


Low Price/Earnings StocksP/EP/BP/SYield
Intel (INTC)ABCC
Verizon (VZ)ABBA
JP Morgan Chase (JPM)AACB
IBM (IBM)ACBA
Cisco (CSCO)ACDA
Goldman Sachs (GS)BABC
Travelers (TRV)BAAB
DuPont (DD)BABD
UnitedHealth (UNH)BCAE
3M (MMM)BDCB
Notes | More Info...


Low Price/Book Value StocksP/EP/BP/SYield
Goldman Sachs (GS)BABC
Travelers (TRV)BAAB
Chevron (CVX)DAAA
DuPont (DD)BABD
JP Morgan Chase (JPM)AACB
Walgreens (WBA)EBAA
Intel (INTC)ABCC
Walt Disney (DIS)EBCF
Verizon (VZ)ABBA
American Express (AXP)CBBD
Notes | More Info...


US Stock SummaryYieldP/EP/B
JP Morgan Chase (JPM)YYY
Travelers (TRV)YYY
Verizon (VZ)YYY
3M (MMM)YY
Chevron (CVX)YY
Cisco (CSCO)YY
DuPont (DD)YY
Goldman Sachs (GS)YY
IBM (IBM)YY
Intel (INTC)YY
Walgreens (WBA)YY
American Express (AXP)Y
Coca-Cola (KO)Y
Merck (MRK)Y
UnitedHealth (UNH)Y
Walt Disney (DIS)Y
Notes...



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2020
  10: 03 11 18 24
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2019
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2018
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2017
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2015
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2014
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2010
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Disclaimers: Consult with a qualified investment adviser before trading. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, financial advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. More...