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The Stingy News Weekly: 11/22/2020


New from Norm

Don't count out value
"The announcement buoyed the market and value stocks in particular. I've been investing for almost three decades and don't remember a time when several of my stocks gained more than 20 per cent in a single day. But it happened on Nov. 9, when advances north of 5 per cent seemed to be the norm for value stocks." [$]


Stingy Links

Canadian bills lose legal tender status
"The Bank of Canada issued a reminder on Thursday that hundreds of millions of $1, $2, $25, $500, and $1,000 bank notes will have their legal tender status removed as of Jan. 1, 2021."
[Markets]

Delaying CPP
"Delaying CPP and Quebec Pension Plan (QPP) payments is the surest way to secure lifelong income, MacDonald said, but very few Canadians are taking advantage. More than 95% of Canadians start taking their CPP/QPP benefits at 65 or earlier, and fewer than 1% wait until they're 70."
[Retirement]

Day traders lose money
"Large increases in Robinhood users are often accompanied by large price spikes and are followed by reliably negative returns."
[Markets]

Great company, wrong price
"The one thing he would point out is his strong belief that there is a difference between a company and its stock price. He believes that when a stock price underreacts to great things, or overreacts to terrible things, this creates opportunities. He also believes that you can pay too much for a good company. He believes this, because as mentioned above, he covered tech stocks during the tech bubble and its aftermath."
[Markets]

Homes in a bubble
"The bad news is all previous history came at higher mortgage rates. The average 30-year fixed mortgage rate fell below 3% for the first time in August 2020, and rates are close to the lowest possible levels given the credit risk and costs of writing mortgages. It's one thing to be a peak valuation, it's another to be at peak valuation with no discernable upside."
[Real Estate]

Locking it in
"Regardless of how long the current downturn lasts, we believe current oil prices are unsustainable as they trade below the breakeven price of most major producers."
[World]

Horses for courses
"Had you bet on large growth in the early '60s after it had built up a lead on small value over half a decade, you would have missed one of the best opportunities to bet on the opposite horse. Had you done it again in 1974 when large growth had really pulled ahead by double digits, you would have missed out again. Same for the early '90s and, of course, March of 2000. Today, large growth is way ahead of small value."
[Value Investing]

A work-from-home tax
"One economist thinks there are negative externalities and even net costs to the individual in working from home; the other thinks it is an inarguable optimum"
[Taxes]

Sequence risk
"Financial planners are keenly aware of, and routinely warn clients about, sequence risk; that is, the possibility of facing a sequence of low returns early in retirement that may force retirees to scale down the plans they had made. This really is a scary scenario, but one that the evidence here shows that retirees are not very likely to encounter. A new and refined definition of sequence risk is advanced in this article, linking this type of risk to the sustainability of a withdrawal strategy. Furthermore, three ways of assessing sequence risk are proposed, among them one that enables a retiree to monitor the sustainability of his withdrawal strategy periodically and to introduce adjustments when necessary. The ultimate message of this article is that retirees should be informed, but not obsess, about sequence risk."
[Retirement]


S&P/TSX60 Value Screens

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


Low Price/Earnings StocksP/EP/BP/SYield
Canadian Apartment REIT (CAR.UN)AAEC
Kinross Gold (K)ACDF
Power Corp of Canada (POW)AAAA
Manulife (MFC)AAAA
Bank of Nova Scotia (BNS)ABCA
National Bank (NA)ACCB
TC Energy (TRP)ACDA
CIBC (CM)ABCA
TD Bank (TD)ABCB
Bank of Montreal (BMO)BBBB
Notes | More Info...


Low Price/Book Value StocksP/EP/BP/SYield
Cenovus Energy (CVE)FAAF
Teck Resources (TECK.B)FABE
Brookfield Property Partners (BPY.UN)FABA
Imperial Oil (IMO)FAAB
Suncor Energy (SU)FABB
Manulife (MFC)AAAA
Power Corp of Canada (POW)AAAA
First Quantum (FM)FADE
Canadian Apartment REIT (CAR.UN)AAEC
Cdn Natural Resources (CNQ)FABA
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
TC Energy (TRP)YY
BCE Inc. (BCE)Y
Bank of Montreal (BMO)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
TD Bank (TD)Y
Teck Resources (TECK.B)Y
Notes...


DOW 30 Value Screens

High Dividend Yield StocksP/EP/BP/SYield
Chevron (CVX)EAAA
IBM (IBM)ACAA
Walgreens (WBA)EBAA
Verizon (VZ)ABBA
Cisco (CSCO)BCCA
3M (MMM)CDCB
Merck (MRK)BDDB
JP Morgan Chase (JPM)AACB
Coca-Cola (KO)CEEB
Intel (INTC)ABBB
Notes | More Info...


Low Price/Earnings StocksP/EP/BP/SYield
Intel (INTC)ABBB
Goldman Sachs (GS)AABD
IBM (IBM)ACAA
Verizon (VZ)ABBA
JP Morgan Chase (JPM)AACB
Travelers (TRV)BAAC
Cisco (CSCO)BCCA
Merck (MRK)BDDB
(AMGN)BEDC
DuPont (DD)BABD
Notes | More Info...


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


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



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2015
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