The Stingy News Weekly (01/12/2014)
New @ StingyInvestor
Asset Mixer Update
We've updated our Asset Mixer to include nominal data for 2013.
Periodic Table Update
We've updated our periodic table of annual returns for Canadians to include nominal data for 2013.
Professor Damodaran's updated stock data
"In 1992, I had just finished a spreadsheet that contained the average PE ratios for companies in different sectors in the United States. There was little of substance in it, but I decided that since I had it, I might as well share it. I posted that spreadsheet for students in my class to download and made it available to others who visited my website (more hopeful thinking than an actual plan, since there were relatively few people looking for data online). Each year since, I have added to the data collection, initially expanding my list of data items for US companies, and in the last decade, adding to the collection by looking at non-US companies. It is my first task each year and it takes up the first week of the year, and I just uploaded the data today for the 2014 update."
How did Zimbabwe become so poor
"Zimbabwe faces impossible challenges, unbearable choices. It has been a hard country to live in for the last ten years, and it is likely to remain one for the next ten. Every hyperinflation leaves a legacy that lasts for generations. In Zimbabwe, that legacy is just beginning."
The law of demand is a bummer
"The debate over the minimum wage, which, thanks to Barack Obama's state-of-the-union address, we appear to be having again, is a debate over the question of whether raising the price of something - low-skilled labour, in this case - will reduce demand for that thing. That is to say, it is a debate over the relevance of the law of demand, an enormously robust generalisation about human behaviour confirmed and re-confirmed each day by billions of individual decisions."
Mohnish Pabrai's Boston College talk
Set aside some time to watch Mr. Pabrai's presentation.
Optimism and credibility of stock spam
"This study examines attention-driven investment decisions using a sample of firms essentially unknown to investors prior to becoming the target of a stock spam campaign. We show that the market reaction to spam varies predictably with the content of the spam message. Spam date returns and volume are significantly higher for stocks targeted by spam emails containing optimistic target price projections bundled with ostensibly credible information quoted from a previously issued company press release. There is also some evidence that disclaimers in spam messages reduce, but do not eliminate, the market response. Attention effects also contribute to spammers. selection of stocks to target and to spam.related enforcement actions by the Securities and Exchange Commission."
Check out your advisor
"Securities regulators, insurance regulators and organizations governing financial designations all have online searchable databases that allow you to check out an advisor."
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