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The Stingy News Weekly (01/16/2011)


"The intelligent investor is likely to need considerable will power to keep from following the crowd."
- Benjamin Graham


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Worthless Stocks from China
"Bird's involvement would evolve from irritation that a company could get away with making a claim that so obviously defies basic business logic to the conviction that many pieces of the Chinese miracle that trade in the U.S. are, in his words, 'flat-ass' frauds. And what started as a retiree looking into a company has turned into a dispute that has drawn in other shorts, the Securities and Exchange Commission, auditors, and, according to recent reports, the U.S. House Committee on Financial Services. It has also revealed significant flaws in U.S. markets and how they are regulated. Although the stocks trade on U.S. exchanges, and thus project a sense of having to play by American rules, the assets and the principals of many of the companies reside in China. The companies operate on their terms, leaving injured parties and the SEC powerless. Bird says the carnage is just beginning. 'The whole thing has no place to go but to blow up,' he says. 'That's a rational position for an investor to start with, that every one of these Chinese reverse mergers is a fraud.'"


Is Law School a Losing Game?
"Based on the seething and regret you hear from some law school grads, more than a few wish that someone had been patronizing enough to say, ďOh no you donít.Ē But itís often hard to convince students about the potential downside of law school, says Kimber A. Russell, a 37-year-old graduate of DePaul, who writes the Shilling Me Softly blog. ďThis idea of exceptionalism ó I donít know if itís a thing with millennials, or what,Ē she says, referring to the generation now in its 20s. ďEven if you tell them the bottom has fallen out of the legal market, theyíre all convinced that none of the bad stuff will happen to them. Itís a serious, life-altering decision, going to law school, and youíre dealing with a lot of naÔve students who have never had jobs, never paid real bills.Ē"


A Brief Visual History of U.S. Taxes
"Tax reform might be The Issue of 2011. Or, like most years, it might linger on the sidelines of the national debate, but never press its way into the limelight. Either way, the Senate Finance Committee is hearing the case for tax reform today -- and who better to hear from first than the head of the Joint Committee on Taxation, Congress' official oracle and arbiter of tax policy. You can download the full testimony here, but I wanted to pass along four easy charts from the presentation that explain some major developments in the tax code over the last 40 years. I don't want to say too much, as these charts speak for themselves."


Putting monthly distributions to the test
"I donít make many bold predictions. But nearly a decade ago I did just that. I challenged the most popular monthly income mutual fund of the day, now known as IA Clarington Canadian Income. I stated that this balanced fundís 10% distribution rate at the time could not be sustained and would have to be cut. No recommendation has ever caused me such grief. I received angry phone calls and e-mails. But I turned out to be right. Fast forward to 2011. In todayís Global and Mail I take readers through a process for testing whether an investmentís monthly cash payout can continue longer-term. Itís the same process I used to make my Clarington prediction in 2001. While Clarington and some other firms have adopted more flexible distribution policies, several funds continue to sport unsustainable cash payouts. And I use a popular big bank fund to illustrate our distribution sustainability test in todayís article."



DOW 30 Value Screens

High Dividend Yield StocksP/EP/BP/SP/DYield
AT&T (T)55455
Verizon (VZ)13555
Pfizer (PFE)14255
Merck (MRK)44255
Kraft (KFT)55455
Johnson & Johnson (JNJ)42144
McDonald's (MCD)21144
EI DuPont (DD)32344
Chevron (CVX)54444
General Electric (GE)14444
Notes | More Info...


Value Ratio StocksP/EP/BP/SP/DVR
AT&T (T)55451.29
Travelers (TRV)55432.85
Merck (MRK)44253.23
Kraft (KFT)55453.27
Chevron (CVX)54443.58
Johnson & Johnson (JNJ)42143.67
Intel (INTC)53133.80
EI DuPont (DD)32344.48
McDonald's (MCD)21144.95
Procter & Gamble (PG)23245.37
Notes | More Info...


Graham-Lite StocksP/EP/BP/DG$dG$(%)
Travelers (TRV)55397.3678.22
AT&T (T)55540.0340.82
JP Morgan Chase (JPM)45158.6630.62
Kraft (KFT)55534.098.79
Chevron (CVX)54498.295.88
Notes | More Info...


Top US StocksYieldV.R.Graham
AT&T (T)YYY
Chevron (CVX)YYY
Kraft (KFT)YYY
EI DuPont (DD)YY
Johnson & Johnson (JNJ)YY
McDonald's (MCD)YY
Merck (MRK)YY
Travelers (TRV)YY
General Electric (GE)Y
Intel (INTC)Y
JP Morgan Chase (JPM)Y
Pfizer (PFE)Y
Procter & Gamble (PG)Y
Verizon (VZ)Y
Notes...



S&P/TSX60 Value Screens

High Dividend Yield StocksP/EP/BP/SP/DYield
Transalta (TA)24455
BCE (BCE)43455
Bank of Montreal (BMO)54355
Telus (T)43455
Husky Energy (HSE)34455
Sun Life (SLF)55555
CIBC (CM)52355
TransCanada (TRP)24255
Power Corp (POW)35555
Shaw Comm Cl.B (SJR.B)31255
Notes | More Info...


Value Ratio StocksP/EP/BP/SP/DVR
Bank of Montreal (BMO)54352.58
BCE (BCE)43452.92
Sun Life (SLF)55552.93
CIBC (CM)52353.04
National Bank (NA)53343.21
Telus (T)43453.41
Transalta (TA)24453.81
Rogers Comm Cl.B (RCI.B)51444.05
Shaw Comm Cl.B (SJR.B)31254.16
Bank of Nova Scotia (BNS)42244.22
Notes | More Info...


Graham-Lite StocksP/EP/BP/DG$dG$(%)
Encana (ECA)55439.5926.85
Sun Life (SLF)55539.3625.20
Nexen (NXY)55129.2121.31
Canadian Tire (CTC.A)45370.137.40
Bank of Montreal (BMO)54561.122.66
Kinross Gold (K)45117.032.46
Notes | More Info...


Top Canadian StocksYieldV.R.Graham
Bank of Montreal (BMO)YYY
Sun Life (SLF)YYY
BCE (BCE)YY
CIBC (CM)YY
Shaw Comm Cl.B (SJR.B)YY
Telus (T)YY
Transalta (TA)YY
Bank of Nova Scotia (BNS)Y
Canadian Tire (CTC.A)Y
Encana (ECA)Y
Husky Energy (HSE)Y
Kinross Gold (K)Y
National Bank (NA)Y
Nexen (NXY)Y
Power Corp (POW)Y
Rogers Comm Cl.B (RCI.B)Y
TransCanada (TRP)Y
Notes...



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