"Price is what you pay, value is what you get"  - Charlie Munger


Stingy Links
http://www.stingyinvestor.com/SI/articles/articlearchive.shtml

Panic of 1907 or not, trading stops on good friday
http://www.bloomberg.com/apps/news?pid=20601109&sid=ah0kck1JAYSk&refer=home
"The New York Stock Exchange is closed today, as it has been every Good
Friday for almost 150 years, except 1898, 1906 and 1907. That last one was
the same year as the infamous Panic of 1907, when the aggregate value of all
U.S. stocks plunged by more than a third. Hence, a legend that persists
101 years later: Traders get to stay home the Friday before Easter not just
because it's a Christian holy day but because of its association with one
of history's great bear markets."

What makes a tightwad
http://www.theglobeandmail.com/servlet/story/RTGAM.20080319.wspending19/BNStory/International/home
"The researchers were surprised to find that despite perceptions that
people always overspend, chronic underspending was far more widespread than
thought, with tightwads outnumbering spendthrifts by 3 to 2. But researcher
Scott Rick from the University of Pennsylvania said they found it wasn't
the cost of an item or someone's income level that had an impact on their
spending. Tightwads reported feeling an emotional pain when handing over
their money. Spendthrifts, on the other hand, felt pleasure making a
purchase."

When OSC goes green, lawyers see red
https://secure.globeadvisor.com/servlet/ArticleNews/story/gam/20080319/LAWMAIN19
"The regulator says financial estimates must be provided to investors where
quantitative information is "reasonably available," and the company
should explain that the estimate is highly uncertain. It should also consider
providing the upper and lower ranges of financial exposure, as well as an
analysis of the likelihood the event will actually occur. Almost overnight,
environmental liability has been escalated to a major governance issue.
Public companies are being asked to come clean or risk a big legal mess.
But at least one of the country's senior environmental lawyers says the OSC
is asking for trouble."

Chou's annual report for 2007
http://www.choufunds.com/pdf/AR07.pdf
"We are long term investors and, in general, our bias has been to
concentrate on stock selections and not worry about currency fluctuations. With
years like 2007, the question arises as to whether there have been major
disparities in annualized returns over the long term between a hedged
portfolio and an unhedged portfolio; in other words, does one offer more
advantageous performance results during currency fluctuations? Two studies, one
covering the period from 1975 through 1988 and the other from 1988 through
2003, confirm that with respect to the long term there have been no material
differences in returns."


S&P/TSX60 Value Screens
http://www.stingyinvestor.com/SI/strategy.shtml 

High Dividend Yield Stocks                     P/E P/B P/S P/C P/D Yield*
============================================== === === === === === ======
Biovail (BVF)                                   5   5   3   5   5    5
Bank of Montreal (BMO)                          4   5   4   1   5    5
CIBC (CM)                                       2   4   5   5   5    5
National Bank of Canada (NA)                    3   4   4   5   5    5
Royal Bank (RY)                                 4   3   4   5   5    5
Telus (T)                                       4   4   4   5   5    5
Bank of Nova Scotia (BNS)                       4   3   3   1   5    5
Shaw Comm Cl.B (SJR.B)                          2   1   2   4   5    5
BCE (BCE)                                       3   3   4   4   5    5
TransCanada (TRP)                               2   4   2   4   4    4
More Info: http://www.stingyinvestor.com/SI/strategy/dogs.shtml 

Value Ratio Stocks                             P/E P/B P/S P/C P/D  VR
============================================== === === === === === =====
Biovail (BVF)                                   5   5   3   5   5   0.4
Thomson (TOC)                                   5   4   2   2   4   1.7
Bank of Montreal (BMO)                          4   5   4   1   5   1.7
Telus (T)                                       4   4   4   5   5   2.6
Royal Bank (RY)                                 4   3   4   5   5   2.7
Bank of Nova Scotia (BNS)                       4   3   3   1   5   2.7
National Bank of Canada (NA)                    3   4   4   5   5   2.7
Toronto Dominion Bank (TD)                      4   4   3   2   4   3.0
Husky Energy (HSE)                              4   2   3   3   4   3.1
BCE (BCE)                                       3   3   4   4   5   3.3
More Info: http://www.stingyinvestor.com/SI/strategy/valueratio.shtml 

Graham Stocks                                  P/E P/B P/D   G$   dG$(%)
============================================== === === === ====== ======
ACE Aviation Holdings Inc. (ACE.B)              5   5   0   92.79 356.44
Lundin Mining Corporation (LUN)                 5   5   0   18.42 178.28
MDS Inc. (MDS)                                  5   5   0   47.15 155.29
Biovail (BVF)                                   5   5   5   19.60  66.38
Thomson (TOC)                                   5   4   4   55.83  57.49
Magna Cl.A (MG.A)                               4   5   3  104.42  49.41
Nova (NCX)                                      5   4   3   36.09  47.50
Petro Canada (PCA)                              5   4   2   55.61  30.01
Talisman Energy (TLM)                           5   3   2   18.21  13.40
Bank of Montreal (BMO)                          4   5   5   50.39  13.22
Canadian Pacific Rail (CP)                      4   4   2   70.12   8.81
Sun Life (SLF)                                  3   5   4   49.36   7.73
Canadian Tire Corporation Limited (CTC.A)       3   4   2   66.04   5.06
Telus (T)                                       4   4   5   42.63   0.56
Teck Cominco Limited (TCK.B)                    4   3   3   38.35   0.21
More Info: http://www.stingyinvestor.com/SI/strategy/graham.shtml 

*Notes: http://www.stingyinvestor.com/SI/strategy/notes.shtml 

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Books for Stingy Investors

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http://www.rotheryreport.com/ 

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ISSN 1499-2795 Copyright Dan Hallett and Associates Inc., 2008.
All rights reserved. The securities mentioned in this report are not
appropriate for all investors. Consult your professional investment
advisor before making any investment decision.  While all reasonable
effort is made to ensure the accuracy of information and data
contained herein, accuracy can not be guaranteed. Past performance is
not a good predictor of future performance.  Results are not
guaranteed and we assume no liability whatsoever for any material
losses that may occur.  No compensation for suggesting particular
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information in this newsletter, and in its related website, is not
intended to be, nor does it constitute, financial advice or
recommendations.  Investing in stocks can be risky and may result in
substantial losses.  A Dan Hallett and Associates Inc.(DH&A)
publication.  DH&A is registered as Investment Counsel in the province
of Ontario. DH&A, or related-parties may have an interest in the
securities mentioned.