Stingy Investor Contact - Subscribe - Login
  Home | Articles | Screens | Links | SNW | Rothery Report
 
The Stingy News Weekly (03/27/2018)


"there are all kinds of wonderful new inventions that give you nothing as owners except the opportunity to spend a lot more money in a business that's still going to be lousy. The money still won't come to you. All of the advantages from great improvements are going to flow through to the customers."
- Charlie Munger


Stingy News Flash

If you're in Toronto from April 23 to April 26, you might want to enjoy a bit of Fairfax Lollapalooza 2018. There are a variety of events to chose from and an overview can be found at ...
http://www.cornerofberkshireandfairfax.ca/forum/events/fairfax-lollapalooza-2018/

I want to highlight three of the events.

The Fairfax Annual General Meeting is the big show. Aside from a dose of value investing, attendees are usually well fed and showered with free swag. But it's shareholder's only affair. See ...
https://www.fairfax.ca/news/events-and-webcasts/default.aspx

The Premier - Fairfax Financial Shareholder's Dinner is a charitable event. Speakers include Keith Smith, who I've highlighted in the Globe & Mail in the past, and the winners of the YYX Toronto Value conference who will present their investing ideas. Plus some high powered guests from Fairfax will talk to the crowd. The proceeds go to Crohn's and Colitis Canada. More details can be found at ...
https://www.pdh-inc.com/2018-premier-fairfax-conference.html

Industry types, and the well-to-do, should consider The Ben Graham Centre's Value Investing Conference. Dr. George puts on a good show and Mason Hawkins is the keynote speaker this year. (Be quick, prices are lower on or before March 28.) See ...
https://www.ivey.uwo.ca/bengrahaminvesting/events/2018/04/2018-value-investing-conference/

If you drop by, say hi!



New from StingyInvestor

The devil in the low-P/E details
"Value investors love to pick stocks with low price-to-earnings ratios and a wealth of studies back them up. But recent research indicates there might be a devil hiding in the details." [$]


Stingy Links

What's cheap?
"Stocks with high conviction buyback programs are as cheap as they've been since the tech bubble, and trending cheaper."
[Markets]

Momentum in Imperial Russia
"Some of the leading theories of momentum have different empirical predictions that depend on market composition and structure. The institutional theory predicts lower momentum profits in markets with less agency. Behavioral theories predict lower momentum profits in markets with more sophisticated investors. One risk-based theory predicts occasional momentum crashes. In this paper, we use a dataset from a major 19th century equity market to test these predictions. We find no evidence to support the institutional theory due to the lack of delegated management. We exploit a regulatory change in the middle of our sample period to test behavior theories. We find evidence consistent with overreaction theories of momentum. We find no evidence to support a rare disaster theory."
[Momentum Investing]

The billionaire whisperer
"For Bezos, Dimon, and Buffett, it was another splashy headline in careers that have pushed boundaries. Behind the scenes, though, Combs largely spearheaded the effort, according to a person familiar with the matter. For months, Combs shuttled among the CEOs to get them to commit to doing something about a problem they.d discussed informally for years, the person says."
[Buffett]

The lottery hackers
"After stopping in one morning at a convenience store he knew well, he picked up a brochure for a brand-new state lottery game. Studying the flyer later at his kitchen table, Jerry saw that it listed the odds of winning certain amounts of money by picking certain combinations of numbers. That's when it hit him. Right there, in the numbers on the page, he noticed a flaw - a strange and surprising pattern, like the cereal-box code, written into the fundamental machinery of the game. A loophole that would eventually make Jerry and Marge millionaires, spark an investigation by a Boston Globe Spotlight reporter, unleash a statewide political scandal and expose more than a few hypocrisies at the heart of America's favorite form of legalized gambling."
[Markets]


S&P/TSX60 Value Screens

High Dividend Yield StocksP/EP/BP/SYield
Inter Pipeline (IPL)3225
Enbridge (ENB)2445
Emera (EMA)1445
BCE Inc. (BCE)3135
Pembina Pipeline (PPL)2325
TransCanada (TRP)4225
Power Corp of Canada (POW)5555
Shaw (SJR.B)4235
CIBC (CM)5335
TELUS (T)3145
Notes | More Info...


Low Price/Earnings StocksP/EP/BP/SYield
Valeant Pharma (VRX)5550
Cenovus Energy (CVE)5553
Metro (MRU)5252
Teck Resources (TECK.B)5541
Power Corp of Canada (POW)5555
Magna (MG)5353
Barrick Gold (ABX)5441
CIBC (CM)5335
Kinross Gold (K)5540
National Bank (NA)5334
Notes | More Info...


Low Price/Book Value StocksP/EP/BP/SYield
Crescent Point (CPG)0544
Cenovus Energy (CVE)5553
Goldcorp (G)3521
Valeant Pharma (VRX)5550
Cameco (CCO)0534
Teck Resources (TECK.B)5541
Power Corp of Canada (POW)5555
Husky Energy (HSE)2552
First Quantum (FM)0521
Kinross Gold (K)5540
Notes | More Info...


Canadian Stock SummaryYieldP/EP/B
Power Corp of Canada (POW)YYY
CIBC (CM)YY
Cenovus Energy (CVE)YY
Kinross Gold (K)YY
Teck Resources (TECK.B)YY
Valeant Pharma (VRX)YY
BCE Inc. (BCE)Y
Barrick Gold (ABX)Y
Cameco (CCO)Y
Crescent Point (CPG)Y
Emera (EMA)Y
Enbridge (ENB)Y
First Quantum (FM)Y
Goldcorp (G)Y
Husky Energy (HSE)Y
Inter Pipeline (IPL)Y
Magna (MG)Y
Metro (MRU)Y
National Bank (NA)Y
Pembina Pipeline (PPL)Y
Shaw (SJR.B)Y
TELUS (T)Y
TransCanada (TRP)Y
Notes...


DOW 30 Value Screens

High Dividend Yield StocksP/EP/BP/SYield
Verizon (VZ)5255
Exxon Mobil (XOM)5455
IBM (IBM)3245
Chevron (CVX)3545
Pfizer (PFE)5425
Coca-Cola (KO)1115
Merck (MRK)1324
Procter & Gamble (PG)4334
General Electric (GE)0454
Cisco (CSCO)0314
Notes | More Info...


Low Price/Earnings StocksP/EP/BP/SYield
Verizon (VZ)5255
Pfizer (PFE)5425
Walt Disney (DIS)5432
Exxon Mobil (XOM)5455
JP Morgan Chase (JPM)5522
Apple (AAPL)4221
Travelers (TRV)4552
UnitedHealth (UNH)4351
Procter & Gamble (PG)4334
United Technologies (UTX)4443
Notes | More Info...


Low Price/Book Value StocksP/EP/BP/SYield
Goldman Sachs (GS)2531
Chevron (CVX)3545
DowDuPont (DWDP)1533
Travelers (TRV)4552
JP Morgan Chase (JPM)5522
Exxon Mobil (XOM)5455
General Electric (GE)0454
Pfizer (PFE)5425
Wal-Mart (WMT)2453
United Technologies (UTX)4443
Notes | More Info...


US Stock SummaryYieldP/EP/B
Exxon Mobil (XOM)YYY
Pfizer (PFE)YYY
Chevron (CVX)YY
General Electric (GE)YY
JP Morgan Chase (JPM)YY
Procter & Gamble (PG)YY
Travelers (TRV)YY
United Technologies (UTX)YY
Verizon (VZ)YY
Apple (AAPL)Y
Cisco (CSCO)Y
Coca-Cola (KO)Y
DowDuPont (DWDP)Y
Goldman Sachs (GS)Y
IBM (IBM)Y
Merck (MRK)Y
UnitedHealth (UNH)Y
Wal-Mart (WMT)Y
Walt Disney (DIS)Y
Notes...



The Rothery Report
(Learn More | Subscribe)

The Rothery Report provides research on select deep-value stocks in North America. Discover overlooked and undervalued stocks in quarterly investment reports which provide detailed analysis of Canadian and U.S. stocks. Weekly email news and additional updates keep subscribers informed about new opportunities and developments.

Rothery Report Performance
(03/31/2001 to 12/31/2017)
Average Capital Gain
52.0%


Stingy News Weekly
The Latest Edition

Get the Stingy News
via email with ...
The Rothery Report

2018
  12: 03
  11: 01 05 12 19 26
  10: 09 15 22
  09: 06 10 17 24 30
  08: 07 13 22 28
  07: 02 09 16 23 30
  06: 04 12 19 25
  05: 08 14 23 28
  04: 02 10 16 22 30
  03: 05 12 19 27
  02: 05 12 20 26
  01: 01 08 15 22 29
2017
  12: 04 11 18 24
  11: 06 12 20 27
  10: 01 07 16 23 30
  09: 04 11 17 23
  08: 07 16 20 28
  07: 02 09 16 23 30
  06: 04 11 18 26
  05: 07 14 21 28
  04: 02 09 16 23 30
  03: 05 12 19 26
  02: 05 12 19 26
  01: 02 07 15 22 29
2016
  12: 04 11 18 26
  11: 06 13 20 27
  10: 02 09 16 23 29
  09: 04 11 18 25
  08: 07 14 21 28
  07: 03 10 17 24 31
  06: 05 11 19 26
  05: 01 08 15 22
  04: 03 10 17 24
  03: 06 13 20 27
  02: 07 14 21 28
  01: 03 10 17 24 31
2015
  12: 06 13 20 27
  11: 01 08 15 22 29
  10: 04 10 18 25
  09: 05 13 20 27
  08: 17 23 30
  07: 05 12 19 26 31
  06: 06 14 21 28
  05: 03 09 17 23 31
  04: 04 12 19 26
  03: 01 07 15 22 28
  02: 07 14 21
  01: 04 12 18 25 31
2014
  12: 06 14 21 28
  11: 02 08 16 23 30
  10: 04 11 19 26
  09: 06 14 19 28
  08: 10 16 24 29
  07: 05 12 19 25
  06: 08 15 20 29
  05: 04 11 18 25 30
  04: 06 12 20 27
  03: 02 09 16 23 30
  02: 01 09 16 23
  01: 05 12 18 26
2013
  12: 02 09 16 30
  11: 03 11 17 24
  10: 06 14 20 27
  09: 09 16 23 30
  08: 04 10 25
  07: 07 15 21 28
  06: 03 09 16 23 30
  05: 05 12 19 26
  04: 07 14 21 28
  03: 03 11 17 24 31
  02: 04 10 17 24
  01: 06 13 20 27
2012
  12: 02 09 16 23 30
  11: 04 11 18 25
  10: 07 14 21 28
  09: 02 09 16 23 30
  08: 05 12 19 26
  07: 01 08 15 22 29
  06: 03 10 17 24
  05: 07 13 20 27
  04: 01 08 15 22 29
  03: 04 11 18 25
  02: 05 12 19 26
  01: 01 08 15 22 29
2011
  12: 04 11 18 25
  11: 06 13 20 27
  10: 02 09 16 23 30
  09: 04 11 18 25
  08: 07 14 21 28
  07: 03 10 17 24
  06: 05 12 19 26
  05: 01 08 15 22 29
  04: 04 10 17 24
  03: 06 13 20 27
  02: 06 13 20 27
  01: 02 09 16 23 30
2010
  12: 05 12 19 26
  11: 07 14 21 28
  10: 03 10 17 24 31
  09: 05 12 19 26
  08: 01 08 15 22 29
  07: 04 11 16 25
  06: 06 13 20 27
  05: 02 09 16 23 30
  04: 04 11 18 25
  03: 07 14 21 28
  02: 07 14 21 28
  01: 03 10 17 24 31

Archive

Stingy News Quarterly
2014: Q1 Discontinued
2013: Q1 Q2 Q3 Q4
2012: Q1 Q2 Q3 Q4
2011: Q1 Q2 Q3 Q4
2010: Q1 Q2 Q3 Q4
2009: Q1 Q2 Q3 Q4
2008: Q1 Q2 Q3 Q4
2007: Q1 Q2 Q3 Q4
2006: Q1 Q2 Q3 Q4
2005: Q1 Q2 Q3 Q4
2004: Q1 Q2 Q3 Q4
2003: Q1 Q2 Q3 Q4
2002: Q1 Q2 Q3 Q4
2001: Q1 Q2 Q3 Q4

Dan's Reports
About Dan

Privacy Policy


 
About Us | Legal | Contact Us
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...