Stingy Investor Contact - Subscribe - Login
  Home | Articles | Screens | Links | SNW | Rothery Report
 
The Stingy News Weekly (04/29/2012)


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


Stingy Links

Cutting back on bonds
"The strongest consensus I could find relates to interest rates. There are few managers who aren’t running light on bonds and/or keeping their maturities short (including holding cash) to protect against rising rates. Carl Hoyt at Seymour Investment Management used Warren Buffett’s words to make the point. “Current rates … do not come close to offsetting the purchasing-power risk that investors assume. Right now bonds should come with a warning label.”"


Mawer Q1
"In Fairfax Financial’s Annual Letter to Shareholders, Prem Watsa observes, “there are more condos in construction in Toronto than in the 12 major cities in the U.S. combined, including New York and Los Angeles.” According to the Toronto Real Estate Board, the average condominium in the City of Toronto went for $361,488 in the fourth quarter of 2011, up 7% year-over-year. Condo sales were up 10.5% year-over-year. The average sales price to list price registered 98%, which is well above the historical long-term average. The Toronto condo market is hot. Looking at the situation from a national perspective, the Canadian Real Estate Association reported that the average house price in Canada was $372,763 in February 2012. This compares to the $203,100 average price reported by the National Association of Realtors in the United States. Our question is simple: why should the average house in Canada sell for 84% more than the average house in the United States over the long run?"


Real house prices
"The Shiller graph has suggested to many observers that house prices track inflation (i.e. that house prices adjusted for inflation are stable - except for bubbles). Last year I pointed out the slope depends on the data series used, and that if Professor Shiller had used either Corelogic or the Freddie Mac house prices series, before Case-Shiller was available, there would a greater upward slope to his graph."


Corruption Law
"Increasingly, the FCPA has become a tool for American prosecutors to police the world's large multinationals. Corporations whose shares trade on American exchanges are considered fair targets. So are corrupt transactions that pass through American banks. Using that theory, the Justice Department brought a case against against Japan's JPC, a company that, as the Shearman and Sterling report put it, had 'no apparent commercial connection with the United States whatsoever.' Rather than test the government's arguments in court, and risk criminal convictions for their executives, most companies have chosen to settle using deferred prosecution agreements."


McGuinty's high-income tax
"The new, higher marginal tax rate proposed comes dangerously close to the psychological threshold of 50 per cent where individuals become extremely frustrated with the prospect of paying more to the government than they keep for themselves. Mr. McGuinty is only fooling himself if he thinks that wealthy Ontarians will do nothing about it."



DOW 30 Value Screens

High Dividend Yield StocksP/EP/BP/SYield
AT&T (T)1435
Verizon (VZ)1245
Merck (MRK)2325
Pfizer (PFE)2415
Johnson & Johnson (JNJ)2315
General Electric (GE)3535
Procter & Gamble (PG)2324
Chevron (CVX)5454
EI DuPont (DD)4134
Kraft (KFT)1444
Notes | More Info...


Low Price/Earnings StocksP/EP/BP/SYield
Chevron (CVX)5454
Hewlett-Packard (HPQ)5552
JP Morgan Chase (JPM)5533
Exxon Mobil (XOM)5352
Microsoft (MSFT)5213
Intel (INTC)4314
Wal-Mart (WMT)4353
Caterpillar (CAT)4142
American Express (AXP)4221
EI DuPont (DD)4134
Notes | More Info...


Value Ratio StocksP/EP/BP/SYieldV.R.
Chevron (CVX)54542.55
JP Morgan Chase (JPM)55333.57
Intel (INTC)43144.01
Merck (MRK)23254.33
Hewlett-Packard (HPQ)55524.56
Exxon Mobil (XOM)53524.65
EI DuPont (DD)41344.65
General Electric (GE)35354.68
Microsoft (MSFT)52134.69
Pfizer (PFE)24154.78
Notes | More Info...


US Stock SummaryYieldP/EV.R.
Chevron (CVX)YYY
EI DuPont (DD)YYY
Exxon Mobil (XOM)YY
General Electric (GE)YY
Hewlett-Packard (HPQ)YY
Intel (INTC)YY
JP Morgan Chase (JPM)YY
Merck (MRK)YY
Microsoft (MSFT)YY
Pfizer (PFE)YY
AT&T (T)Y
American Express (AXP)Y
Caterpillar (CAT)Y
Johnson & Johnson (JNJ)Y
Kraft (KFT)Y
Procter & Gamble (PG)Y
Verizon (VZ)Y
Wal-Mart (WMT)Y
Notes...



S&P/TSX60 Value Screens

High Dividend Yield StocksP/EP/BP/SYield
Enerplus (ERF)1525
TransAlta (TA)4445
Penn West Petroleum (PWT)4525
ARC Resources (ARX)1315
Sun Life Financial (SLF)0555
Canadian Oil Sands (COS)5225
BCE Inc. (BCE)3145
CIBC (CM)5235
Bank of Montreal (BMO)4435
Husky Energy (HSE)5445
Notes | More Info...


Low Price/Earnings StocksP/EP/BP/SYield
Iamgold (IMG)5423
Research In Motion (RIM)5550
Bombardier (BBD.B)5353
Teck Resources (TCK.B)5533
Barrick Gold (ABX)5322
Canadian Oil Sands (COS)5225
Agrium (AGU)5241
Inmet Mining (IMN)5511
Magna (MG)5453
CIBC (CM)5235
Notes | More Info...


Value Ratio StocksP/EP/BP/SYieldV.R.
Canadian Oil Sands (COS)52251.65
TransAlta (TA)44451.75
Penn West Petroleum (PWT)45252.00
CIBC (CM)52352.27
Husky Energy (HSE)54452.32
Bank of Montreal (BMO)44352.37
Enerplus (ERF)15252.48
BCE Inc. (BCE)31452.57
Power Corp of Canada (POW)44542.73
Iamgold (IMG)54232.75
Notes | More Info...


Canadian Stock SummaryYieldP/EV.R.
CIBC (CM)YYY
Canadian Oil Sands (COS)YYY
BCE Inc. (BCE)YY
Bank of Montreal (BMO)YY
Enerplus (ERF)YY
Husky Energy (HSE)YY
Iamgold (IMG)YY
Penn West Petroleum (PWT)YY
TransAlta (TA)YY
ARC Resources (ARX)Y
Agrium (AGU)Y
Barrick Gold (ABX)Y
Bombardier (BBD.B)Y
Inmet Mining (IMN)Y
Magna (MG)Y
Power Corp of Canada (POW)Y
Research In Motion (RIM)Y
Sun Life Financial (SLF)Y
Teck Resources (TCK.B)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 03/31/2012)
Average Capital Gain
38.9%



Graham Value Stocks
(Learn More)

The Graham Value Stocks letter is designed for investors who want to keep up with our sensational stock selection methods inspired by Benjamin Graham. We comb through mountains of data to highlight U.S. and Canadian stocks that we believe to be both cheap and relatively safe.

Graham Portfolio Performance
(3/2009 to 3/2012)
Simple WayDividend WayDefensive
+147%C+131%U+46%C+120%U+176%U



Stingy News Weekly
The Latest Edition

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

2017
  11: 06 12 20
  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...