The Stingy News Weekly (09/30/2012)
New @ StingyInvestor
The school of patience and pluck
"You don't need special sources of information or cutting-edge analysis to make money in the market. It helps, though, if you have patience and the willingness to buy stocks that other people despise. For proof, look to the career of Walter Schloss."
He's not a billionaire, he just plays one on TV
"'[O'Leary's] stated investment philosophy was at odds with what they are doing,' says Hallett. 'My basic conclusion was there was a lot more marketing than real investment steak.' When asked whether he would invest with O'Leary Funds today, Hallett said, 'There are no funds they have that really jump out at me.'"
A Grahamian diagnosis
"In a review of a book on statistics and predictions, Burton Malkiel says that the price/earnings multiple was 'devastatingly inaccurate' for much of the 1990s. Malkiel doesn't say whether he means a trailing P/E or the Cyclically Adjusted P/E (CAPE). Whatever the case, we think the Princeton professor is displaying the classic impatience of an inexperienced investor despite having spent his life studying the markets."
A lost decade for savers
"The 1990s were a lost decade for Japan. The 2000s delivered a lost decade to U.S. investors. Now, five years into the onset of the financial crisis, with stock and bond markets booming, housing resurgent, and even Detroit redeemed, it.s savers who find themselves in a lost decade."
Walter Schloss 2008 talk
"Get some inspiration from Walter's talk at the Ben Graham Centre for Value Investing"
65 years on Wall Street
"Walter Schloss talks at a Grant's event. An oldie but a goodie."
50 is the new 40 but ETFs are the new Mutual Funds
"For years I've been hearing from individual investors and financial advisors who are disappointed with their meagre long-term performance. This jives with calculations I completed four years ago, which showed that Canadian mutual fund investors largely missed out on the available risk premium over nearly 15 years prior to the worst of the last bear market (as illustrated in this chart). As a result, many have cast their mutual funds aside in favour of cheaper exchange-traded funds (ETFs) expecting higher returns. But I'm convinced that in 2022 or 2027, similarly-disappointing performance figures will be printed about ETF investor returns."
DOW 30 Value Screens
S&P/TSX60 Value Screens
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.
Graham Value Stocks
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.
|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...|