Most Recent Stingy News
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| The rise of ETF slop |
| 01/11/26 12:48 PM EST | Funds |
| "Many of the ETFs being launched today have been engineered to attract assets rather than improve outcomes for investors. I think what we are seeing is best described as ETF slop." [video] |
| More Funds: Not wrong on covered calls |
| Covered calls and cash flow |
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| Fourth quarter effect in small caps |
| 01/11/26 11:43 PM EST | Markets |
| "The authors document that analyst earnings estimates do not adjust for this fourth-quarter effect, indicating that they are not aware that it exists. As a result, an unusually high share of companies misses analyst expectations in the fourth quarter compared to other quarters. Luckily, though, these missed expectations don't seem to matter as much as they did during other quarters." |
| More Markets: The market isn't 'giving Enron vibes' |
| So you think there's a bubble |
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| Advancements in self-driving cars |
| 01/11/26 11:09 AM EST | Tech |
| "Even if the rest of AI doesn't prove that disruptive soon, self-driving will change quite a lot wherever it is allowed to proceed. I too am unreasonably excited." |
| More Tech: AI addendum |
| Good nuke news |
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| Last advice from Jonathan Clements |
| 01/10/26 7:24 PM EST | Retirement |
| "Parting advice from cherished personal finance columnist Jonathan Clements. The final actions he took battling terminal cancer." [video] |
| More Retirement: 5% rule is the new 4% rule |
| Wisdom from Jonathan Clements |
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| Asset Mixer Update |
| 01/10/26 7:22 PM EST | Stingy Investing |
| We've updated our Asset Mixer to include nominal return data for 2025. |
| More Stingy Investing: Periodic Table Update |
| The Globe 250 for 2025 |
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| Periodic Table Update |
| 01/10/26 7:21 PM EST | Stingy Investing |
| We've updated our periodic table of annual returns for Canadians to include nominal return data for 2025. |
| More Stingy Investing: The Globe 250 for 2025 |
| The Megastars for 2025 |
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| The Globe 250 for 2025 |
| 01/01/26 12:54 PM EST | Stingy Investing |
| "The Megastar portfolio jumped 39.4 per cent from Dec. 11, 2024, to Dec. 10, 2025, and beat the Canadian stock market (as represented by the S&P/TSX Composite Index), which climbed 26.1 per cent over the same period. The jolly returns added to those from prior years, with the Megastar portfolio climbing at an average annual rate of 33.3 per cent from Dec. 1, 2022, to Dec. 10, 2025, while the market advanced at an annual rate of 18.9 per cent over the same period." |
| More Stingy Investing: The Megastars for 2025 |
| The Globe's guide to the top 250 stocks |
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| The Megastars for 2025 |
| 01/01/26 12:52 PM EST | Stingy Investing |
| "Our new Megastar ranking of Canada's largest publicly traded companies evaluates each major stock on the Toronto Stock Exchange and awards two star ratings - one for the stock's appeal to value investors and the other for its allure to momentum investors. We then focused on the 20 stocks with the best blend of value and momentum characteristics, which form our Megastar team." |
| More Stingy Investing: The Globe's guide to the top 250 stocks |
| The Megastars of 2025 |
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| The Globe's guide to the top 250 stocks |
| 12/19/25 11:27 AM EST | Stingy Investing |
| "The Megastar portfolio jumped 39.4 per cent from Dec. 11, 2024, to Dec. 10, 2025, and beat the Canadian stock market (as represented by the S&P/TSX Composite Index), which climbed 26.1 per cent over the same period. The jolly returns added to those from prior years, with the Megastar portfolio climbing at an average annual rate of 33.3 per cent from Dec. 1, 2022, to Dec. 10, 2025, while the market advanced at an annual rate of 18.9 per cent over the same period." [$] |
| More Stingy Investing: The Megastars of 2025 |
| The Globe's Dividend All-Stars 2025 |
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| The Megastars of 2025 |
| 12/19/25 11:22 AM EST | Stingy Investing |
| "Our new Megastar ranking of Canada's largest publicly traded companies evaluates each major stock on the Toronto Stock Exchange and awards two star ratings - one for the stock's appeal to value investors and the other for its allure to momentum investors. We then focused on the 20 stocks with the best blend of value and momentum characteristics, which form our Megastar team." [$] |
| More Stingy Investing: The Globe's Dividend All-Stars 2025 |
| The TSX's gains over almost 69 years |
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| The market isn't 'giving Enron vibes' |
| 12/17/25 6:24 PM EST | Markets |
| "Today's large firms bear little resemblance to Enron or any of the other financial monstrosities of the tech-stock bubble. Enron sold equity to gullible investors, issuing more and more shares prior to its collapse. Enron was not alone; during the tech-stock bubble, corporations collectively issued massive amounts of new shares. In contrast, today, U.S. corporations are collectively repurchasing equity. The stock market of 2025 does not look like the stock market of 2000." |
| More Markets: So you think there's a bubble |
| Milkmaids and philosophers |
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| So you think there's a bubble |
| 12/17/25 6:24 PM EST | Markets |
| "What should you do if you think that the U.S. stock market is in a bubble?" |
| More Markets: Milkmaids and philosophers |
| We're not in an AI bubble |
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| Milkmaids and philosophers |
| 12/17/25 6:24 PM EST | Markets |
| "According to legend, in 1929 Joseph P. Kennedy realized that it was time to sell when he received a stock tip from a shoeshine boy. Okay, when shoeshine boys are playing the market, you sell. But what if you can't find a shoeshine boy? Who else might serve as a useful contrarian indicator?" |
| More Markets: We're not in an AI bubble |
| How the AI bubble pops |
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| Writing it off |
| 12/17/25 6:22 PM EST | Management |
| "In recent years, the gap between actual and adjusted earnings has been widening. In fact, without these adjustments, companies in the Russell 2000 wouldn't be profitable in aggregate. It's worth asking: would investment strategists still recommend rotating into small-cap stocks if their decisions were based on actual earnings?" |
| More Management: General theory of enshittification |
| The acquirer |
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| The price of borrow |
| 12/17/25 6:20 PM EST | Brokers |
| "if we exclude borrow rates below 1% (which generally indicate it is freely available to borrow), IBKR is cheaper than the industry rate about 72% of the time. This suggests IBKR's pricing is at least competitive with, and often slightly better than, big-bank prime brokers. Which means IBKR is offering institutional-grade borrow pricing to even very small funds - something that would have been unthinkable twenty years ago." |
| More Brokers: Not taking enough risk |
| And it's gone |
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| The all hat, no cattle economy |
| 12/17/25 5:42 PM EST | World |
| "Politics aside, it's important to understand that the bleak economic news we're getting is only the beginning. 'Populist' leaders ... do long-term economic damage. One comprehensive comparative study found that, on average, such leaders leave GDP 10 percent lower after 15 years than it would otherwise have been." |
| More World: Currency valuations |
| Making China great |
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| We're not in an AI bubble |
| 11/30/25 2:40 PM EST | Markets |
| "We currently see many signs of speculative excess in the U.S. stock market. But for me, issuance is the most reliable bubble indicator because it's easy to measure, has a strong theoretical foundation, and an impressive historical track record. Thus, I doubt that the U.S. stock market is in a bubble as of November 2025. " |
| More Markets: How the AI bubble pops |
| Firms are the smart money |
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| How the AI bubble pops |
| 11/30/25 1:48 PM EST | Markets |
| "In short, the tech company gets its data center without the debt and investors get a highly productive asset. What's not to like?" |
| More Markets: Firms are the smart money |
| Tells from the crypto crash |
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| Retired investors are traders |
| 11/30/25 1:05 PM EST | Behaviour |
| "Our results indicate that investors significantly increase their trading frequency and hold more stocks in their portfolios after retirement. However, this heightened activity leads to lower risk-adjusted returns of their portfolios." |
| More Behaviour: Dumb money triumphant |
| Little Rules About Big Things |
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| Firms are the smart money |
| 11/24/25 12:09 PM EST | Markets |
| "Yet, while not infallible, corporate issuance turns out to be one of the most powerful signals we have for predicting long-term returns. Firms are the smart money, and it pays to imitate them. Thus, when firms are buying their own stock, you should generally buy as well. When firms are selling, you should generally sell as well." |
| More Markets: Tells from the crypto crash |
| Lie to me |
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| Growth indices miss the mark |
| 11/24/25 11:46 AM EST | Growth Investing |
| "Portfolios composed of fast-growing firms significantly outperformed the market over the full period, irrespective of valuation. In contrast, slow growth and expensive firms (the segment most vulnerable to misclassification as growth) underperformed by a wide margin. Thus, growth stock selection should be based on actual business fundamentals rather than market pricing. Metrics such as growth in sales, profits, and research and development spending provide more reliable indicators of true growth potential than price-based measures." |
| More Growth Investing: Growth vs Glamour |
| Interest rates and growth stocks |
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