Most Recent Stingy News
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| The Globe's Dividend All-Stars |
| 02/21/26 7:44 PM EST | Stingy Investing |
| "Investing in Canadian dividend stocks has been a great way to build wealth and the Globe's Dividend All-Stars provides a guide to the largest 200 on the Toronto Stock Exchange. It includes a plethora of data on each stock along with a star rating. The top 20 get a full five out of five stars and a spot in the Dividend All-Stars portfolio. We're pleased to say the portfolio handily beat the market since its last update with gains of 41.4 per cent" [$] |
| More Stingy Investing: Asset Mixer Update |
| Periodic Table Update |
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| Talking about bubbles |
| 02/21/26 7:38 PM EST | Markets |
| "Centuries of financial history show that the opposite is true: When everybody's asking about a bubble, that's a strong sign that a bubble is indeed occurring. Bubbles are not a secret to the people experiencing them." |
| More Markets: AI and the stock market |
| Fear of missing out on global catastrophe |
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| AI and the stock market |
| 02/21/26 7:24 PM EST | Markets |
| "I've previously argued that the stock market is not in an AI bubble. But that doesn't mean that everything is sunshine and rainbows. I view today's stock market as having both unusually large upside and unusually large downside. In this piece, I want to sketch out the worst-case scenario for global equities." |
| More Markets: Fear of missing out on global catastrophe |
| Weaponized risk models |
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| Fear of missing out on global catastrophe |
| 02/21/26 7:21 PM EST | Markets |
| "In recent months, gold and silver have exhibited incredible price volatility. Why? Because they've transformed from boring commodities traded by professionals into exciting gambling instruments traded by retail investors. Forget meme stocks, we've entered the age of meme metals." |
| More Markets: Weaponized risk models |
| Trillionaire |
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| Weaponized risk models |
| 02/21/26 7:17 PM EST | Markets |
| "For most investors, risk management conjures images of risk-averse, neurotic bureaucrats. But that image is out of date. Today, risk models have become the key weapon in the arsenal of the apex predators of the hedge fund world. For pod shops and quant funds, they are the central nexus through which capital allocation is coordinated across strategies, assets, and asset classes." |
| More Markets: Trillionaire |
| Robinhood and other circularities |
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| The inverted yield curve |
| 02/02/26 2:31 PM EST | Bonds |
| "So what the dog's silence is telling us is that the world has changed. Anchoring has created space for the Fed to avoid using unemployment to contain inflation. Of course, the real world is not the same as a macroeconomic model, which is just a tool to help clarify our thoughts and understand the logic of the system. The Fed probably did not plan on a painless response to the Covid inflation spike, and in fact from their projections it is clear that they did expect their interest rate hikes to raise the unemployment rate along Taylor Rule lines. Fortunately for millions of working people, they miscalculated." |
| More Bonds: Narrow spreads |
| F.A.C.O. |
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| International financial anarchy |
| 02/02/26 2:23 PM EST | World |
| "Goldbugs are thus right about gold's durable safe-haven status, but they're not right that this is a good thing. Gold isn't a superior system - it's a desperate fallback for a world in which the people who were in charge of the superior system abdicated their duties." |
| More World: The all hat, no cattle economy |
| Currency valuations |
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| Value is simply dormant |
| 02/02/26 2:22 PM EST | Value Investing |
| "Value investing is dead. Value investing remains dead. And we have killed it. After years in what can be now called one of the worst (if not the worst) period for value investing, many investors have packed their bags and called it quits. Their claim? This time is different." |
| More Value Investing: Focus on trailing P/Es |
| How flows change factor performance |
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| Trillionaire |
| 02/02/26 2:18 PM EST | Markets |
| "Thus, whoever becomes history's first trillionaire has two very different Johns to follow as role models: the flamboyant John Law or the methodical John D. Rockefeller. Follow Law, and you'll have some thrills, but you'll die penniless at age 57 in a foreign land. Follow Rockefeller, and you'll have celery instead of thrills, but you'll die a respected philanthropist at age 97, your name living on in history (for example in 30 Rock)." |
| More Markets: Robinhood and other circularities |
| The Case for Getting Bored |
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| Robinhood and other circularities |
| 02/02/26 2:16 PM EST | Markets |
| "How can we explain the phenomenon that customers of broker XYZ buy XYZ shares? One explanation is familiarity bias. A large academic literature shows that investors tend to buy what they know" |
| More Markets: The Case for Getting Bored |
| Stocks, bubbles, and market myths |
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| The Case for Getting Bored |
| 02/02/26 2:14 PM EST | Markets |
| "High-beta stocks tend to capture the imagination on the way up, but they have captured significantly more of the pain on the way down. By losing less during market corrections, lower volatility stocks often don't need to work as hard to get back to even. You capture a material portion of the upside with less of the pain." |
| More Markets: Stocks, bubbles, and market myths |
| Gold isn't special |
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| Things I'm pretty sure about |
| 01/19/26 4:24 PM EST | Behaviour |
| "Most harm done to others is unintentional. I think the vast majority of people are good and well-meaning, but in a competitive and stressful world it's easy to ignore how your actions affect others." |
| More Behaviour: The tyranny of the complainers |
| It really is a bad idea |
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| Stocks, bubbles, and market myths |
| 01/19/26 3:56 PM EST | Markets |
| "Bubbles are typically driven by excessive leveraging, but current debt growth remains a fraction of what was seen in the 1995â€"2000 era. Debt was essentially flat for five years, with only a 9% increase in 2025." |
| More Markets: Gold isn't special |
| Fourth quarter effect in small caps |
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| Gold isn't special |
| 01/19/26 3:49 PM EST | Markets |
| "A final reason that gold has been rising is because it's been rising. There is a momentum factor, in other words. As investors watched gold climb the leaderboard last year, those gains attracted other investors, which created further upward pressure on prices." |
| More Markets: Fourth quarter effect in small caps |
| The market isn't 'giving Enron vibes' |
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| Doody calls central banking |
| 01/19/26 3:44 PM EST | Government |
| "We won't remember Powell as an effective protector of our purchasing power. Instead, we'll remember him as the chairman who kept the Everything Bubble inflated - aggressively expanding the Fed's balance sheet, driving record-high asset prices, fueling wealth inequality, creating an affordability crisis, and leaving a government increasingly dependent on the Fed to finance its debt. By constantly pivoting and cleaning up, we believe Powell has left his successor with a monumental mess." |
| More Government: Goodbye, reliable economic data |
| Writing through policy depression |
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| The tyranny of the complainers |
| 01/19/26 3:41 PM EST | Behaviour |
| "it's clear that a single individual often accounts for 10-30% of all complaints! These complaints have to be investigated so this single individual may be costing taxpayers millions. It's as if a single individual were pulling a fire alarm thousands of times a year, mobilizing emergency services on demand, and never facing repercussions. Does this strategy work? Probably." |
| More Behaviour: It really is a bad idea |
| Retired investors are traders |
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| It really is a bad idea |
| 01/19/26 3:39 PM EST | Behaviour |
| "There are all kinds of rules against dating at the workplace, and in general, it is good advice not to date at the workplace because these relationships rarely end well and can cause all kinds of harm to the people caught in them. Luckily, I tend to wave at good advice while I let it pass me because if I had heeded it, I wouldn't be married to the fantastic lady that I have been with for the last two decades." |
| More Behaviour: Retired investors are traders |
| Dumb money triumphant |
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| Asset Mixer Update |
| 01/19/26 2:33 PM EST | Stingy Investing |
| We've updated our Asset Mixer to include real return data for 2025. |
| More Stingy Investing: Periodic Table Update |
| Asset Mixer Update |
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| Periodic Table Update |
| 01/19/26 2:32 PM EST | Stingy Investing |
| We've updated our periodic table of annual returns for Canadians to include real return data for 2025. |
| More Stingy Investing: Asset Mixer Update |
| Periodic Table Update |
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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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