The Stingy News Weekly (03/06/2016)
| "Based on my own personal experience - both as an investor in
recent years and an expert witness in years past - rarely do more
than three or four variables really count. Everything else is
noise." | |
| - Marty Whitman | |
Stingy Links
Productivity slowdown
"In mature economies, higher productivity typically is required
for sustained increases in living standards, but the productivity
numbers in the United States have been mediocre. Labor
productivity has been growing at an average of only 1.3 percent annually
since the start of 2005, compared with 2.8 percent annually in
the preceding 10 years." [Economy]
Bizarro world of negative interest
"Negative interest is hard to even think about. Our whole
financial system is built the other way, on positive interest rates.
This is mind-boggling." [Bonds]
Munger vs. auditors
"At the annual meeting on February 10, almost five months later
than usual because resolving the disputes with the auditor led to
filing delays, Munger noted that 60,000 shares - or about 5% of
the total - had voted against retaining BDO. 'I don't know why
60,000 people are mad at BDO,' he teased, 'but it's a big firm.'
Who owns the shares voted against BDO this year and also last
year? One possibility is Munger himself. Munger controls 50,000
shares personally." [Munger]
Trump's business disaster
"Why is Donald Trump getting a pass for his disastrous and
incompetent track record of running a public company?" [Government]
DOW 30 Value Screens
| High Dividend Yield Stocks | P/E | P/B | P/S | Yield | | Chevron (CVX) | 1 | 5 | 5 | 5 |
| Verizon (VZ) | 4 | 1 | 4 | 5 |
| Caterpillar (CAT) | 3 | 4 | 5 | 5 |
| Pfizer (PFE) | 2 | 4 | 1 | 5 |
| Cisco (CSCO) | 4 | 5 | 2 | 5 |
| IBM (IBM) | 5 | 1 | 4 | 5 |
| Boeing (BA) | 3 | 1 | 5 | 4 |
| Exxon Mobil (XOM) | 2 | 5 | 4 | 4 |
| Merck (MRK) | 1 | 3 | 2 | 4 |
| Intel (INTC) | 4 | 4 | 3 | 4 |
| Notes | More Info... |
| Low Price/Earnings Stocks | P/E | P/B | P/S | Yield | | JP Morgan Chase (JPM) | 5 | 5 | 3 | 3 |
| Travelers (TRV) | 5 | 5 | 5 | 2 |
| IBM (IBM) | 5 | 1 | 4 | 5 |
| Apple (AAPL) | 5 | 2 | 3 | 2 |
| United Technologies (UTX) | 5 | 4 | 4 | 2 |
| American Express (AXP) | 4 | 4 | 4 | 1 |
| Verizon (VZ) | 4 | 1 | 4 | 5 |
| Goldman Sachs (GS) | 4 | 5 | 3 | 1 |
| Intel (INTC) | 4 | 4 | 3 | 4 |
| Cisco (CSCO) | 4 | 5 | 2 | 5 |
| Notes | More Info... |
| Value Ratio Stocks | P/E | P/B | P/S | Yield | V.R. | | Verizon (VZ) | 4 | 1 | 4 | 5 | 2.72 |
| IBM (IBM) | 5 | 1 | 4 | 5 | 2.72 |
| JP Morgan Chase (JPM) | 5 | 5 | 3 | 3 | 3.42 |
| Cisco (CSCO) | 4 | 5 | 2 | 5 | 3.42 |
| Intel (INTC) | 4 | 4 | 3 | 4 | 3.87 |
| United Technologies (UTX) | 5 | 4 | 4 | 2 | 4.26 |
| Boeing (BA) | 3 | 1 | 5 | 4 | 4.52 |
| Travelers (TRV) | 5 | 5 | 5 | 2 | 4.59 |
| Wal-Mart (WMT) | 4 | 4 | 5 | 3 | 4.89 |
| Caterpillar (CAT) | 3 | 4 | 5 | 5 | 4.92 |
| Notes | More Info... |
| US Stock Summary | Yield | P/E | V.R. | | Cisco (CSCO) | Y | Y | Y |
| IBM (IBM) | Y | Y | Y |
| Intel (INTC) | Y | Y | Y |
| Verizon (VZ) | Y | Y | Y |
| Boeing (BA) | Y | | Y |
| Caterpillar (CAT) | Y | | Y |
| JP Morgan Chase (JPM) | | Y | Y |
| Travelers (TRV) | | Y | Y |
| United Technologies (UTX) | | Y | Y |
| American Express (AXP) | | Y | |
| Apple (AAPL) | | Y | |
| Chevron (CVX) | Y | | |
| Exxon Mobil (XOM) | Y | | |
| Goldman Sachs (GS) | | Y | |
| Merck (MRK) | Y | | |
| Pfizer (PFE) | Y | | |
| Wal-Mart (WMT) | | | Y |
| Notes... |
S&P/TSX60 Value Screens
| High Dividend Yield Stocks | P/E | P/B | P/S | Yield | | Crescent Point (CPG) | 0 | 5 | 2 | 5 |
| Inter Pipeline (IPL) | 2 | 2 | 1 | 5 |
| Talisman Energy (TLM) | 0 | 0 | 0 | 5 |
| National Bank (NA) | 5 | 4 | 3 | 5 |
| Potash Corp. (POT) | 4 | 3 | 2 | 5 |
| CIBC (CM) | 5 | 3 | 3 | 5 |
| Shaw (SJR.B) | 4 | 2 | 3 | 5 |
| Bank of Nova Scotia (BNS) | 5 | 4 | 2 | 5 |
| BCE Inc. (BCE) | 3 | 1 | 2 | 5 |
| TransCanada (TRP) | 0 | 2 | 1 | 5 |
| Notes | More Info... |
| Low Price/Earnings Stocks | P/E | P/B | P/S | Yield | | Power Corp of Canada (POW) | 5 | 5 | 5 | 4 |
| Magna (MG) | 5 | 3 | 5 | 3 |
| National Bank (NA) | 5 | 4 | 3 | 5 |
| CIBC (CM) | 5 | 3 | 3 | 5 |
| Bank of Nova Scotia (BNS) | 5 | 4 | 2 | 5 |
| Royal Bank (RY) | 5 | 3 | 2 | 4 |
| Sun Life Financial (SLF) | 5 | 4 | 4 | 4 |
| Bank of Montreal (BMO) | 5 | 4 | 3 | 4 |
| TD Bank (TD) | 4 | 3 | 2 | 4 |
| Potash Corp. (POT) | 4 | 3 | 2 | 5 |
| Notes | More Info... |
| Value Ratio Stocks | P/E | P/B | P/S | Yield | V.R. | | Power Corp of Canada (POW) | 5 | 5 | 5 | 4 | 1.67 |
| National Bank (NA) | 5 | 4 | 3 | 5 | 1.76 |
| CIBC (CM) | 5 | 3 | 3 | 5 | 2.02 |
| Bank of Nova Scotia (BNS) | 5 | 4 | 2 | 5 | 2.12 |
| Potash Corp. (POT) | 4 | 3 | 2 | 5 | 2.34 |
| Royal Bank (RY) | 5 | 3 | 2 | 4 | 2.36 |
| Bank of Montreal (BMO) | 5 | 4 | 3 | 4 | 2.57 |
| Shaw (SJR.B) | 4 | 2 | 3 | 5 | 2.62 |
| Sun Life Financial (SLF) | 5 | 4 | 4 | 4 | 2.94 |
| TD Bank (TD) | 4 | 3 | 2 | 4 | 3.04 |
| Notes | More Info... |
| Canadian Stock Summary | Yield | P/E | V.R. | | Bank of Nova Scotia (BNS) | Y | Y | Y |
| CIBC (CM) | Y | Y | Y |
| National Bank (NA) | Y | Y | Y |
| Potash Corp. (POT) | Y | Y | Y |
| Bank of Montreal (BMO) | | Y | Y |
| Power Corp of Canada (POW) | | Y | Y |
| Royal Bank (RY) | | Y | Y |
| Shaw (SJR.B) | Y | | Y |
| Sun Life Financial (SLF) | | Y | Y |
| TD Bank (TD) | | Y | Y |
| BCE Inc. (BCE) | Y | | |
| Crescent Point (CPG) | Y | | |
| Inter Pipeline (IPL) | Y | | |
| Magna (MG) | | Y | |
| Talisman Energy (TLM) | Y | | |
| TransCanada (TRP) | Y | | |
| Notes... |
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