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The Stingy News Weekly: 06/26/2022
Stingy Links
Understand rebalancing
"Wise then went on to derive an interesting formula for the
probability that buy-and-hold will beat rebalancing in the very long
run - that is, as time goes to infinity. The result is that if
the average difference between constituent portfolio assets'
expected returns is small, less than about one percent, then
rebalancing will, in the very long run - that is, at eternity - surely
beat buy-and-hold; but if the average difference is greater than
that, buy-and-hold will surely beat rebalancing." [Markets]
Think outside the portfolio
"Following a year of high inflation, U.S. bonds significantly
underperformed over the next three years when compared to their
median performance in all other three year periods" [Behaviour]
Money makes you happy
"They say money can't buy you happiness and there is evidence
that once income reaches a certain level people really aren't
getting much happier with more income. But what about assets? Studies
in the past focused on income rather than wealth but now a
study among Germans looked at the interactions between income and
wealth." [Thrift]
Bull market grift
"Stock markets have a long history of fraud and grift during bull
markets. Grifters find it easier to entice would-be 'suckers'
when everyone seems to be making a fortune but them. One such
example took place at the start of the 1900s that has played out in
some form or another in every bull market since." [Crime]
Larry Summers: recession soon
"There is no historical precedents for inflation at the rate we
now have to come down to the target the Fed has set of 2% without
a recession." [video] [Economy]
S&P/TSX60 Value Screens
| High Dividend Yield Stocks | P/E | P/B | Yield | | Enbridge (ENB) | C | C | A |
| Manulife Financial (MFC) | A | A | A |
| Power (POW) | A | A | A |
| BCE (BCE) | D | D | A |
| Pembina Pipeline (PPL) | D | C | A |
| Brookfield Infra (BIP.UN) | C | C | A |
| Bank of Nova Scotia (BNS) | A | A | A |
| TC Energy (TRP) | E | C | A |
| CIBC (CM) | A | A | A |
| Algonquin Power (AQN) | E | B | A |
| Notes | More Info... |
| Low Price/Earnings Stocks | P/E | P/B | Yield | | Canadian Apt REIT (CAR.UN) | A | A | B |
| SNC-Lavalin (SNC) | A | A | E |
| Manulife Financial (MFC) | A | A | A |
| Bank of Montreal (BMO) | A | A | B |
| Teck Resources (TECK.B) | A | A | D |
| Power (POW) | A | A | A |
| National Bank (NA) | A | B | B |
| Sun Life (SLF) | A | A | B |
| CIBC (CM) | A | A | A |
| Canadian Tire (CTC.A) | A | C | C |
| Notes | More Info... |
| Low Price/Book Value Stocks | P/E | P/B | Yield | | Canadian Apt REIT (CAR.UN) | A | A | B |
| Kinross Gold (K) | D | A | C |
| Manulife Financial (MFC) | A | A | A |
| Teck Resources (TECK.B) | A | A | D |
| Power (POW) | A | A | A |
| CIBC (CM) | A | A | A |
| Sun Life (SLF) | A | A | B |
| SNC-Lavalin (SNC) | A | A | E |
| Bank of Montreal (BMO) | A | A | B |
| Bank of Nova Scotia (BNS) | A | A | A |
| Notes | More Info... |
| Canadian Stock Summary | P/E | P/B | Yield | | CIBC (CM) | Y | Y | Y |
| Manulife Financial (MFC) | Y | Y | Y |
| Power (POW) | Y | Y | Y |
| Bank of Montreal (BMO) | Y | Y | |
| Bank of Nova Scotia (BNS) | | Y | Y |
| Canadian Apt REIT (CAR.UN) | Y | Y | |
| SNC-Lavalin (SNC) | Y | Y | |
| Sun Life (SLF) | Y | Y | |
| Teck Resources (TECK.B) | Y | Y | |
| Algonquin Power (AQN) | | | Y |
| BCE (BCE) | | | Y |
| Brookfield Infra (BIP.UN) | | | Y |
| Canadian Tire (CTC.A) | Y | | |
| Enbridge (ENB) | | | Y |
| Kinross Gold (K) | | Y | |
| National Bank (NA) | Y | | |
| Pembina Pipeline (PPL) | | | Y |
| TC Energy (TRP) | | | Y |
| Notes... |
DOW 30 Value Screens
| High Dividend Yield Stocks | P/E | P/B | Yield | | Verizon (VZ) | B | B | A |
| Dow (DOW) | A | B | A |
| IBM (IBM) | C | D | A |
| Walgreens (WBA) | A | A | A |
| 3M (MMM) | B | C | A |
| Chevron (CVX) | B | B | B |
| Intel (INTC) | A | A | B |
| JPMorgan Chase (JPM) | A | A | B |
| Cisco Systems (CSCO) | B | C | B |
| Amgen (AMGN) | D | E | B |
| Notes | More Info... |
| Low Price/Earnings Stocks | P/E | P/B | Yield | | Dow (DOW) | A | B | A |
| Goldman (GS) | A | A | C |
| Walgreens (WBA) | A | A | A |
| Intel (INTC) | A | A | B |
| JPMorgan Chase (JPM) | A | A | B |
| Verizon (VZ) | B | B | A |
| Travelers (TRV) | B | A | D |
| Chevron (CVX) | B | B | B |
| 3M (MMM) | B | C | A |
| American Express (AXP) | B | C | E |
| Notes | More Info... |
| Low Price/Book Value Stocks | P/E | P/B | Yield | | Goldman (GS) | A | A | C |
| Walgreens (WBA) | A | A | A |
| JPMorgan Chase (JPM) | A | A | B |
| Intel (INTC) | A | A | B |
| Travelers (TRV) | B | A | D |
| Walt Disney (DIS) | E | B | F |
| Chevron (CVX) | B | B | B |
| Dow (DOW) | A | B | A |
| Verizon (VZ) | B | B | A |
| salesforce.com (CRM) | E | B | F |
| Notes | More Info... |
| US Stock Summary | P/E | P/B | Yield | | Chevron (CVX) | Y | Y | Y |
| Dow (DOW) | Y | Y | Y |
| Intel (INTC) | Y | Y | Y |
| JPMorgan Chase (JPM) | Y | Y | Y |
| Verizon (VZ) | Y | Y | Y |
| Walgreens (WBA) | Y | Y | Y |
| 3M (MMM) | Y | | Y |
| Goldman (GS) | Y | Y | |
| Travelers (TRV) | Y | Y | |
| American Express (AXP) | Y | | |
| Amgen (AMGN) | | | Y |
| Cisco Systems (CSCO) | | | Y |
| IBM (IBM) | | | Y |
| Walt Disney (DIS) | | Y | |
| salesforce.com (CRM) | | Y | |
| Notes... |
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and in its related newsletters, is not intended to be, nor does it
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