The Stingy News Weekly (11/05/2018)
New from StingyInvestor
Canada's top dividend stocks 2019
"The Dividend All-Stars have outperformed the market since we started way back in 2007. If you purchased an equal-dollar amount of each A-graded Dividend All-Star and rolled the proceeds into the new ones each year, you'd have gained a total of 207%, including dividends, since 2007."
"the average price paid of $312,807/A and $207.09/B is pretty typical for that range of dates." [Buffett]
Robert Cialdini interview
"This week, we speak with Social Psychologist Robert Cialdini, Professor Emeritus of Psychology and Marketing at Arizona State University. He is the author of the book Influence: The Psychology of Persuasion which has sold 3 million copies in 30 languages. His new book is is Pre-Suasion: A Revolutionary Way to Influence and Persuade." [audio] [Behaviour]
Bundled investment sales
"If most financial services are sold rather than bought, regardless of their intricacy, then why are variable-annuity presentations accompanied by filet mignon, while index-fund discussions are not?" [Indexing]
Has Buffett lost it?
"The bull and bear argument has been the same for years, so I don't want to get into it again here, but I feel like AAPL has sort of been chasing the crowd lately rather than leading it or disrupting it like they used to during the Jobs years. But again, this would get the AAPL fans all fired up and angry, so maybe I'll leave it at that. I'll just say that moving up to higher end products to make up for declining growth momentum reminds me of retailers/restaurants that hid declining traffic/unit volumes by moving up-market or raising prices. It works for a while until people finally say, no mas, and will no longer pay high prices. Sort of reminds me of J. Crew, P&G etc." [Buffett]
Alpha within factors
"it's possible to generate alpha within the value factor by shifting its allocation in the direction of stocks with better future earnings outcomes. We used additional factors that are correlated with those outcomes--specifically: momentum, trailing growth, accruals and leverage--to filter out value traps and identify the strongest companies out of what remains." [Value Investing]
Cliff Asness vs. Warren Buffett
"An interview with billionaire quantitative investor and co-founder of AQR Capital Management, Cliff Asness. In this interview, Cliff discusses learning about and his views on free markets and quantitative investing. Cliff also talks about fighting Warren Buffett on Twitter and critiquing Obama." [video] [Asness]
"This suggest that if there are excess returns anywhere in the market, those returns are in precisely the stocks that are on the verge of being inaccessible to most fund managers (and ETF products) seeking to run higher amounts of assets under management." [Value Investing]
S&P/TSX60 Value Screens
DOW 30 Value Screens
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