Search found 2741 matches

by NormR
15 Jan 2018 15:13
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Finding PE ratios for Canadian companies
Replies: 10
Views: 128

Re: Stock/Bond/Index/Fundamental/Asset Class/Quotes - Sources

Be aware that there are many ways of defining the earnings part of the P/E ratio. For instance, earnings over the last 12 months, estimated earnings for the next 12 months, earnings from continuing operations (over the last 12 months or next 12 months), etc.
by NormR
05 Jan 2018 16:19
Forum: Retirement, Pensions and Peace of Mind
Topic: The Plight of the Y2K Retiree
Replies: 89
Views: 8815

Re: The Plight of the Y2K Retiree

I suspect the balanced investors aren't particularly happy at this point having 'lost' ~40% of their money. Mind you some draw down has to be expected. If you're 17 1/2 years into a 30 year plan and 60% of (the real value of) what you started with is still on hand, that's not awful. What is the yea...
by NormR
04 Jan 2018 16:53
Forum: Retirement, Pensions and Peace of Mind
Topic: The Plight of the Y2K Retiree
Replies: 89
Views: 8815

Re: The Plight of the Y2K Retiree

Will they make it to 95 with money or die in poverty? The race is on :wink: I suspect the balanced investors aren't particularly happy at this point having 'lost' ~40% of their money. Mind you some draw down has to be expected. What is the yearly withdrawal rate at this point? Might someone be willi...
by NormR
04 Jan 2018 08:49
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Stock/Bond/Index/Fundamental/Asset Class/Quotes - Sources
Replies: 468
Views: 85678

Re: Stock/Bond/Index/Fundamental/Asset Class/Quotes - Sources

Thanks to Norbert, my Asset Mixer and Periodic Table have been updated to reflect nominal return data for 2017. 8)
by NormR
17 Dec 2017 21:51
Forum: Financial Planning and Building Portfolios
Topic: Investing styles
Replies: 238
Views: 19832

Re: Investing styles

Jonathan Clements makes what I think is a powerful argument for very broad indexing across the total market. I wonder if JC is a member of FWF and publishes articles from here. I think the same article was published on the clippings thread in Feb 2017 taken from a tweet from Norm. From Norms websit...
by NormR
08 Dec 2017 15:42
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: "Hot Potato" anyone??
Replies: 124
Views: 9753

Re: "Hot Potato" anyone??

FWIW, I think it's a mistake to include Canadian equities in the momentum strategy. As I mentioned before in this thread, Norm's Hot Potato strategy is a derivative of Gary Antonacci's Global Equities Momentum strategy (aka GEM). Well, to be fair, the idea came from a modification of one from one o...
by NormR
21 Nov 2017 10:02
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Dogs of the TSE
Replies: 359
Views: 52252

Re: Dogs of the TSE

Yield(ttm) = Dividends per share over last 12 months / price
by NormR
20 Nov 2017 22:35
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Dogs of the TSE
Replies: 359
Views: 52252

Re: Dogs of the TSE

Do a run with yield based on ttm dividends. Enjoy.
by NormR
02 Nov 2017 23:38
Forum: Financial News, Policy and Economics
Topic: Clippings 2017
Replies: 345
Views: 20234

Re: Clippings 2017

Take the CAPE ratio, which has been above its average over 90% of the time for the past 30 years. Is that an arithmetic average? A geometric average? It sure as hell can't be the median, or any other meaningful use of the word "average". A hyperbolic average? I got tripped up by that one recently.
by NormR
30 Oct 2017 13:30
Forum: Financial News, Policy and Economics
Topic: Momentum investing
Replies: 16
Views: 521

Re: Clippings 2017

The strategy lab trades were made in real time and over a period of 5 years (granted during a bull market). There was no opportunity to fit data to prove a theory. Momentum was the clear winner. There wasn't an explicit momentum portfolio. A growth one yes, but no momentum. IIRC, the growth portfol...
by NormR
24 Oct 2017 19:44
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Error in Globeinvestor formatting of income statements?
Replies: 2
Views: 173

Re: Error in Globeinvestor formatting of income statements?

Isn't Gross Profit Revenues minus Cost of Revenues? Correct. Am I right that it's reversed when it shouldn't be? Someone please set me straight. I would order it from top to bottom too. Doing otherwise is counter intuitive and weird, IMHO. But the G&M does it all the way down the statement. They pr...
by NormR
08 Oct 2017 23:36
Forum: Financial Planning and Building Portfolios
Topic: Derek Foster
Replies: 191
Views: 16420

Re: Derek Foster

Here's an argument that I'm not entirely unsympathetic to. The government sets up a system of taxes and benefit to guide people. Bad things get taxed - smoking, drinking, etc - while good things get subsidies - children, artists, etc. It hardly seems fair to complain when people take note and alter ...
by NormR
08 Oct 2017 16:38
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Power of Dividend Growth 2011 (and beyond)
Replies: 787
Views: 56000

Re: Power of Dividend Growth 2011 (and beyond)

BRIAN5000 wrote:
06 Oct 2017 11:49
Taggart wrote:
06 Oct 2017 10:23
NormR wrote:
05 Oct 2017 20:50
Gee tough crowd around these parts.
Do I get to criticize the other portfolios. Tit for tat, and all that. :wink:
I've always been rooting for you from far away in the background. You just don't know it.
:)
yup +1 :D but my hero used to be Robert Allen so I may not count
TY! :D
by NormR
08 Oct 2017 16:38
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Power of Dividend Growth 2011 (and beyond)
Replies: 787
Views: 56000

Re: Power of Dividend Growth 2011 (and beyond)

Taggart wrote:
06 Oct 2017 10:23
NormR wrote:
05 Oct 2017 20:50
Gee tough crowd around these parts.
Do I get to criticize the other portfolios. Tit for tat, and all that. :wink:
I've always been rooting for you from far away in the background. You just don't know it. :)
Thanks! :D
by NormR
08 Oct 2017 15:38
Forum: Financial Planning and Building Portfolios
Topic: Derek Foster
Replies: 191
Views: 16420

Re: Derek Foster

I am silly, arrogant and narcissistic for thinking my small contribution matters?! Hmm. It is the small contributions of millions of us who pay Derek Foster's child benefits that I resent, but I am happy to pay into a pension plan that supports people who themselves contributed all their lives or t...
by NormR
08 Oct 2017 13:39
Forum: Financial Planning and Building Portfolios
Topic: Derek Foster
Replies: 191
Views: 16420

Re: Derek Foster

Someone frugal enough could never work a single day in his life, living on welfare until 65, then on GIS/OAS. Retire at age 18! How about that? I know people on "disability". Your way might be paid for but it's a horrible lifestyle that leads to hopelessness. "My way"? Not at all. I was being sarca...
by NormR
07 Oct 2017 13:52
Forum: Financial Planning and Building Portfolios
Topic: Derek Foster
Replies: 191
Views: 16420

Re: Derek Foster

longinvest wrote:
07 Oct 2017 09:14
Someone frugal enough could never work a single day in his life, living on welfare until 65, then on GIS/OAS. Retire at age 18! How about that?
I know people on "disability". Your way might be paid for but it's a horrible lifestyle that leads to hopelessness.
by NormR
07 Oct 2017 13:49
Forum: Financial Planning and Building Portfolios
Topic: Derek Foster
Replies: 191
Views: 16420

Re: Derek Foster

Thanks. I didn't know TDDI carried news items from the G&M. Got all excited there for a moment realizing I could get a free read on Norman Rothery's "A value strategy seeking the most succulent returns". Unfortunately, when I clicked on it all I got was a list of stocks. The TLDR: Picking low multi...
by NormR
06 Oct 2017 13:16
Forum: Financial Planning and Building Portfolios
Topic: Investing styles
Replies: 238
Views: 19832

Re: Investing styles

By contrast, while a widely diversified portfolio may not have higher returns, I do expect it to have less volatility than a more specific style. That helps me keep my emotions under control. Seems like a big assumption that one couldn't find a lower-vol portfolio. High yield portfolios in Canada h...
by NormR
05 Oct 2017 20:50
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Power of Dividend Growth 2011 (and beyond)
Replies: 787
Views: 56000

Re: Power of Dividend Growth 2011 (and beyond)

Gee tough crowd around these parts.

Do I get to criticize the other portfolios. Tit for tat, and all that. :wink:
by NormR
19 Sep 2017 19:40
Forum: Financial Planning and Building Portfolios
Topic: Philosophy of dividend investing?
Replies: 354
Views: 16634

Re: Philosophy of dividend investing?

Think it would be better to look at a longer history, albeit 17 years covers 2 traumatic periods. I tend to agree with George that Canada's dividend payers are skewed to the financial sector, albeit I suspect Norm would argue a lot of energy/resource companies pay dividends (and included in the lis...
by NormR
19 Sep 2017 19:32
Forum: Financial Planning and Building Portfolios
Topic: Philosophy of dividend investing?
Replies: 354
Views: 16634

Re: Philosophy of dividend investing?

OTOH, I think Norm published an article recently showing that low PE was the best value factor in Canada over the past 15 years. Unfortunately, it's behind a pay wall. But ISTR reading the hard copy. https://beta.theglobeandmail.com/globe-investor/investment-ideas/strategy-lab/value-investing/value...
by NormR
19 Sep 2017 19:30
Forum: Financial Planning and Building Portfolios
Topic: Philosophy of dividend investing?
Replies: 354
Views: 16634

Re: Philosophy of dividend investing?

My first reaction is that investing in Canadian dividend-payers is a very concentrated strategy. It achieved a high rate of return over the period you cover. But I would fear that the lack of diversification might make the strategy vulnerable in downturns. Out of curiosity, how much of the out-perf...
by NormR
19 Sep 2017 15:52
Forum: Financial Planning and Building Portfolios
Topic: Philosophy of dividend investing?
Replies: 354
Views: 16634

Re: Philosophy of dividend investing?

Sticking to dividend payers on the TSX has been a good idea over the 17 years through to the end of 2016. Total return CAGRs shown, annual rebalancing, equal-weight portfolios, selected from the top 300 stocks by market cap Portfolio of dividend payers: 12.1% Non-dividend payers: 4.1% By way of comp...
by NormR
17 Jul 2017 16:08
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: HBF (Brand Leaders Plus Income ETF)
Replies: 3
Views: 398

Re: HBF (Brand Leaders Plus Income ETF)

fireseeker wrote:
17 Jul 2017 16:03
HBF MER: 1.58
LOL. I had to check that fee to makes sure it was true. That's insanely high for an ETF.