Cash Cows of the Dow

2017-05-24T10:22:28-07:00January 14th, 2017|

Long time readers know that I have been a shareholder yield advocate on the blog for almost a decade.  (We used to call it net payout yield back then, and we define it as the combination of dividends and net buyacks.) People are slow to change of course, but my hopes are that eventually you [...]

Dividend Stocks Are the Worst

2017-03-09T15:12:20-08:00January 9th, 2017|

We’ve written three fun articles on the topic of dividends in the past few years. I’m not sure why we haven’t seen more research here in the academic space, perhaps it is the hundreds of billions allocated to dividend strategies? What You Don’t Want To Hear About Dividend Stocks How Much Are Those Dividends Costing You? [...]

The Zero Budget Portfolio

2017-03-09T15:10:52-08:00January 3rd, 2017|

Happy 2017…You’re probably going to fail this year! Let me quickly add some context before I’m bombarded with venomous emails. According to StatisticBrain, only 8% of Americans are successful in achieving their New Year’s Resolution. That figure triples when describing people who “never succeed and fail on their resolution each year.” I would think the [...]

U-S-A, U-S-A!

2017-01-01T09:31:55-08:00December 28th, 2016|

Below is a fun little chart on investing trends. We outlined a simple valuation approach to stocks in our old book Global Value.  It simply picked a basket of the cheapest 25% of country stock markets as measured by long-term valuations, and rebalanced yearly.  Despite large historical performance, a global value approach only outperforms the [...]


2016-11-08T12:16:58-08:00November 7th, 2016|

Research Affiliates has been churning out some great content lately.  In their recent piece titled “Timing “Smart Beta” Strategies? Of Course! Buy Low, Sell High!” they examine some value based factor rotation strategies.  Namely, they examined rotating among the factors that had the worst 1,3,5,and 10 year trailing performance.  Not surprisingly it worked well. So [...]

Value and Momentum Starting to Align

2016-11-08T12:15:14-08:00November 2nd, 2016|

Long time readers know that I talk a lot about two ancient investing strategies – value and momentum/trend.  Often I will mention that my favorite setup is when the two align, although that only happens about a third of the time for any given market. (Old post here). So we’ve been preaching foreign stocks markets [...]

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