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  • The Great Beta Hoax: Not An Accurate Measure Of Risk, After All [View article]
    ws:

    If you're talking to me, I don't get the reference.

    Mike
    May 22, 2015. 11:03 PM | 2 Likes Like |Link to Comment
  • Lessons Learned From The Grand Canyon [View article]
    giorgio:

    You beat me to this question.

    WSD hasn't answered it.

    He's very good at telling Dave what he should have bought instead of the five stocks that helped make Dave a multimillionaire, but WSD isn't saying what he bought to make himself a multibillionaire.

    Mike
    May 22, 2015. 09:15 PM | 5 Likes Like |Link to Comment
  • Dividend Growth Investing Requires Perseverance [View article]
    Pend:

    Economists say it will happen September at the soonest, and other pundits and prognosticators are pointing at December.

    Mike
    May 22, 2015. 09:06 PM | 1 Like Like |Link to Comment
  • Warning: Don't Let Market Hype Cause You To Miss This Total Return Opportunity [View article]
    Dave:

    It would have taken more than a cute girl dancing around me to make me look cool in those yellow pants and that Jew-fro!

    Mike
    May 22, 2015. 08:59 PM | 1 Like Like |Link to Comment
  • Lessons Learned From The Grand Canyon [View article]
    Scott:

    I need to get back to Vancouver. I've spent time there, but not nearly enough as a vacationer. Maybe next time we visit Katie.

    My favorite spot on the islands actually is a rock formation on Kauai referred to as "Queen's Bath." It is up north, near Princeville. It is just a rock formation jutting into the ocean that creates kind of a small pool. Huge waves crash all around it, but inside the "bath," the water is relatively calm. One can see the bottom from 20 feet. You can jump/dive in from the rocks above, which is cool. And it's not an easy walk to get there, so it keeps the tourists to a minimum.

    It's not as spectacular as Waimea Canyon, but it is a personal fave that has created lasting memories.

    I have told my wife and kids that after I die, they can have me cremated and can let my ashes go over Queen's Bath. They're game -- after all, it means a free trip to Hawaii for them!

    Mike
    May 22, 2015. 04:32 PM | 1 Like Like |Link to Comment
  • Warning: Don't Let Market Hype Cause You To Miss This Total Return Opportunity [View article]
    Man, Dave, I used to own some really incredible clothes.

    "Incredible" = wild and ugly.

    I remember I had one outfit with a multi-colored, big-collared shirt that featured mostly yellow and orange, and I'd wear it with yellow pants. Oh my God.

    I was only a teenager during the '70s, but I really "celebrated" the worst of the era. I even kind of liked disco ... though I never admitted it at the time.

    Mike
    May 22, 2015. 04:16 PM | Likes Like |Link to Comment
  • Lessons Learned From The Grand Canyon [View article]
    Dave:

    When one is about to embark on a trip, one usually goes in with preconceived notions. Based upon what one has read or heard or researched, one believes such-and-such place will be nice/horrible for reasons A, B and C.

    Sometimes one is right. Often, one is wrong and the surprise will be either bad or pleasant.

    The Grand Canyon was one of the few places that actually exceeded my very lofty expectations. I thought it was going to be spectacular ... and it was even better.

    Other places that elicited similar reactions: Augusta National (site of the Masters); Waimea Canyon (Kauai); Lillehammer (Norway); PNC Park (Pirates' home park); Chicago skyline from Adler Planetarium vantage point; Sedona.

    I'd love to hike down the Canyon, camp there for a couple of nights and then hike back up ... or at least that's what I say. I probably could do the hike down but I'm not much of a camper any more. And I'd need a helicopter to lift me out of there!

    Whatever ... it's an amazing sight to see. If anybody hasn't been to the Grand Canyon, it really is a national treasure not to be missed.

    Mike
    May 22, 2015. 04:00 PM | 4 Likes Like |Link to Comment
  • Lessons Learned From The Grand Canyon [View article]
    622:

    <<So perhaps that should be the criteria, to avoid stocks of the most popular brands, ie. JNJ, KO, IBM, PG, etc. When stocks are in greater demand than their financial performance should warrant, then perhaps they should be avoided. ... One can find faster growing stocks at lower multiples than those.>>

    Yes, it would have been horrible to have invested in those popular brands 20 years ago. One would have to figure out how to pay one's taxes on the millions upon millions of dollars one would have made.

    What is your point? That they are overvalued now and therefore shouldn't be bought now? OK ... so don't buy them now!

    To suggest that they should have been avoided years ago so one could have bought GILD instead ... well yeah, if one had the best fortune teller available. Otherwise, one would have had to make do with huge profits from owning those 5 popular brands.

    Mike
    May 22, 2015. 03:45 PM | 6 Likes Like |Link to Comment
  • Dividends At A Reasonable Price: BCE [View article]
    fcb:

    <<Actually, my comment was not towards you but if anything, it would have been more towards the type of comments from Miike Nadel buying in and out a half dozen time.>>

    What?

    In my earlier comment, here's what I said:

    "I have almost sold my BCE about a half-dozen times but I have decided to let my medium-size position be, collect divvies and live happily ever after."

    I guess you missed the word "almost," as well as the context of the entire statement. Oh well. It happens.

    I am not a trader. There is not a single position I have bought and sold 3 times, let alone six.

    Mike (long BCE)
    May 22, 2015. 03:23 PM | 3 Likes Like |Link to Comment
  • Why Lockheed Martin Perpetually Beats The Market [View article]
    Congress keeps ordering equipment that the Pentagon doesn't even want.

    The most recent budget offered by the House cuts most things ... but raises defense spending.

    It's like a narcotic.

    I'm long LMT and wish I had more.

    Mike
    May 22, 2015. 03:18 PM | 1 Like Like |Link to Comment
  • These 32 Dividend Champions Are Fairly Valued [View article]
    Hi Dave.

    Love the article and the easy-to-follow method of presentation. I especially love it when one of the people I respect most do a big chunk of my homework for me!!

    A comment or two on the undervalued ...

    AFL has been classified as undervalued by numerous analysts ever since I started following DGI nearly 4 years ago. Not sure exactly what that says about the company. Also, it's divvy growth has slowed considerably the last few years. Sold my stake at 63 nearly 2 years ago ... and AFL is still priced around 63. Haven't regretted my sell decision one iota; its replacements have done significantly better both in income generated and total return.

    XOM's valuation is tricky because when next year's P/E kicks in, it figures to show up as overvalued, perhaps even very overvalued. I can't decide if I want to top off my position or not.

    BEN's yield is too low for me; you mentioned this in your article as a possible sticking point. Obviously a fine company, though.

    HCP is having some internal issues right now and I highly recommend that potential investors look up articles on the company before investing. I'm not saying don't buy HCP. I'm saying each of us is responsible for doing his/her own due diligence.

    WMT is interesting. I actually sold off my stake in February (at $84 and change) after its second consecutive pitiful dividend hike and indications that this very well might be the new normal. It's hard for me to justify owning a company with a 2.5% yield and 2.1% dividend growth. Nevertheless, I do know WMT is a very good company and tends to serve as kind of "insurance" during corrections. I'm thinking that if it continues to decline to the point that the first number is a 6, it will be hard to resist buying some back.

    All of the above just my opinion, FWIW.

    Mike
    May 22, 2015. 10:48 AM | 5 Likes Like |Link to Comment
  • These 32 Dividend Champions Are Fairly Valued [View article]
    Doggone EMR.

    I picked up a half-stake at 57 a couple months ago but I got greedy and wanted an even better "deal" for my other half ... and now look at it!

    Oh well, it's a cyclical, so maybe I'll get another chance in the not-too-distant future.

    Mike
    May 22, 2015. 10:36 AM | Likes Like |Link to Comment
  • The Great Beta Hoax: Not An Accurate Measure Of Risk, After All [View article]
    I totally ignore beta as a metric. I never check out beta before buying and I don't pay any attention to the beta of my holdings.

    When I mentioned this in a comment awhile back, a fellow commenter looked up my portfolio (which is in my Profile and also has been mentioned in several articles) and told me how low the beta is for most of my holdings.

    Like Buffett, I don't pay attention to beta but I own low-beta investments. That's because we both seek high-quality, proven, blue-chip companies, most of which have long histories of dividend growth. I have lots of consumer staples, utilities, etc.

    It was good to read an article that confirmed my belief that beta is the last thing I need to worry about. It's one of those things that tend to take care of itself.

    Mike
    May 22, 2015. 10:11 AM | 17 Likes Like |Link to Comment
  • Warning: Don't Let Market Hype Cause You To Miss This Total Return Opportunity [View article]
    I like how you think, Dave.

    I had quite a head of hair myself in 1974!!

    Mike
    May 22, 2015. 10:03 AM | Likes Like |Link to Comment
  • Lessons Learned From The Grand Canyon [View article]
    622:

    Sure, one can always pick a company, pick a date, and find an outperformer. I mean, AAPL the last 10 years beats GILD by 10%+. So what?

    Dave's point was that investing in a basket of high-quality, proven, dividend-growing companies has been a winning strategy over time and figures to be a winning strategy for the future.

    I had never heard of GILD 15 or 20 years ago. The beautiful thing is that one didn't have to look for a high-flying biotech or a speculative tech stock to easily beat the market. One only had to look as far as one's grocery shelves for the most common names of the day.

    And yes, I'm long GILD and bullish on its prospects. It's simply not what the article is about.

    Mike
    May 22, 2015. 10:02 AM | 18 Likes Like |Link to Comment
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