In addition, Pat thinks then beginner investors should cultivate two important qualities: a healthy sense of skepticism and patience.
Investors should approach all investments with a healthy sense of skepticism. This can help keep you out of fraudulent stocks that masquerade as high-quality stocks. It will also keep you out of legally operated, but poorly managed, companies that promise more than they can possibly deliver.
If you are a new investor, you should also realize that losing patience can cause you to sell your best choices right before a big rise. All too often, investors buy a promising stock just as it enters a period of price stagnation. Even the best-performing stocks run into these unpredictable phases from time to time. They move mainly sideways in a wide range for months or years before their next big rise begins. (Stock brokers often refer to these stocks as “dead money.”)
If you lack patience, you run a big risk of selling your best choices in the midst of one of these phases, prior to the next big move upward. If you lose patience and sell, you are particularly likely to do so in the low end of the trading range, when stock prices have weakened and confidence in the stock has waned.
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The fund’s top holdings are S.A.C.I. Falabella (retail), 9.6%; Enersis SA (electricity), 9.2%; Empresas Copec SA (conglomerate), 7.9%; Empresa Nacional de Electricidad (electricity), 6.7%; LATAM Airlines, 5.5%; Cencosud SA (retailer), 4.9%; Empresas CMPC (pulp and paper), 4.8%; Banco de Chile, 4.6%; Banco Santander Chile (banking), 4.5%; and Quimica y Minera de Chile (mining), 4.1%.
The fund’s industry breakdown is: Utilities, 25.1%; Financials, 17.8%; Consumer Discretionary, 13.2%; Materials, 12.9%; Consumer Staples, 10.0%; Industrials, 8.1%; Energy, 7.8%; Telecommunications, 2.4%; and Information Technology, 1.9%.
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The ETF’s top holdings are Bayer (diversified chemicals), 9.3%; Siemens (engineering conglomerate), 8.4%; BASF (chemicals), 8.0%; Daimler (autos), 6.6%; Allianz (insurance), 6.6%; SAP (software), 6.0%; Deutsche Telekom, 4.0%; BMW, 3.3%; and Volkswagen AG, 3.1%.
The fund’s industry breakdown includes: Consumer Discretionary, 21.7%; Financials, 16.1%, Materials, 14.6%; Industrials, 13.7%; Information Technology, 7.0%; Utilities, 4.9%; Telecommunication Services, 4.4%; Health Care, 4.1%; and Consumer Staples, 3.8%.
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The ETF’s top holdings are Samsung Electronics, 18.6%; Hyundai Motor Co., 5.5%; SK Hynix Semiconductor, 3.9%; Posco (steel), 3.4%; Naver (Internet content), 3.3%; Shinhan Financial, 3.2%; Hyundai Mobis (auto parts), 3.0%; Kia Motors, 2.5%; KB Financial, 2.3%; and LG Chemical, 2.0%.
The fund’s industry breakdown is as follows: Information Technology, 33.1%; Consumer Discretionary, 19.5%; Financials, 14.1%; Industrials, 12.7%; Materials, 9.1%; Consumer Staples, 5.7%; Energy, 1.9%; Utilities, 1.8%; Telecommunication Services, 1.1%; and Health Care, 0.8%.
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Its geographic breakdown includes China, 17.6%; South Korea, 16.0%; Taiwan, 11.9%; Brazil, 11.3%; South Africa, 7.8%; India, 6.7%; Russia, 4.7%; Mexico, 4.7%; Malaysia, 3.9%; and Indonesia, 2.7%.
The fund’s top holdings are Samsung Electronics (South Korea), 3.2%; Taiwan Semiconductor (computer chips), 2.4%; Tencent Holdings (China: Internet), 2.0%; China Mobile, 1.7%; China Construction Bank, 1.3%; Naspers (South Africa: media and Internet), 1.2%; Industrial & Commercial Bank of China, 1.2%; Itau Unibanco Holding (Brazil: banking), 1.2%; and Gazprom (Russia: gas utility), 1.0%.
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The fund’s top holdings include Toyota, 5.8%; Mitsubishi UFJ Financial, 2.8%; Softbank Corp., 2.4%; Honda Motor, 2.0%; Sumitomo Mitsui Financial, 1.9%; Mizuho Financial Group, 1.6%; Japan Tobacco, 1.4%; Hitachi, 1.4%; Canon, 1.4%; and Takeda Pharmaceutical, 1.3%.
The fund’s industry breakdown includes: Consumer Discretionary, 20.5%; Financials, 20.1%; Industrials, 19.9%; Information Technology, 10.9%; Consumer Staples, 6.8%; Health Care, 6.2%; Materials, 5.7%; Telecommunication Services, 5.6%; Utilities, 2.4%; and Energy, 1.3%.
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The company will spend $20 million on this pipeline, which will make it easier for Pengrowth to sell Lindbergh’s oil to customers in Canada and the U.S. when the project starts up next year.
Lindbergh will add 12,500 barrels to Pengrowth’s overall daily production, which totalled 73,823 barrels in the latest quarter.
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The company’s properties are mainly in Alberta, Saskatchewan, B.C., North Dakota and Montana, as well as the Marcellus shale, which passes through Pennsylvania, New York, Ohio and West Virginia.
In the three months ended June 30, 2014, Enerplus’s production rose 15.5% from a year earlier. However, cash flow per share increased just 2.0%, to $1.04 from $1.02, as it realized lower prices for its Marcellus shale gas.
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In the three months ended June 30, 2014, Crescent Point’s cash flow rose 26.2%, to $636.7 million from $504.4 million a year earlier.
The company increased its output by 16.7%, to 137,368 barrels of oil equivalent from 117,799. That, plus higher oil and gas prices, was the main reason for the higher cash flow. Cash flow per share rose at a slower rate of 18.3%, to $1.55 from $1.31, because Crescent Point issued shares to pay for acquisitions.
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The company has just announced strong quarterly results and a 19.2% dividend increase, to $0.155 a share from $0.13. The stock yields 2.8%.
This is the first hike since Manulife cut its payout by 50% in 2009 to preserve capital after 2008’s stock market declines.
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