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Strategies & Market Trends : Fundamental Value Investing

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To: bruwin who wrote (2649)	1/8/2013 2:07:23 AM
From: Shane M	1 Recommendation Read Replies (3) of 4719

hi bruwin, I use Buffettology approaches primarily for stocks w/ various characteristics - but I doubt there's anything that would prevent the variations you mention provided data limitations. There's only 7 yrs of data, and some company particulars might not be there. That said, It's a powerful and flexible tool if it's the kind of thing you're into. Here's some background if interested in fields available (you can do custom calculated fields too which I find very useful). aaii.com There are 3 built-in Buffett screens in the programs, but they tend to combine valuation and stock characteristics in 1 step. I prefer to filter company characteristics independently of the valuation metrics. Then use XLS to filter the survivors in XLS using ideas based on several valuation projection methods outlined in Buffettology book. That means I tend to have looser constraints than required and depend more on valuation projections based on company characteristics - especially determination of how long they can grow and how margins will hold up. Most can't pass the bar even if I let them pass the initial characteristic screens. But in the end - keep in mind I'm an amateur. FWIW, the screens and process for selecting Buffet-type stocks don't turn up as many ideas for me as they used to. I'm not sure what that means, but the opportunities aren't as standout as they used to be maybe a decade ago. I'm using a Greenblatt approach quite a bit now too. Often there's a degree of overlap - I actually prefer lots of overlap of lots of screens/filters.

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