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Strategies & Market Trends : Value Investing
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To: MCsweet who wrote (55013)3/6/2015 12:49:57 PM
From: Paul Senior  Read Replies (1) of 78751
 
Re:
"When you know for a fact that steel and oil companies going forward won't have improving margin and strengthening balance sheets due to low commodity prices, I think buying them because they have a good historical F-score is silly. I put faith in the screen, but you have to understand the purpose of the screen and apply a little common sense IMO."


I wonder. The Piotroski screen is "famous" supposedly because the stocks mentioned therein do well overall if the methodology is followed. Operative word to me is "overall". The thing works as a package. Once the investor starts weighing the business merits or prospects of each individual company to buy among all in the screen, that brings in a judgmental factor that "unquantifies" Piotroski's quantitative only methodology.
Isn't this a correct understanding of what he is about? Otoh, who knows in the real world? Plenty of people write about his screen and offer up stocks; I don't know of anybody who actually bases their investment portfolio on Piotroski selections, let alone uses the entire screen.

jmo
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