By Jack Hough
A finished examine the best way to cash in on the facility of inventory screening
With millions of shares to select from, how will you locate the easiest ones to speculate in? easy: commence with a handful of clues that have a tendency to foretell impressive returns, after which seek the whole industry in seconds for shares which are generating these clues. that is inventory screening, and it is the top way—the in basic terms means, really—to continuously beat the market.
Written by way of skilled funding journalist Jack Hough, Your subsequent nice Stock unearths the main robust monitor suggestions ever produced. The ideas are effortless to persist with. when you have web entry and will stability a checkbook, you will discover successful shares with this e-book as your consultant. you are going to easy methods to locate younger businesses poised for explosive development, mature businesses whose precise revenue capability is quickly hidden, and extra. cease counting on puffed up inventory advice. begin utilizing confirmed screening ideas to discover your subsequent nice stock.
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Extra info for Your Next Great Stock: How to Screen the Market for Tomorrow's Top Performers
Sample text
This book doesn’t cover strategies based on all the clues, but it does cover strategies based on the best clues I’ve found. That is, it covers Business-Narative 1 Design-JWPR050-Hough August 12, 2007 13:52 You Can Beat the Stock Market 33 strategies based on the best clues other people have found, which I have stolen. Stock Picking Survives It’s not that those brainy stock-pricing models like the CAPM and the three-factor model are wrong. It’s that, to the extent those models are wrongly applied to things like finding great stocks, they’re incomplete.
Another said they resembled lottery numbers. Business-Narative 1 Design-JWPR050-Hough August 12, 2007 13:52 You Can Beat the Stock Market 23 America’s stock-market meltdown in 1929, and the economic depression that followed, got investors wondering why no one had seen it coming. A Colorado businessman named Alfred Cowles set about studying whether professionals giving advice on which stocks to buy displayed any ability to beat the market. He found that they didn’t. 4 percent a year. He found that recommendations made by Wall Street Journal editor William D.
If the two clues predict fat returns, but only risk predicts fat returns, then the two clues must themselves be measures of risk. Small companies, they reckoned, are riskier than big ones because they’re not as stable. Also, low-P/E stocks are riskier than high-P/E ones. That might sound like the opposite of what you’re used to hearing. If you buy stocks, you probably figure low-P/E ones are less risky than high-P/E ones because when you put up less money to capture a given amount of earnings, you’re at risk of losing less.