Page 823079 ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ 通常モードに戻る ┃ INDEX ┃ ≪前へ │ 次へ≫ ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ ▼with the force amou affinggoops 13/9/25(水) 12:07 ─────────────────────────────────────── ■題名 : with the force amou ■名前 : affinggoops <Chierireakybb@lkjjikl2.info> ■日付 : 13/9/25(水) 12:07 ■Web : http://uggonsalejp.0722sz.com/ -------------------------------------------------------------------------
three We know http://paulsmithonsalejp.0722sz.com/ acquiring ポールスミス メンズ バッグ We know ポールスミス メンズ バッグ We know ポールスミス メンズ バッグ Replacement Stocks for Magic Formula Investing MagicDiligence is finding out the chef's hat and apron nowadays and going to operate cooking up a new http://paulsmithselljp.0722sz.com/ Magic Formula Investing (MFI) dish for investors to taste! Joel Greenblatt, the founder of MFI, explained the technique in somewhat broad terms in his book The Tiny ポールスミス 時計 販売店 Book that Beats the Market, however the precise calculations have consistently been a little of a mystery. We know the spirit of your two statistics. Earnings yield is defined as (EBIT / Enterprise value). Return on capital is defined as (EBIT /Tangible invested capital). Many have tried to duplicate it, and MagicDiligence too ポールスミス 時計 販売店 has tools to calculate MFI statistics for any stock. Working with these tools, I've found what appears ポールスミス メンズ バッグ like a few discrepancies in between my calculations and these ポールスミス 時計 販売店 on the official website. So, let's break out the ginsu knife and cut out three in the "official" stocks that don't make sense, and replace them with some correct high rankers that, for unknown reasons, never screen officially. The screen we're operating with right here is the major 50 stocks over 50 million market cap. 1) H Block (HRB). H Block is not an expensive stock, but does not look either specifically low-cost or superefficient. By my calculations, MFI earnings yield is 8.7% and return on capital is 22%, neither of which should really screen the stock in to the http://paulsmithjpbuy.0722sz.com/ prime 50. I am not precisely confident what Greenblatt is performing with H Block's roughly $500 million in mortgage loans held for investment. Since Block consists of interest revenue as part of operating earnings, they should certainly be added to invested capital. Even taking them out doesn't substantially enhance return on capital. I am throwing Block out on the screen. 2) China North East Petroleum (NEP). We know in the man himself that Greenblatt has especially filtered out Chinese reverese takeovers from MFI following they littered the screen in 2009. So why does NEP remain? They have http://paulsmithdiscountsale.0722sz.com/ a history of SEC filing delays along with a rotating door at CFO, placing their accounting into question. There can be ポールスミス 財布 新作 numerous other low-cost stocks with out fundamental accounting concerns, so this one gets chopped at the same time. 3) Korn Ferry (KFY). Korn Ferry is low-priced having a 17.5% earnings yield, but return on tangible capital at 27% is practically nothing ポールスミス 時計 販売店 specific, and undoubtedly shouldn't screen the stock into the major 50 (over 50 million). I've looked over the numbers many times on this 1 and can not fully grasp ポールスミス 時計 販売店 why it is actually an official MFI stock there is little to misinterpret. Possibly the data set is just incorrect. Replace With These "Unofficial" Picks 1) Incredimail (MAIL). At a practically ポールスミス バッグ レディース 40% MFI earnings yield and more than 400% pretax return on tangible capital, how can MAIL not be screened? The stock has also regularly paid a monster dividend of about 15% for the past 3 years. It truly is an Israelibased organization, but so was Thoughts CTI (MNDO) and Cellcom Israel (CEL) when they http://paulsmithjpbuy.cha-mama.com/ have been around the ポールスミス バッグ メンズ ビジネス official screen (Israeli agencies all look to spend large dividends!). The organization tends to make application to spruce up emails, has 55% of industry cap in cash, and carries no debt. two) Investigation in Motion (RIMM). RIMM has been within the official screen before, but isn't currently ポールスミス 長財布 人気 and hasn't been for some time. At an earnings yield of 35.5% plus a return on capital number of 93%, it truly is, by far, the highest ranking stock using a industry cap more than $10 billion. It definitely must rank more than official stocks like Dell (DELL) (16.1%; 85%) and Microsoft (MSFT) (15.1%; 133%). This 1 is usually a mystery. 3) Amtech (ASYS). MFI has a ポールスミス 腕時計 革ベルト variety of chip equipment ポールスミス 時計 販売店 stocks, but why not Amtech? My calculations show a earnings yield of 88.6% and return on capital of 94%, placing it above "official" competitors like LTXCredence (LTXC) (27%; 103%) and KLATencor (KLAC) (24%; 87%). Amtech is desirable, also, with a history of fast http://paulsmithdiscountonline.0722sz.com/ growth, a stellar balance sheet ($60 million in cash ポールスミス 時計 販売店 We know ポールスミス バッグ メンズ ビジネス with no debt), and trading close to ポールスミス バッグ メンズ ビジネス a 52week low. |