Bespoke Investment Group (via The Reformed Broker) has a list of the biggest gainers for 2009. It should come as no surprise to regular readers of Greenbackd that a number of the stocks are former sub-liquidation value plays (most of which we missed):
We opened a position in VNDA and got a great return. We lost our nerve with BGP and missed out on a great return. We completely ignored ATSG, DTSG, SMRT, RFMD, PIR and CHUX although all appeared on our NCAV screen at some stage earlier this year. A little more evidence that diamonds can be found if you dig through enough trash.
Ref your list above …. http://yhoo.it/oTysRx
A large number of these stocks have corrected heavily the last few days / couple of weeks
what do you say ?
LikeLike
In response to Jim,
There is a site called value-investing.eu which screens for NCAV stocks on the NYSE/AMEX/NASDAQ stocks but also OTC stocks (which is where some real bargains can be found). Subscription runs at 199 euros a year.
reg,
Floris
LikeLike
I have a confession to make. I actually had some Dollar Thrifty Group at about $1.10, but I lobbed off what I had for a small profit. Had I held on to it, I would have had a five-figure position now.
I don’t quite know why, but when my stock shoots up I get anxious. That’s why I miss out on the big gains. (Three in the last twelve-month period, all turnarounds.)
Of course, I’m not alone. I heard of a fellow who bought GE at about $6 a share. The fellow lobbed it off at a profit when it was about $8.
LikeLike
We all do this. Anyone that says they don’t is a liar.
LikeLike
This is a common problem— premature de-allocation is just as common of an issue as premature allocation. But, as long as we follow value based principles, we will come out on top. Even the, so called gurus, never bought at the bottom and sold at the top.
– the_obtuse_investor
LikeLike
Jim / Scott,
We use two:
1. GuruFocus has an excellent screen that allows you to choose between cash flow positive and/or negative net nets. You need to be a subscriber, which runs to around $249 p.a.
2. The Graham NCAV Screen (there’s a link in the Blogroll). It’s free.
G
LikeLike
Thanks for sharing that information. I too use the Graham NCAV Screen website as a reference but have never used Gurufocus although I frequent the site often. Most often, I use my own custom screens on Yahoo and Microsofts screening programs. In your experience, if you would elaborate, which have you had the most success using; GuruFocus or the Graham site? Thanks again.
LikeLike
We started out with the Graham NCAV screen and we’ve only recently been using the Guru Focus screen. Both have strengths. Either is fine. The real work is not in the screen but in reading the filings.
LikeLike
Greenbackd,
Thanks for sharing that information. I agree, the real work is in the filings. If it weren’t for keeping to a value formula my entire investing life, I wouldn’t have had a 610% return thus far for 2009 by investing in deep value company’s. Thanks again,
Jim
LikeLike
Nice work.
LikeLike
Don’t feel bad, I missed allot of them too. I do have one question that I hope you’d be able to find the time for. What software program or website do you recommend for NCAV screening? I’ve used Yahoo because they have an Enterprise Value category that generally brings up many net-net’s for me but since yahoo only has access to a limited amount of publicly traded companies, I miss many of them as well. I also have a very unscientific way to screen net-net’s using microsoft’s online deluxe screener but like yahoo, it too misses many of them. What do you use? Thank you in advance.
Jim
LikeLike
What tool do you use to screen NAVs?
LikeLike