5 New Messages
Digest #2890
Messages
Tue Dec 10, 2013 7:44 am (PST) . Posted by:
alexcomp1
That helps. I was not enclosing the l1 in quotes - I think the examples were without quotes.
Tue Dec 10, 2013 8:00 am (PST) . Posted by:
dmatu2000
This is a great retrieval template. Thank you.
It works great with NASDAQ listed securities but doesn't seem to work with anything tickers listed on the NYSE. Has anyone been able to fix this?
It works great with NASDAQ listed securities but doesn't seem to work with anything tickers listed on the NYSE. Has anyone been able to fix this?
Tue Dec 10, 2013 10:23 am (PST) . Posted by:
"Kermit W. Prather" kermitpra
Has anyone try to build Joel <http://en.wikipedia.org/wiki/Joel_Greenblatt>
Greenblatt ISBN 0-471-73306-7
<http://en.wikipedia.org/wiki/Special:BookSources/0471733067> , Magic
formula investing as described in wikipedia.org using the SMF-Adddin?
Greenblatt suggests purchasing 30 "good companies": cheap stocks with a high
earnings yield <http://en.wikipedia.org/wiki/Earnings_yield> and a high
return on capital <http://en.wikipedia.org/wiki/Return_on_capital> . He
touts the success of his magic formula in his book 'The Little Book that
Beats the Market ', Joel <http://en.wikipedia.org/wiki/Joel_Greenblatt>
Greenblatt ISBN 0-471-73306-7
<http://en.wikipedia.org/wiki/Special:BookSources/0471733067> , citing that
it does in fact beat the S <http://en.wikipedia.org/wiki/S%26P_500> &P 500
96% of the time, and has averaged a 17-year annual return of 30.8%
<http://en.wikipedia.org/wiki/Magic_Formula_Investing#cite_note-1> [1]
I am more of a trader than an investor but I'd be interested in the
results.
This link provides some detail to the formula.
http://en.wikipedia.org/wiki/Magic_Formula_Investing
Gurufocus has a link for the magic formula investing but is a premium
service which I do not have.
http://www.gurufocus.com/MagicFormula.php
Calculation/Definition of the Magic Formula:
1. Define minimum Market Capitalization that meets your liquidity needs.
Greenblatt used a market capitalization floor of $50 million, but advised
that you can set the minimum as high as $5 billion.
2. Sector Filter: Due to their unique financial structures, all stocks in
the financial and utility sectors are excluded. Calculate Earnings Yield =
EBIT / enterprise value.
3. Calculate Return on Capital = EBIT / (Net fixed assets + working capital)
4. EY Rank: Rank the stocks in descending order based on Earnings Yield and
assign a rank number to each.
5. ROC Rank: Rank the same stocks in descending order based on Return on
Capital and assign a rank number to each.
6. Add the rankings and select stocks that have the lowest combined ranking
score. So a company that is ranked 358nd best in terms of ROC and 122rd
highest in EY would gets a better combined ranking (i.e., 470) than a
company that is ranked 1st in ROIC but only 950th best in EY (i.e., 951).
Greenblatt ISBN 0-471-73306-
<http://en.wikipedia
formula investing as described in wikipedia.org using the SMF-Adddin?
Greenblatt suggests purchasing 30 "good companies"
earnings yield <http://en.wikipedia
return on capital <http://en.wikipedia
touts the success of his magic formula in his book 'The Little Book that
Beats the Market ', Joel <http://en.wikipedia
Greenblatt ISBN 0-471-73306-
<http://en.wikipedia
it does in fact beat the S <http://en.wikipedia
96% of the time, and has averaged a 17-year annual return of 30.8%
<http://en.wikipedia
I am more of a trader than an investor but I'd be interested in the
results.
This link provides some detail to the formula.
http://en.wikipedia
Gurufocus has a link for the magic formula investing but is a premium
service which I do not have.
http://www.gurufocu
Calculation/
1. Define minimum Market Capitalization that meets your liquidity needs.
Greenblatt used a market capitalization floor of $50 million, but advised
that you can set the minimum as high as $5 billion.
2. Sector Filter: Due to their unique financial structures, all stocks in
the financial and utility sectors are excluded. Calculate Earnings Yield =
EBIT / enterprise value.
3. Calculate Return on Capital = EBIT / (Net fixed assets + working capital)
4. EY Rank: Rank the stocks in descending order based on Earnings Yield and
assign a rank number to each.
5. ROC Rank: Rank the same stocks in descending order based on Return on
Capital and assign a rank number to each.
6. Add the rankings and select stocks that have the lowest combined ranking
score. So a company that is ranked 358nd best in terms of ROC and 122rd
highest in EY would gets a better combined ranking (i.e., 470) than a
company that is ranked 1st in ROIC but only 950th best in EY (i.e., 951).
Tue Dec 10, 2013 1:46 pm (PST) . Posted by:
zarathustra_winced
I wrote a screening routine in VBA for the Magic Formula which used SMF and ranked all the Finviz tickers, 5000 or 6000 or so, against greenblatt's criteria. It used advfn data though, so it stopped working a couple months ago. I use Thomson Reuters premium data now.
Sent from my iPhone
> On Dec 10, 2013, at 1:23 PM, "Kermit W. Prather" <kermitp@tampabay.rr.com> wrote:
>
>
>
> Has anyone try to build Joel Greenblatt ISBN 0-471-73306-7, Magic formula investing as described in wikipedia.org using the SMF-Adddin?
>
> Greenblatt suggests purchasing 30 "good companies": cheap stocks with a high earnings yield and a high return on capital. He touts the success of his magic formula in his book 'The Little Book that Beats the Market ', Joel Greenblatt ISBN 0-471-73306-7, citing that it does in fact beat the S&P 500 96% of the time, and has averaged a 17-year annual return of 30.8%[1]
>
> I am more of a trader than an investor but I'd be interested in the results.
>
> This link provides some detail to the formula.
>
> http://en.wikipedia.org/wiki/Magic_Formula_Investing
>
>
>
> Gurufocus has a link for the magic formula investing but is a premium service which I do not have.
>
> http://www.gurufocus.com/MagicFormula.php
>
> Calculation/Definition of the Magic Formula:
>
> 1. Define minimum Market Capitalization that meets your liquidity needs. Greenblatt used a market capitalization floor of $50 million, but advised that you can set the minimum as high as $5 billion.
> 2. Sector Filter: Due to their unique financial structures, all stocks in the financial and utility sectors are excluded. Calculate Earnings Yield = EBIT / enterprise value.
> 3. Calculate Return on Capital = EBIT / (Net fixed assets + working capital)
> 4. EY Rank: Rank the stocks in descending order based on Earnings Yield and assign a rank number to each.
> 5. ROC Rank: Rank the same stocks in descending order based on Return on Capital and assign a rank number to each.
> 6. Add the rankings and select stocks that have the lowest combined ranking score. So a company that is ranked 358nd best in terms of ROC and 122rd highest in EY would gets a better combined ranking (i.e., 470) than a company that is ranked 1st in ROIC but only 950th best in EY (i.e., 951).
>
>
>
> Unsubscribe
>
>
> ody>
Sent from my iPhone
> On Dec 10, 2013, at 1:23 PM, "Kermit W. Prather" <kermitp@tampabay.
>
>
>
> Has anyone try to build Joel Greenblatt ISBN 0-471-73306-
>
> Greenblatt suggests purchasing 30 "good companies"
>
> I am more of a trader than an investor but I'd be interested in the results.
>
> This link provides some detail to the formula.
>
> http://en.wikipedia
>
>
>
> Gurufocus has a link for the magic formula investing but is a premium service which I do not have.
>
> http://www.gurufocu
>
> Calculation/
>
> 1. Define minimum Market Capitalization that meets your liquidity needs. Greenblatt used a market capitalization floor of $50 million, but advised that you can set the minimum as high as $5 billion.
> 2. Sector Filter: Due to their unique financial structures, all stocks in the financial and utility sectors are excluded. Calculate Earnings Yield = EBIT / enterprise value.
> 3. Calculate Return on Capital = EBIT / (Net fixed assets + working capital)
> 4. EY Rank: Rank the stocks in descending order based on Earnings Yield and assign a rank number to each.
> 5. ROC Rank: Rank the same stocks in descending order based on Return on Capital and assign a rank number to each.
> 6. Add the rankings and select stocks that have the lowest combined ranking score. So a company that is ranked 358nd best in terms of ROC and 122rd highest in EY would gets a better combined ranking (i.e., 470) than a company that is ranked 1st in ROIC but only 950th best in EY (i.e., 951).
>
>
>
> Unsubscribe
>
>
> ody>
Tue Dec 10, 2013 8:42 pm (PST) . Posted by:
"Randy Harmelink" rharmelink
The formula for return on capital is actually much more complicated. He
never does fully define it in his book.
A Yahoo group on the topic:
http://groups.yahoo.com/neo/groups/magicformulainvesting/info
A good blog on the topic:
http://justadrone.blogspot.com
And the man himself:
http://www.magicformulainvesting.com
The "Greenblatt" ranking on Portfolio123.com uses:
OpIncAftDepr(0,TTM)/( NetPlant(0,qtr)+ Recvbl(0,qtr)+ Inventory(0,qtr))
OpIncAftDepr(0,TTM)/ $EV
I think $EV is defined as:
MktCap+ DbtTotQ-CashEquiv(0,QTR) + PfdEquity(0,QTR) + NonControlInt(0,QTR)
On Tue, Dec 10, 2013 at 11:23 AM, Kermit W. Prather <kermitp@tampabay.rr.com
> wrote:
>
> Has anyone try to build Joel Greenblatt<http://en.wikipedia.org/wiki/Joel_Greenblatt> ISBN
> 0-471-73306-7<http://en.wikipedia.org/wiki/Special:BookSources/0471733067>,
> *Magic formula investing as described in wikipedia.org
> <http://wikipedia.org> *using the SMF-Adddin?
>
>
>
> Greenblatt suggests purchasing 30 "good companies": cheap stocks with a
> high earnings yield <http://en.wikipedia.org/wiki/Earnings_yield> and a
> high return on capital <http://en.wikipedia.org/wiki/Return_on_capital>.
> He touts the success of his magic formula in his book 'The Little Book that
> Beats the Market ', Joel Greenblatt<http://en.wikipedia.org/wiki/Joel_Greenblatt> ISBN
> 0-471-73306-7<http://en.wikipedia.org/wiki/Special:BookSources/0471733067>,
> citing that it does in fact beat the S&P 500<http://en.wikipedia.org/wiki/S%26P_500>96% of the time, and has averaged a 17-year annual return of 30.8%
> [1] <http://en.wikipedia.org/wiki/Magic_Formula_Investing#cite_note-1>
>
>
>
> I am more of a trader than an investor but I'd be interested in the
> results.
>
>
>
> This link provides some detail to the formula.
>
>
>
> http://en.wikipedia.org/wiki/Magic_Formula_Investing
>
>
>
> Gurufocus has a link for the magic formula investing but is a premium
> service which I do not have.
>
>
>
> http://www.gurufocus.com/MagicFormula.php
>
>
>
> *Calculation/Definition of the Magic Formula:*
>
> 1. Define minimum Market Capitalization that meets your liquidity needs.
> Greenblatt used a market capitalization floor of $50 million, but advised
> that you can set the minimum as high as $5 billion.
> 2. Sector Filter: Due to their unique financial structures, all stocks in
> the financial and utility sectors are excluded. Calculate Earnings Yield =
> EBIT / enterprise value.
> 3. Calculate Return on Capital = EBIT / (Net fixed assets + working
> capital)
> 4. EY Rank: Rank the stocks in descending order based on Earnings Yield
> and assign a rank number to each.
> 5. ROC Rank: Rank the same stocks in descending order based on Return on
> Capital and assign a rank number to each.
> 6. Add the rankings and select stocks that have the lowest combined
> ranking score. So a company that is ranked 358nd best in terms of ROC and
> 122rd highest in EY would gets a better combined ranking (i.e., 470) than a
> company that is ranked 1st in ROIC but only 950th best in EY (i.e., 951).
>
never does fully define it in his book.
A Yahoo group on the topic:
http://groups.
A good blog on the topic:
http://justadrone.
And the man himself:
http://www.magicfor
The "Greenblatt&qu
OpIncAftDepr(
OpIncAftDepr(
I think $EV is defined as:
MktCap+ DbtTotQ-CashEquiv(
On Tue, Dec 10, 2013 at 11:23 AM, Kermit W. Prather <kermitp@tampabay.
> wrote:
>
> Has anyone try to build Joel Greenblatt<http://en.wikipedia
> 0-471-73306-
> *Magic formula investing as described in wikipedia.org
> <http://wikipedia.
>
>
>
> Greenblatt suggests purchasing 30 "good companies"
> high earnings yield <http://en.wikipedia
> high return on capital <http://en.wikipedia
> He touts the success of his magic formula in his book 'The Little Book that
> Beats the Market ', Joel Greenblatt<http://en.wikipedia
> 0-471-73306-
> citing that it does in fact beat the S&P 500<http://en.wikipedia
> [1] <http://en.wikipedia
>
>
>
> I am more of a trader than an investor but I'd be interested in the
> results.
>
>
>
> This link provides some detail to the formula.
>
>
>
> http://en.wikipedia
>
>
>
> Gurufocus has a link for the magic formula investing but is a premium
> service which I do not have.
>
>
>
> http://www.gurufocu
>
>
>
> *Calculation/
>
> 1. Define minimum Market Capitalization that meets your liquidity needs.
> Greenblatt used a market capitalization floor of $50 million, but advised
> that you can set the minimum as high as $5 billion.
> 2. Sector Filter: Due to their unique financial structures, all stocks in
> the financial and utility sectors are excluded. Calculate Earnings Yield =
> EBIT / enterprise value.
> 3. Calculate Return on Capital = EBIT / (Net fixed assets + working
> capital)
> 4. EY Rank: Rank the stocks in descending order based on Earnings Yield
> and assign a rank number to each.
> 5. ROC Rank: Rank the same stocks in descending order based on Return on
> Capital and assign a rank number to each.
> 6. Add the rankings and select stocks that have the lowest combined
> ranking score. So a company that is ranked 358nd best in terms of ROC and
> 122rd highest in EY would gets a better combined ranking (i.e., 470) than a
> company that is ranked 1st in ROIC but only 950th best in EY (i.e., 951).
>
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