This Scrooge screen reminds me of Greenblatt's Magic Formula but is easier to implement with the common screening tools. Basically the screen looks for "cheap stocks possessing a high degree of earnings quality".
The screen produced a return of 17.5% for 2005 (outperforming the SPYDR's 7.7%). There are seven stocks (that Tim Beyers) picked from the screen this year. Returning is Taiwan Semiconductor (TSM). Another stock is Posco (PKX) that Warren Buffett is said to have bought. This one looks dirt cheap with a p/e of 3.5 and an ROE of 30.2. Another one that's dirt cheap is Southern Copper (PCU) with a p/e of 5.7 and an ROE of 40.8.
(Disclaimer: I own none of these stocks -- yet.)
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