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Comprar el libro en Amazon: El pequeño libro que bate al mercado

El siguiente texto será traducido en breve al castellano:

Your step-by-step instructions for beating the market using the magic formula*

Step 1: Go to
Step 2:Follow the instructions for choosing company size (e.g.,companies with market capitalizations over $50 million,or over $200 million, or over $1 billion, etc.). For most
individuals, companies with market capitalizations above$50 million or $100 million should be of sufficient size.
Step 3:Follow the instructions to obtain a list of top-ranked magic formula companies.
Step 4: Buy five to seven top-ranked companies. To start, invest only 20 to 33 percent of the money you intend to invest during the first year (for smaller amounts of capital, lowerpriced Web brokers.)
Step 5: Repeat Step 4 every two to three months until you have invested all of the money you have chosen to allocate to your magic formula portfolio. After 9 or 10 months, this should result in a portfolio of 20 to 30 stocks (e.g., seven stocks every three months, five or six stocks every two months).
Step 6: Sell each stock after holding it for one year. For taxable accounts, sell winners after holding them a few days more than one year and sell losers after holding them a few days less than one year (as previously described). Use the proceeds from any sale and any additional investment money to replace the sold companies with an equal number of
new magic formula selections (Step 4)
Step 7: Continue this process for many years. Remember, you must be committed to continuing this process for a minimum of three to five years, regardless of results. Otherwise, you will most likely quit before the magic formula has a chance to work!

Option 2: General Screening Instructions

If using any screening option other than magicformula, you should take the following steps to best approximate the results of the magic formula:

• Use Return on Assets (ROA) as a screening criterion. Set the minimum ROA at 25%. (This will take the place of return on capital from the magic formula study.)
• From the resulting group of high ROA stocks, screen for those stocks with the lowest Price/Earning (P/E) ratios. (This will take the place of earnings yield from the magic formula study.)
• Eliminate all utilities and financial stocks (i.e., mutual funds, banks and insurance companies) from the list.
• If a stock has a very low P/E ratio, say 5 or less, that may indicate that the previous year or the data being used are unusual in some way. You may want to eliminate
these stocks from your list. You may also want to eliminate any company that has announced earnings in the last week. (This should help minimize the
incidence of incorrect or untimely data.)
• After obtaining your list, follow steps 4 and 7.

To utilize the magic formula strategy successfully, you must understand only two basic concepts. First, buying good companies at bargain prices makes sense. On average, this is what the magic formula does. Second, it can take Mr. Market several years to recognize a bargain. Therefore, the magic formula strategy requires patience.

Comprar el libro en Amazon: El pequeño libro que bate al mercado


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