마법공식 레이엄 가치투자 1.26

The Magic Formula is a structured investment approach that encompasses the following steps:

1. Determine the investment amount to allocate over the course of one year.
2. Obtain a list of companies ranked according to the Magic Formula methodology.
3. Purchase stocks of the top 5 to 7 ranked companies using 20% to 33% of the allocated investment fund.
4. Repeat steps 2 and 3 every 2 to 3 months until funds are fully utilized. This process will likely culminate in a portfolio consisting of approximately 20 to 30 companies within a 9 to 10 month timeframe.
5. Hold each individual stock for one year before selling.
6. Reinvest the proceeds from sales into the same number of new companies.
7. Continue this process for several years to enhance portfolio diversification.

Contrarian Investment Strategy:

• Graham's Formula: Excludes all technology-related companies.
• Target firms should possess either assets or revenues exceeding $50 million.
• The current ratio must exceed 200%, or if below, utility or telecommunications firms should not have current liabilities exceeding current net assets or working capital.
• The long-term earnings per share (EPS) growth should be at least 30% over the last decade, with no average EPS losses in the past five years.
• The price-to-earnings ratio (PER) must be under 15.
• The product of price-to-book ratio (PBR) and PER should not exceed 22.
• The total debt ratio must remain below 100%.
• The company should consistently pay dividends.

Power Analysis: