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Trading below Cash Screen 200 Qualifying

James Altucher Trading Below Cash is a bargain investing strategy loosely based on an approach described by US investor and writer James Altucher in his book, Trade Like Warren Buffett. This is a deep value strategy that Altucher found was highly effective in periods of market distress. He acknowledged that stocks that are priced at less than the value of their cash present a challenge to investors. It is difficult to get an accurate view of how much cash is actually in a business, plus they may have broken business models or dis-incentivised management. The strategy looks for stocks with a market cap below cash, low debt, sufficient cash to cover the annual burn-rate and some stability in revenues and earnings. Altucher wrote: "There is always the danger that management doesn't care about the shareholders but instead enjoys sitting on the assets of the company and using it for their personal benefit. Diversification is the tool that we can use to reduce the risk of corrupt, or at best, uncaring, management.?

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This is an independent study based upon the methods of...
Picture of James Altucher

James Altucher

American hedge fund manager, author and blogger.

Trade Like Warren Buffett

by James Altucher

In his book, "Trade Like Warren Buffett", Altucher indicates that his basket of stocks was up over 100% over six months, "as the market not only jolted upwards in the aftermath of the Iraq War but also began to realize the value of the cash portfolios of these companies". The long-term performance of this screen - and its performance in more benign market conditions - is unknown.

This screen uses the following criteria:

  • Mkt Cap £m > 0
  • Debt To Assets < 33
  • EPS > EPS PTTM
  • Sales (Local) > 0.9 * Sales (Local) PTTM
  • Price to Cash Net of Burn < 1

Results are sorted by:

  • Price to Cash Net of Burn in ascending order


And limited to the first 200 Results


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Performance Tracking


Returns FTSE 100
1 week -5.0% -0.9% -1.6% 1.1% -1.8% -1.8% -1.6% -1.7%
1 month -12.3% -0.8% -0.2% 1.3% 3.8% -2.8% -2.1% -0.7%
3 months 13.3% 11.9% -7.2% -5.8% 7.0% 20.4% 11.8% -3.3%
6 months 17.3% 26.0% -14.9% -6.1% -11.0% 11.8% -8.8% -2.0%
1 year 34.3% 63.7% -10.8% -2.3% -5.9% 35.7% -11.0% 7.0%
2 years 1.3% 50.7% 18.8% - - - - 19.2%
Annualised -1.3% 3.4% 13.2% 38.5% 32.0% 46.9% 0.1%
 
Risks
Max Drawdown -58.1% -50.8% -43.6% -21.5% -36.1% -21.3% -41.2%
Avg Holdings 13.1 24.3 15.5 8.5 3.9 25 3.2
Diversification Moderate Good Good Moderate Low Good Low

 Studies based on equal weighted portfolios of max 25 stocks rebalanced quarterly. Qualifying shares below updated daily. Past performance not indicative of future returns.



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200 Qualifying

Ticker Name Mkt Cap £m Debt To Assets EPS EPS PTTM Sales (Local) Sales (Local) PTTM Price to Cash Net of Burn Flag
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Subscriber Subscriber Turkey
Subscriber Subscriber Hong Kong
Subscriber Subscriber Cyprus
Subscriber Subscriber Japan
Subscriber Subscriber Japan
Subscriber Subscriber India
Subscriber Subscriber India
Subscriber Subscriber Japan
Subscriber Subscriber Switzerland
Subscriber Subscriber Japan
Subscriber Subscriber Japan
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Subscriber Subscriber Hong Kong
Subscriber Subscriber Cyprus
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Subscriber Subscriber Denmark
Subscriber Subscriber India
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Subscriber Subscriber United States
Subscriber Subscriber France
Subscriber Subscriber Singapore
Subscriber Subscriber Austria
Subscriber Subscriber Japan
Subscriber Subscriber Hong Kong
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