Benjamin Graham: Enterprising Investor
Buys by the criteria Benjamin Graham set out for the enterprising investor in “The Intelligent Investor” — the more active sibling of the defensive approach. Smaller companies are allowed, from 50 million dollars of market cap, but the price discipline is tighter: a price-to-earnings ratio of 10 at most, and a market cap of no more than 120 percent of tangible equity, meaning book value without goodwill. Debt may not exceed equity, earnings per share have to be positive in every available quarter, and the most recent quarter has to be above the oldest one. Graham’s dividend condition is dropped for lack of data, and his current-asset rules are approximated through the debt figure. Only shares our own deep-dive analysis rates green are bought — yellow or no analysis at all is not enough. New positions are added four times a year; a share is sold as soon as it no longer meets the criteria or is no longer rated green.
This portfolio buys shares.
- Performance
- 0.00%
- Lead over QQQ
- −0.86%
- Largest drawdown
- 0.00%
- Win rate
- —
- Cash ratio
- 100.0%
- Portfolio value
- $100,000
Performance against the yardsticks
What the portfolio holds
Nothing is held at the moment — the entire capital sits in cash.
The rules of this portfolio
- Buys
- once a quarter
- Sells
- checked every trading day: rating turned red, stop-loss hit, holding period over, or the stock dropped out of the selection.
Every trade with its reason
The complete history of this portfolio, most recent trade first. It is never truncated — it doubles as the recommendation history required by Art. 4(1)(i) of Delegated Regulation (EU) 2016/958.
This portfolio has not traded yet.