We have also placed a premium on the stability ratio on the assumption that the more steady the growth, the more predictable future performance is likely to be. However, should revenue or earnings growth increase over time instead of decreasing as is customary, such positive performance could adversely affect the stability rating. To avoid penalizing companies whose growth displays this favorable trend, Inve$tWare has incorporated a compensating index.
We recognize three levels of quality: Gold, Silver, and Bronze, Gold being the highest level of achievement.
The companies will be ranked according to their point value for that month; and this premier company listing, updated monthly, will display the top twenty companies passing the screen. The three companies earning the highest point value will inhabit the Gold plateau, the next seven companies will reside on the Silver plateau, and the remaining ten companies will occupy the Bronze level. An annual scorecard will be maintained indicating a company's current position as well as its prior achievements. All companies whose performance permits them to survive the quality screen but that do not place in the top twenty will be listed separately with honorable mention.
The roster will be updated as information becomes available each month. The failure of a company to remain within the top twenty may mean only that another company has displaced it in that ranking for that month and not that it has necessarily fallen from grace. It may well continue to appear among those earning honorable mentionall of which are worthy of recognition as top-notch companies.
The Golden Bull award, our annual recognition of quality will be given to the company aggregating the largest number of points for the year, based upon the criteria listed above. Because it is based upon the total number of points achieved throughout the year, a company may be accorded this honor without necessarily having appeared among the top twenty companies every month.
To poke a little fun at those who do not so highly value the quality issues when they invest their money or that of others, Inve$tWare will also bestow its annual, tongue in cheek Bunco Bear award to the company whose stock price enjoyed the greatest increase while losing the most money.
The characteristics of quality and value are separate and distinct. Value, as we use the term, refers to the reasonableness of the current price, measured by the potential reward, balanced against the potential risk of loss, and tempered by the average historical multiple at which the company has traded. It is important to note with caution that inclusion on the Inve$tWare Roster of Quality Companies recognizes a company's achievement of high quality but makes no effort to assess its investment potential.
No matter how excellent the company, if the price paid for the stock is too high, it is not a good investment. Many if not most of these companies may be priced at or above a reasonable price. This list should not be construed as a recommendation of any kind. It is for informational purposes only and intended only to stimulate further investigation. We therefore caution everyone not to purchase stock in any of these companies without first completing a study to determine its fair price, for which purpose we, of course, recommend the use of our software product, the Investor's Toolkit.
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We recognize three levels of quality: Gold, Silver, and Bronze, Gold being the highest level of achievement.
The companies will be ranked according to their point value for that month; and this premier company listing, updated monthly, will display the top twenty companies passing the screen. The three companies earning the highest point value will inhabit the Gold plateau, the next seven companies will reside on the Silver plateau, and the remaining ten companies will occupy the Bronze level. An annual scorecard will be maintained indicating a company's current position as well as its prior achievements. All companies whose performance permits them to survive the quality screen but that do not place in the top twenty will be listed separately with honorable mention.
The roster will be updated as information becomes available each month. The failure of a company to remain within the top twenty may mean only that another company has displaced it in that ranking for that month and not that it has necessarily fallen from grace. It may well continue to appear among those earning honorable mentionall of which are worthy of recognition as top-notch companies.
The Golden Bull award, our annual recognition of quality will be given to the company aggregating the largest number of points for the year, based upon the criteria listed above. Because it is based upon the total number of points achieved throughout the year, a company may be accorded this honor without necessarily having appeared among the top twenty companies every month.
To poke a little fun at those who do not so highly value the quality issues when they invest their money or that of others, Inve$tWare will also bestow its annual, tongue in cheek Bunco Bear award to the company whose stock price enjoyed the greatest increase while losing the most money.
The characteristics of quality and value are separate and distinct. Value, as we use the term, refers to the reasonableness of the current price, measured by the potential reward, balanced against the potential risk of loss, and tempered by the average historical multiple at which the company has traded. It is important to note with caution that inclusion on the Inve$tWare Roster of Quality Companies recognizes a company's achievement of high quality but makes no effort to assess its investment potential.
No matter how excellent the company, if the price paid for the stock is too high, it is not a good investment. Many if not most of these companies may be priced at or above a reasonable price. This list should not be construed as a recommendation of any kind. It is for informational purposes only and intended only to stimulate further investigation. We therefore caution everyone not to purchase stock in any of these companies without first completing a study to determine its fair price, for which purpose we, of course, recommend the use of our software product, the Investor's Toolkit.
