- If I was a fund manager...
- Value screens smash it over the past 12 months
- Six selections of 10 stocks for investors of all approaches
I’m very pleased to see my Screen for all Seasons picking up the pace. In an alternative universe, one where I work as a fund manager rather than a journalist (probably requiring me to have a full personality transplant among other things) this is the kind of approach I would like to think I’d take. Why? For the simple reason that I’m something of a style agnostic. Through my career I’ve seen many different approaches work and, partly because I’ve had to consider and understand many different investment methods in order to do my job effectively, I’ve developed a respect for them all.
My Screen for all Seasons is designed to be style-agnostic. Essentially, the screen takes the view that different approaches to investing will go in and out of favour and it is hard to predict just when fortunes will change. It combines six different approaches to investing, ranging from a racy momentum and growth approach (the Great Expectations screen), through to a deep value strategy (the CAPE screen). The idea is that all these approaches have merits in the long term, but all can come adrift for protracted periods.