Sixteen factors (1994 memo); Buffett, The Superinvestors of Graham-and-Doddsville
Assets, not earnings: companies at or below book value with little debt, held for a long time.
+0.97%
Booked, per closed position
1 closed · average excess vs the market
100%
Closed positions ahead of the market
median +0.97%
+0.09%
Open book, marked to market
12 names still held
1
Average sessions held
window is 60 sessions
Only 1 positions have closed. That is a blotter, not evidence — a handful of trades tells you almost nothing about a rule set, and the numbers above will move a lot as it fills.
The rule, as implemented here
every condition, in the order it is applied
Price-to-book of 1.0 or less.
Debt no more than 30% of equity.
Profitable in at least three of the last four quarters.
Ranking: Deepest discount to book first. Portfolio is the top 12 names, equal-weighted.
Where our version differs: Schloss preferred companies at a discount to book and with long histories; here the tests are price-to-book at or under 1 and debt under 30% of equity, with at least three profitable quarters in four so a distressed name does not qualify on cheapness alone.
How these numbers were made. Computed here from NSE and BSE end-of-day bhavcopy, adjusted for splits and bonuses, not supplied by anyone being measured. Portfolios are recorded on the day they are published and scored forward from that date, so no figure on this page could have been chosen after the outcome was known. The code that produced them is stamped in build.json.
This is our implementation, not Walter Schloss’s portfolio. Schloss preferred companies at a discount to book and with long histories; here the tests are price-to-book at or under 1 and debt under 30% of equity, with at least three profitable quarters in four so a distressed name does not qualify on cheapness alone. None of the authors named on this site are associated with it, and nothing here is advice or a recommendation to buy or sell anything.