Con­trar­ian value

Shares - - TALKING POINT -

This stock screen ap­plies the ap­proach of US fund man­ager Bill Miller to find com­pa­nies which are trad­ing be­low their in­trin­sic value and which have the po­ten­tial to re­bound.

The process in­cludes look­ing at the share price rel­a­tive to free cash flow, sales and earn­ings growth. Miller had a track record of beat­ing the mar­ket for 15 straight years at for­mer em­ployer Legg Ma­son be­tween 1991 and 2005.

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