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Stock Screening
For us, we have found that stock screens just don't work. I wish they did. It would make our jobs a lot easier. There are certain commonalities within our portfolio. We have high return on tangible se which is a good measure of efficiency for a company. Our companies have demonstrated pricing power over long periods of time. A standard stock screen does not find the companies that we want to invested. The advantages that some of our companies have are subtle. They can't necessarily be gleaned directly from a stock screen.