1. Screen a limited universe of stocks to find companies which initially meet our criteria for:
- P/E Multiple
- Projected 12-month Earnings
- Price/Cash Flow Multiple
- Price/Book Multiple
- Dividend Yield
- Generally at no more than 20% above 52-week Low
- Debt Quality of at least investment grade
2. Once a research universe of selected stocks is established
- Examine each company on a stock-by-stock basis
- Using Bottom Up Approach:
- Price/Earnings Multiples
- Asset Growth Rates (Inflation Adjusted)