We now get down to the nitty-gritty of
value growth investing
and that's screening for stocks.
This means getting the stocks on a given exchange
down to a more manageable level
so that we can analyse them further.
I do this using three main steps:
The first one is to use an online filtering tool
so that I can do an initial screen of all the stocks.
I would then save these results to a simple
spreadsheet so that I can refine the
results further by removing companies
that I don't think represent growth companies
or that are in industries that I don't understand
or that are cyclical in nature.
So the online tool I've been using for several years
is Google Finance,
so just open up your web browser and type in
google.com/finance
This brings you to the main Google Finance page
and on the left hand side you can see
the stock screening menu. So just click that
and that brings you to the
google stock screener itself.
Across the top you can see the dropdowns
for country and also a dropdown for the
exchange in the country and also the sectors.
The criteria are listed here
and you can also see the company
distribution based on the criteria you selected.
You can add criteria yourself and
also reset to get back to this initial
starting point. As you can see there are
around 33,000 stocks on the US exchanges
so we want to get this down to a much more
manageable number.
Let's start with market cap and we'll
just put in a value of say 200 million
When we enter this value it should
change the number in the results from
33,000 but it hasn't and this is a glitch in Google.
So what we need to do is add a
criteria and this can be any random
criteria and this is just to force a
reset of the search results.
So we'll just check this one and over on the left you
can see there's a brief definition and
we'll go ahead and click the button to add
the criteria. I'll just collapse this then
we can see what we're doing and you can
see the number's gone from around 33,000
down to around 11,000.
Let's add a few more criteria
and remember these aren't the
criteria I use, these are just for
demonstration purposes.
So we'll have a maximum PE ratio of 30
and press ENTER
and again the results haven't changed,
we need to add another criteria to force a
reset of those results.
Let's go down to the growth criteria
and choose one of those.
Let's go for 10 year eps growth rate.
Just add that
and then collapse the box again
so we can see what we're doing.
That's reduced the result
slightly to 10,000 because the
p/e ratio of 30 maximum.
So let's change the
10-year eps growth rate to around 5
as a minimum
and again add another criteria
to force a change in the results
just add a random one again this time.
Now that's reduced the results to 857
still too many
so let's look at dividend yield and set
a minimum dividend yield of 5%.
Again we'll need to add a random criteria to force
a reset of the results.
Unfortunately this is just a glitch in
google and there's nothing we can do
about it I'm afraid.
And now we're down to 48,
which is a much more manageable number
for further analysis.
We can now select our results
and copy and paste them into a
spreadsheet, just make sure to get the
header row in the first selection
and just grab the very end
and then copy those
and then go over to your spreadsheet.
This is excel but again any spreadsheet will do
and just paste results in.
The row header has come across as well
and that's the first 20 results.
So we need to go back and get the other pages.
Just select them all again. We don't need
the row header this time.
It can get a bit tricky to get the selection exactly right.
Just copy those
go back to the spreadsheet
and paste them under
the previous results.
So now we go back and get the last
remaining 8 or so
and again we don't need the top row
so just go for the results.
Copy those and paste them into the
spreadsheet again.
I now usually add a column to the
front of the spreadsheet
just to indicate whether the companies need
further analysis or not.
Just type in 'analyse' as a column header
and we can just expand the company name section
so that we can see more clearly.
What I do now is go through each of these companies
and decide whether they warrant further
investigation or not and I exclude
stocks that are foreign to the exchange
that I'm currently looking at and these
are usually indicated by the letters 'ADR'
and I also exclude mining companies and
oil & gas companies but that's my
particular preference.
So this first one is an ADR and if I wanted
to invest in this company
I'd just go to the exchange of the country
that the company belongs to.
So it gets a 'NO' in the analyse column.
I just type in an 'N'
The next one is also an ADR
so again it gets a 'NO'.
For the next one I want to find out a bit more
about the company so I just click its name
and we get taken to Google Fnance, the main page.
And here we can see some company
information at the top
and we've also got a chart
and if we scroll down
there's some more information we can look at
including related companies,
the sector that the company is in
and a description of the company as well.
This tells us that Alliance is a coal
mining company and it's also got a bit of
a complicated company structure
so I think I'll pass on that one as well.
The next one is Amerigas
just scroll down to see the description of the company
and this one looks like it
distributes gas rather than
being a mining company
so I think that warrants further investigation.
I just go back to the spreadsheet
and put a 'Y' in the analyse column.
Just click on the next one
This is a low share price which makes me wary
and the chart is also empty, which
doesn't look like a good sign to me.
Let's just go down to the description
and it looks like, there we go it's a
real estate investment trust
and I'm not really interested in real estate investing
nor companies that are financial companies
or investment trusts,
so I'm going to pass on this one.
Just put a 'NO' in the analyse column
and I would carry on down through
all the results in this manner until
the analyse column is filled with 'yeses' and 'nos'.
I then sort the spreadsheet
so that I've got all the 'yeses' at the top
for ease of reference.
Just go to the top menu
and click on 'data'
and then 'sort'
My list has got headers so I'll keep that checked
and I'll sort on the first column called 'analyse'.
I want the 'yeses' to appear at the top so
i'll do a reverse sort order from Z to A
and then click OK.
And there we have all the 'yeses' at the top
and from the 33,000 we started with
we've now got 10 for further analysis.
All that's needed now is for me to rename the worksheet
and give it a more meaningful name
and I would also save the spreadsheet as well.
If you don't have Excel you can also copy and
paste the results into Google Sheets.
So let's go ahead and try that
Just select them all again
including the row header
at the top there.
Copy and this time we'll switch to Google Sheets
and we can paste them in.
So those are the first 20
and we would go back and copy the rest
and paste them all into the spreadsheet.
Then as before, I'll just insert a column
at the beginning of the spreadsheet
so that I can indicate whether the company
warrants further analysis or not.
Just also expand the company name
so I can see better.
To view information on a company
you just hover over its name
and click on the link that pops up.
The first two companies again are foreign to
US exchanges so they both get a 'NO'
in the 'analyse' column.
To see the next one we'll hover over its name
and click the pop-up.
This takes us to google finance again
where we can get more information on the company
and fill in the spreadsheet as before.
I now need to sort the results
so that all the 'yeses' are at the top
so we just go to the data menu
and click 'sort sheet by column A'
but we'll go Z to A so the 'yeses' appear at the top.
And there we have it just 10 companies
for further analysis.
I just need to grab the header row
that Google's put at the bottom of the
sheet after the sort.
So I'll just do a cut and paste
and also rename the worksheet
for future reference.
Google Docs does save the spreadsheet automatically
but you could give it a title
so that it's easy for you to find in future.
And that's it for screening stocks using Google Finance
and putting the results in a spreadsheet
for further analysis.
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