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Terminology and Rules.

Preferred stock considered as bond.
Net Tangible Assets (NTA): Stockholder equity less intangibles.
Liquidation Value (LV): Net tangible assets less longterm investments and less preferred stock value.
Book Value (BV): Net tangible assets plus goodwill plus intangibles (it includes also longterm investments).
It used for evaluation of high technology companies and REITs.
Actual Working Capital (AWC): Current Assets less inventory, receivables [, total liability and preferred stock].
This is not always true: gold mining companies have a GOLD as an inventory and backs have money as inventory, the fact may not be dismissed.
Balanced Working Capital (BWC): Current Assets minus Receivables plus Accounts Payable.
The good company theoretically may have BWC approximated to zero, i.e. it produces additional cash without real working cash.
The would be growth company may have considerably high BWC (as 1.5*MC) as a reserve for future growth.
Vacant Working Capital (VWC): The portion of working capital which is not used in active company business process now. Current Assets minus Inventory minus Receivables minus Current Liability. (Useful for banks evaluation).
Dead Working Capital (DWC): The portion of working capital which is stalled out of business process now. Inventory plus Receivables.
Quick Liability Ratio (QLR): The ratio of Actual Working Capital (AWC) to Current Liabilities (due in less than a year). The absolute value is relevant. The higher the quick ratio, the better the company's liquidity position.
Debt Ratio (DR): The ratio of Long Term Debt to Total Tangible Capital (NTA + Long Term Debt). The lower the Debt Ratio, the less the company is sensitive to future borrowing costs in case of market adversity.
Turnover: The ratio of Revenue to (Receivables plus Inventory) [ and DO NOT subtract Accounts Payable, for company can manipulate with it in report to enlarge ratio]. It shows financial and managerial effectiveness of the company. The higher Turnover, the more effective the company's management. This ratio should be compared across different companies in the same sector.
The would be growth company may have relatively low "turnover" as a reserve for future growth.
Price to Tax Ratio (PTR): This is more objective substitute for popular PE (Price/Earning) ratio, because the earning itself is an accountable gimmik which can be easily manipulated.

The automatic ticker filtering is based on Yahoo! normalized financial reports:
Balance Sheet, Income Statement and Cash Flow.

The fields of reports are divided on two types: objective and fictitious.
The objective field values are pure extractions from bank / book record.
The fictious field values are stated voluntary by company accountant and reflect company management policy.
The objective fields can be compared between different companies. The fictitious ones and ratios they involved can not be properly compared between different companies even between different reports of the same company.

The sorted list of report fields:

Mr. Market		Balance Sheet		Income statement		Cash Flow
OBJECTIVE	FICTITIOUS	OBJECTIVE	FICTITIOUS	OBJECTIVE	FICTITIOUS	OBJECTIVE	FICTITIOUS
Market Capitalization Share Price Outstanding Shares Diluted Shares Short Ratio	Current PE Next Year PE	Cash And Cash Equivalents Net Receivables Accounts Payable Short/Current Long Term Debt Other Current Liabilities Total Current Liabilities Long Term Debt Other Liabilities Deferred Long Term Liability Charges Minority Interest Negative Goodwill	Short Term Investments Inventory Other Current Assets Total Current Assets Long Term Investments Property Plant and Equipment Goodwill Intangible Assets Accumulated Amortization Other Assets Deferred Long Term Asset Charges Total Assets

The ultimate goal of this applet is to entertain and please amateur active investor with direct exploitation of market opportunities.
The lower middle class investor turns to a financial adviser, and pay him fees, for two reasons:

to find market opportunities;
to wait (and do nothing) till these opportunities mature to [predefined] profit or loss.

Unfortunately, this applet addresses the first point only and only partially. The second point, and may be the hardest one to keep it, is upon investor own responsibility and nature. One, who cannot stand long time “do nothing” positions, may do better continuing with his adviser.

There are a few technical remarks about the applet:

The applet loads markets and company data from free internet resources, which as a rule updated, but not always, and not of the same quality for all issues. The result of ticker filtering may serve as preliminary information only. One should recheck data with its own broker and from other trustworthy sources, before executing trades.
Assume that index is defined by some competent authority, and it contains issues of the same level quality. The user, while selecting some index as a quality base for trading strategy, should adjust quantitative parameters to a selected index (quality level).
On loading index tickers, they are filtered to Applet Shortlist. This shortlist is reset on every filter loading.
Tickers can be selected and promoted to accumulative Watchlist from the “Applet shortlist”.
The applet can load market snapshot from some historical points. You may select tickers for one date in the past, and test the selected portfolio result for now or in some other day in the past. (In another tab of the same browser). Beware: for now the price is not adjusted for stock splits, if any falls in testing period.
The applet is constantly updating. The historical ratios are for historical data, but interpreted by the updated version of the applet.
The applet has been developed for the latest version of Chrome. It is also tested on the latest version of Firefox. It can work on other modern browsers as well. The wide screen desktop is recommended. Some adjustments have been made for tablets.
The applet works smooth on i3 desktop. On the older dual core desktop Firefox throws a JavaScript warning message. Give it to continue or switch to faster Chrome.
No private data (exclude IP and common log file information) is stored on site server.
Different browsers run different instances of the applet.
The various tabs or instances of the same browser run the same instance of the applet. Running twice or more instances of the browser can mess internally stored data. One can easily reset the applet to the initial state from “Config” tab.
Hopefully, the applet has intuitive interface. More help will be exposed while hover mouse pointer over data blocks.
Feedback is welcomed (see “Fee” tab).

Finally, you are using the applet and its results at your own discretion.

The Motto

We are trying to implement portfolio for an Active Defensive Investor as it described in the Benjamin Graham book “The Intelligent Investor” and other papers (“Common Sense Investing”, “The Rediscovered Lectures”, “The Memoirs Of The Dean Of Wall Street”).

We are amateurs and ready to devote no more than 2 hours per week for stock research.

We know that as Passive Defensive Investors, on forthcoming 40 years of stock investment we can achieve as about 6% per year by simply investing in 2 or 3 low cost ETF as VTI, VCLT, JNK. The purchase of these ETFs is commission free with some brokers even on small sums.

BUT!

As Active Defensive Investors we are hopeful achieve more, applying simple selection rules to Total Market Index.

The Strategy

The strategy is to find high quality, significantly undervalued issues, i.e. traded below its intrinsic value. Or speculative growth stocks.
For simplicity, let’s say that security is traded today on its intrinsic value if in one year its combine growth from capital appreciation and dividend will be 6% (which is an average year growth of DJ index of last 100 years).
It is difficult to calculate the intrinsic value of security as to predict the future, but it is comparatively simple to detect that security is well below its intrinsic value with high probability, i.e. that considerable growth or reward may be anticipated in the near future (up to 3 years). The combined earning of a statistically representative portfolio of (assume 100) diversified stocks would achieve satisfactory (averaged 20% per annum in 40 years run) result.

B. Graham suggests the following quantitative criteria for detecting such issues:

The Market Value of company far less than value of Tangible Assets (Liquidation Value) and total liability also far less than Liquidation Value.
The cash and cash equivalents are in excess of Total Liabilities of more than Market Value.
The high earning power of well-established issue (from SP500 index): The Market Capitalization to average 20 years past earnings ratio is too low. I.e. PE ratio, is too low. (*)
The well-established issue suffered significant market decline in the last year (50%) (*). That is an assumption that in a steady trend market, the Market Value of an issue fluctuates around its Intrinsic Value.
The well-established issue with a Book Value more than Market Capitalization, which pays dividends for a long time and current dividend is sustainable and its rate high (more than 6%). (*)
Special situation: The company with significant assets forced into bankruptcy. In this case its shares suffer a huge temporary decline (because [index] investment funds massive sell-off?). The Market Value decline may be in well excess of the Liquidation Value, left for common shares in the liquidation process.

*The issue should be of investment grade, i.e. more than 4 times debt interest earned (TIE).

The qualitative criteria:

The investment issues should be of USA like stock market legal cultures: USA offshore, UK, Australia, New Zealand, Canada and Switzerland. All other considered to high risk issues (prone to war, social unrest disasters and high rate of unreliable financial reports). The Scandinavian issues may be considered.
Liquidation and bankruptcy criteria can apply to issues, which are subject to the USA legal system.
No popular brands. (Example: Apple is a popular brand, and Microsoft is not a popular brand).
No issues with low Book Value.
The issue should be with proven successful record (20 years of uninterruptible dividends)
No IPOs and Startups (see previous point)
The portfolio should be diversified on Company Locations, Markets Sectors and Companies in the same Sector (to diminish risks of accounting fraud and irreparable managerial fault)

B. Graham suggests the following sell criteria (apply for a steady trend market).
The issue should be sold:

when it is traded on its intrinsic value price;
on significant (100%) price advance during a year;
on significant (50%) price advance on first 4 months of holding;
after one year of holding;
if it can be substituted on another more attractable issue;

The process is self-regulatory. So that in times when bull markets hits all times high there should be only a few opportunities. A non-invested portions of the portfolio should be held in cash or US government treasury bonds (VGLT).

The active investor should be mentally and financially prepared for a change of a trend and market disaster. After the epic October 1929 crash it took 25 years for SP500 to hit the pre-crash high. But to B. Graham portfolio it took 3 years to return to pre-crash value from its low, and less than 5 years from the start of the crash. So these numbers should be taken for minimal ones for future [imminent] problems.

Attitude to news stream. If you read news about a company (bad or good ones) from public sources, you should understand that all the world already knows this news. So they are (according to the Efficient Market Theory) carefully priced out (high or low) already. And as an amateur investor, you can’t achieve more sound judgment of news than a market. You can learn the cause of the current price move. But no news reflects future development. One should rely solely on described above numeric financial criteria on your trade opts to escape herd behavior. This point is the most difficult one in the Graham theory.

The whole set of rules is very clear and simple to be applied at first sight. But is very difficult and unnatural to follow it that make him say:
“I’m sure that nobody could ever follow these rules.”

Good Luck!

Click on ticker opens:

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Quality Filters:

Drop China:

Drop Stale:

Incepted:

Composite Shortlist:

Show on MCap Drop (%):

Minimal BV (mln $):

Times Debt Interest Earned HQ:

Possible Dividend Reduce

Simple Shortlist:

Minimal BV (mln $):

LV/MC Threshold:

LV/TL Threshold:

AWC/MC Threshold:

VWC/MC Threshold:

PE:

Year MC Drop (%):

TIE (debt safety):

Book Value/MC:

BV/MC In Bankruptcy:

This applet uses free, available internet resources to collect, select and reorder data using several predefined rules. But it is definitely not a freeware applet. One should pay some fee...

One should pay some fee for every lucky buy/sell transaction inspired by the applet. One needs to pay for converting twinkle and odd luck moments onto enduring and even MAZAL. No algorithm, theory or science works uninterruptible on this very human activity area without a substantial amount of divine MAZAL. And MAZAL pay (as much as half of your broker fee for sale of one unit) would be paid off in its enduring. This applet is essentially the MAZALWARE.
One should pay some fee ($1) for every browser session of historical quotes and ratios usage. Only the carefully preserved past can scale down an imminent future catastrophe.
One should pay some fee (50¢) for any question or proposition. That is to punish nasty robots and deprive silly captchas. Not every query will be answered, but surely everyone will be considered!

All the fees are for past excitement and NON-REFUNDABLE, for the past should not be reversed.