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James Montier’s Short Screen

August 08, 2012 | About:
GuruFocus

GuruFocus

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In May 2008 James Montier, fund manager at GMO, couldn’t find opportunities to invest, he wrote an article about short selling: Joining The Dark Side: Pirates, Spies and Short Sellers. His research found that the ideal short candidates are the companies that have these three characteristics:

1. Stocks that are sold at high P/S ratio

2. Companies that have low Piotroski F-score

3. Companies that have double-digit asset growth.

He found that companies with any of these characteristics underperformed the market.

Considering this, we have created a James Montier Short Screen in our All-In-One Screener with these filters:

1. P/S ratio is higher than 90% of the companies in the industry

2. Piotroski F-score is 3 or less

3. Five-year average asset growth is higher than 10%.

With these filters we get the list of the stocks that meet the criteria:

Symbol Company Share Price ($) Market Cap (mil) F Score P/S
BTX BioTime, Inc. 3.996 197.3 1 45.4
CVM CEL-SCI Corporation 0.34 92.8 1 97.1
GERN Geron Corporation 1.7 223.2 1 91.6
SNT Senesco Technologies, Inc. 0.29 28.5 2 204
UQM UQM Technologies, Inc. 0.78 29.6 2 2.9
DXR Daxor Corporation 8.99 37.3 2 25.8
REFR Research Frontiers, Inc. 2.93 55.9 2 66
ACHN Achillion Pharmaceuticals, Inc. 6.51 474.7 2 1922
BPAX Biosante Pharmaceuticals Inc 1.35 25.2 2 57.9
HUSA Houston American Energy Corporation 0.8197 31.1 2 26.9
ECTE Echo Therapeutics Inc 1.46 57.6 2 128.9
CGEN Compugen Ltd. (USA) 3.56 123.3 3 110.6
HEB Hemispherx BioPharma, Inc 0.3587 47.2 3 292.8
SYNM Syntroleum Corp 0.64 64.4 3 15.3
DRQ Dril-Quip, Inc. 70.98 2894.7 3 4.8
GYRO Gyrodyne Company of America, Inc. 112.83 167.5 3 30.4
MOSY MoSys Inc. 3.24 128.6 3 9.1
CRUS Cirrus Logic, Inc. 38.07 2448.9 3 5.7
ADES ADA-ES, Inc. 23.36 230.2 3 4.3
CNQR Concur Technologies, Inc. 67.37 3519.5 3 10.1
RCKB Rockville Financial Inc 11.85 340.7 3 3.8
ETAK Elephant Talk Communications Inc. 1.31 156.2 3 4.8


Not surprisingly, the prices of many of these stocks are already at close to 52-week lows and almost all of them don’t pay dividends.

We will monitor the performances of these stocks. The stocks are in the portfolio James Montier Short Screen.

This is the link to the screen.

Rating: 4.5/5 (11 votes)

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