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Daniel Seens  Daniel Seens

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  • Daniel Seens commented on Daniel Seens's article 05-15 14:12
    Would Graham Invest at Current Valuation Levels?
    Whether experienced or inexperienced, investors are always wondering and worrying about when to time their stock purchases. Purchasing stocks at the...
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    Daniel Seens 05-15 15:12
    • Thanks for your question.

      If you compute the historical record at k=2, as per Graham's original formula, over the last few decades, you'll see that the model has consistently undervalued the market. In fact, the model has signalled staying out of the market for all of the last 3 major bull runs.

      We derived a value of k=0.8 based on a proprietary non-linear optimization procedure. While certainly not perfect, k=0.8 has consistently provided the best trading results, in that entry/exit points signalled at k=0.8 have maximized cumulative holding period returns. This optimization procedure is re-run annually and, as of December 2016, generated a value of 0.8. In December 2015, the model was optimized at k=0.75.



  • Daniel Seens posts: 05-12 09:10
    Which Canadian Bank Would Make the Best Investment?
    Every quarter we like to reflect on which trades have performed well and which trades have performed poorly. In the last quarter some of our best-performing trades were in the Canadian financial sector. What we want to know is if we should...
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