Monday, August 18, 2008

Ben Graham meets the Exchange Trade Note part II

As discussed in the previous post, Nuveen has created an interesting Benjamin Graham based index. Here is a look at the Graham Small Cap Index constituents for the Benjamin Graham Small Cap Value ELEMENTS portfolio:

A O Smith Corp
Administaff Inc
Adtran Inc
Alon USA Energy Inc
American Eagle Outfitters Inc
American Financial Group Inc
Amkor Technology Inc
Applied Industrial Technologies Inc
Arkansas Best
Aspen Insurance Holdings
Axis Capital Holdings
bebe stores inc
Biovail Corp
Black & Decker Corp
Brinker International
Brown Shoe Co Inc
Carlisle Cos
Carpenter Technology Corp
Cash America International
CF Industries Holdings Inc
CSG Systems International
Darden Restaurants Inc
Endurance Specialty Holdings
Ethan Allen Interiors Inc
Flowers Foods
Frontier Oil Corp
GFI Group
Graco Inc
Granite Construction
Group 1 Automotive
Guess? Inc
Harte-Hanks
Hasbro Inc
HCC Insurance Holdings
Heartland Express Inc
Heartland Payment Systems Inc
Heidrick & Struggles International Inc
Helmerich & Payne
Herbalife Corp
HNI Corp
Holly Corp
Hubbell Inc
IPC Holdings
J B Hunt Transport Services
Jones Lang LaSalle Inc
Kaiser Aluminum Corp
Landstar System Inc
Lennox International Inc
Manitowoc Co
Manpower Inc
Max Capital Group
Men's Wearhouse
Meredith Corp
Methanex Corp
Micrel Inc
Montpelier Re Holdings
NutriSystem Inc
Odyssey Re Holdings
OfficeMax Inc
Oshkosh Corp
Packaging Corp of America
PartnerRe Ltd
Patterson-UTI Energy Inc
Perini Corp
PETsMart Inc
Phillips-Van Heusen Corp
Platinum Underwriters Holdings
Polaris Industries
Pool Corp
Precision Drilling Trust
RadioShack Corp
Reliance Steel & Aluminum
Renaissance Re
RLI Corp
Robert Half International Inc
Ross Stores Inc
Rowan Cos
Sanderson Farms Inc
SEI Investments Co
Sierra Pacific Resources
Skywest Inc
Sotheby's
St. Mary Land & Exploration
StanCorp Financial Group
Technitrol Inc
Temple-Inland Inc
Tempur-Pedic International Inc
Terra Industries Inc
Tidewater Inc
Titanium Metals Corp
Toro Co
Total System Services Inc
Trinity Industries Inc
Watsco Inc
Werner Enterprises
Williams-Sonoma Inc
Wolverine World Wide Inc
XL Capital Ltd
Zenith National Insurance Corp

Disclaimer:I, my family, or clients hold current positions in American Eagle Outfitters, Applied Industrial Technologies, Endurance Specialty Holdings, Graco, Harte-Hanks, HNI Corp., Hubbell, Manitowoc,Micrel,RLI, Ross Stores, and XL Capital.

2 Comments:

At 5:02 PM, Blogger hans said...

Tempur-Pedic? They have a debt/equity ratio of 6.5! And that's without substracting intangibles & goodwill. Tangible equity is a negative 180 million, according to the latest numbers on Google Finance.

On the large-cap list, I find companies like Garmin, which (although it's quite the growth stock) hardly has a long record of financial stability, only taking off a few years ago with the advent of PNDs.

These businesses aren't very Graham-like, which leads me to wonder about the method used to select them. On your other post, I see that they also use the forward PE measure, another ratio that Graham would never, ever use.

Are they just capitalizing on the name?

 
At 10:32 AM, Blogger Student Investor said...

Hi,

I just started blogging about my experiences on the path towards becoming a value investor.

you can click on my name, and go to my blog on my profile.

check it out!

thanks for posting this comment.

My greatest joy outside of my family is training young people to become better research analysts, portfolio managers and financial planners.

I might fit in there...

 

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