Author: mungofitch

Subject: Re: A simple industry screen

Date: 1/2/2021

Recommendations: 5

From 2011 to August this year, an equally weighted portfolio of those two industries has beat the S&P 500 by a quite remarkable 4.7%/year before friction. It beat the S&P in all of the individual calendar years 2012-2019, and year to date. Re the "medical devices" / "high cash per share" 40 stock screen. FWIW, first four months out of sample 40 stock screen +28.8% not annualized SPY +11.3% no annualized Not statistically significant, but at least it`s absence of evidence of terribleness : ) Jim In case anybody is interested in what kind of things it`s buying, these are the December picks and their returns to year end. (using the VL data set released morning Dec 7, buy at close Dec 7, return to close Dec 31) ABC -1.7% ABMD 19.2% ADPT 10.9% ANGO 2.2% AVNS -0.6% BAX 3.2% BIO 4.0% CAH -2.4% CMD 28.0% CRY 5.0% CUTR 5.7% DXCM 9.6% EW 6.0% GKOS 9.3% GMED 8.7% HAE 2.9% HOLX -0.5% HRC 1.5% IART 18.0% ICUI 9.1% ILMN 7.9% INGN 14.6% ISRG 7.0% IVC -4.0% JNJ 5.6% MASI 0.3% MCK -2.4% MDT 4.5% NEOG 2.7% NTUS 0.0% NUVA 20.8% NVRO 6.5% NVST 6.5% SILK 6.3% SRDX 8.9% SYK 3.8% TNDM 5.3% VAR 0.2% VIVO -0.5% XRAY -2.1%