# Testing the Piotroski, Beneish, Altman, and O-Metric Scores



## db94 (1 March 2014)

So basically this is a log of how the Piotroski, Beneish, Altman and O-Metric Scores has faired up since the 22nd of November 2013 on the ASX.

For those who dont know what these are:

Piotroski F-Score: http://www.investopedia.com/terms/p/piotroski-score.asp
Beneish M-Score: http://www.investopedia.com/terms/b/beneishmodel.asp
Altman Z-Score: http://www.investopedia.com/terms/a/altman.asp
O-Metric Score: http://seekingalpha.com/article/910...core-to-find-cheap-stocks-with-high-potential

The screen was performed on the asxiq website. The selection criteria were that the stocks satisfy the following:

Piotroski F-Score: 8 or above
Beneish M-Score: -2.22 or less
Altman Z-Score: 2.9 or above

This resulted in 25 stocks on the ASX. Also calculated was the O-Metric for these stocks. Attached below is the results.

View attachment ASF stocks.xlsx


The aim was to place as close to $10,000 in each stock and leave it be. No stop loss was implemented due to the limited features of a simulated portfolio with CMC Markets. If a stop-loss had been implemented a lot of the stocks would not be still in play. Although I am concerned that there want much thought to risk management I was limited with a simulator, so I had no option.

At the close of the 22nd Nov 2013 the:

ASX200 was @ 5335.9
All Ords was @ 5330.3

Currently at the close of the 28th Feb: 

ASX200 is @ 5404.80
All Ords is @ 5415.40

Currently the portfolio has made $10,301 profit from $249,808.59. Thats a profit of 4.12%

View attachment stock test 28th feb.xls


ASX200 gain to date: 1.29%
All Ords gain to date: 1.60%

So far the portfolio has outperformed the Australian Market.

I'll continue to update this through time to time. Its more of a project for me looking into medium-long term investing and thought I'd share for those who wanted to know. I found these scores interesting as I stumbled upon them learning how to invest etc and thought I'd give it a crack. Please excuse my mistakes or short falls in the trading system I am beginner and still learning. Any questions, queries and concerns just post away

EDIT; I will have to chase up on CLO as I have just noticed there isnt a quote for it.


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## db94 (25 March 2014)

Update:

The portfolio is now 8.43% in the green

At the close of the 22nd Nov 2013 the:

ASX200 was @ 5335.9
All Ords was @ 5330.3

At the close of 25th March 2014:

ASX200: 5346.90 (0.206%)
All Ords: 5362.10 (0.597%)

That means it has outperformed the ASX200 by just over 14 times and All Ords by over 40 times


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