Magic Formula Investing Stock Screener
The Fidelity Stock and Preferred Security Screeners Screeners are research tools provided to help self-directed investors evaluate stocks. I wanted to be able to deep dive but at a glance.
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Closed end funds CEFs are investment companies that invest in a variety of securities, much like conventional mutual funds.
However, unlike mutual funds, CEFs trade like a stock on an exchange at prices determined by supply and demand in the marketplace. Quickly search for closed end funds by asset class or customize your search with additional criteria to deliver a more manageable set of search results that you can easily navigate.
CEFs, in general, are known for their income-generating capabilities. This screen looks at all CEFs with taxable distributions. Income-seeking investors are often unaware that their income is being generated through heavy use of leverage within the CEF and, in their search for income, they overlook a CEF's total return. This screen filters out funds with high leverage use.
It also filters out ones that have a current distribution rate at net asset value that is below the median average or that is, in our opinion, unsustainably high. The goal is to find non-leveraged or smartly-leveraged CEFs with higher-than-average distribution rates that can be sustained. Closed end funds may trade at a discount or premium to their NAV and are subject to the market fluctuations of their underlying investments. Shares of closed end funds frequently trade at a market price that is a discount to their NAV.
Closed end funds are subject to management fees and other expenses. Shares of closed-end funds frequently trade at a market price that is a discount to their NAV. Before investing in any fund, you should consider its investment objective, risks, charges, and expenses. Contact Fidelity for the most recent shareholder report for this information. Please also review information provided by the fund on its web site. John Hussman uses to calculate market valuations. From this equation we can calculate the likely returns an investment in the stock market will generate over a given time period.
In the calculation, the time period we used was 8 years, which is about the length of a full economic cycle. The calculated results are shown in the final chart to the right. The thick bright yellow line in the bottom right chart is the actual annualized return of the stock market over 8 years. We can see the calculations largely predicted the trend in the returns of the stock market. It has been unfortunate for investors who entered the market after the late s.
Since that time, the market has nearly always been overvalued, only dropping to fairly valued since the declines that began in Based on these factors, Warren Buffett has made a few market calls in the past.
Warren Buffett Stock Picks 2. The stocks young Warren Buffett would buy 3. Under no circumstances does any information posted on GuruFocus.
The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein.
In no event shall GuruFocus. Past performance is a poor indicator of future performance. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated daily.
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