value investing - Ceta Research (Page 8)

Growth of $10,000 invested in DCF Discount strategy vs S&P 500, 2000-2025

value investing

DCF Discount on US Stocks: 7.91% CAGR Over 25 Years, Narrowly Beating the S&P 500

We screened every US stock for discount to intrinsic value using a Gordon Growth Model and backtested from 2000 to 2025. The strategy returned 7.91% CAGR vs 7.33% for SPY, +0.58% annual excess. A thin edge with deeper drawdowns and worse risk-adjusted returns than the index.

Growth of $10,000 invested in Magic Formula India (NSE) vs Sensex from 2000 to 2025.

value investing

Magic Formula on Indian Stocks: 17.1% CAGR Over 25 Years of NSE Data

We backtested Greenblatt's Magic Formula on NSE stocks from 2000 to 2025. The strategy returned 17.14% annually vs 11.12% for the Sensex. $10,000 became $587K. Both returns in INR, so the 6.0% excess is a clean same-currency comparison.

Growth of $10,000 invested in Magic Formula Indonesia (JKT) vs S&P 500 from 2000 to 2025.

value investing

Magic Formula on Indonesian Stocks: What the Data Actually Shows

We backtested Greenblatt's Magic Formula on the Jakarta Stock Exchange from 2000 to 2025. With a proper IDR 5T market cap threshold (~$310M USD), the strategy returned 7.71% annually, roughly matching SPY. An earlier analysis using IDR 1B (~$65K USD) showed 19.58% CAGR, but that was micro-cap noise.

Magic Formula CAGR by exchange from 2000 to 2025. India leads at 17.14%, followed by US at 9.26%. Results benchmarked against local market indices.

value investing

One Formula, 16 Exchanges: The Magic Formula Beats Local Benchmarks in Most Markets

We ran the same two-factor ranking system on 20 global exchanges with local benchmarks. 13 of 20 exchanges beat their local index. India led at +13.12% vs Sensex, Brazil at +10.72% vs Bovespa, UK at +8.02% vs FTSE 100. Sweden (+4.96% vs OMX), Germany, Japan, Hong Kong, Taiwan, and Korea all show...

Growth of $10,000 invested in Magic Formula US vs S&P 500 from 2000 to 2025.

value investing

Greenblatt's Magic Formula: 25 Years of US Stock Data

We backtested Greenblatt's Magic Formula on all US exchanges from 2000 to 2025 with next-day execution. The strategy returned 9.26% annually vs 8.02% for the S&P 500. Most of the alpha came from 2000-2013.

Growth of $10,000 invested in Magic Formula Brazil (SAO) vs Bovespa from 2000 to 2025.

value investing

Magic Formula on Brazilian Stocks: 19.67% CAGR Over 25 Years of B3 Data

The Magic Formula returned 19.67% annually on B3-listed Brazilian stocks from 2000 to 2025. That's 10.72% annual excess return over the Bovespa. Only 1 cash period out of 103.

Growth of $10,000 invested in Dogs of the Dow vs S&P 500 from 2000 to 2025. Dogs grew to $114K, S&P 500 to $63K.

dividend investing

Dogs of the Dow: 25 Years of Data on the Simplest Stock Strategy

Buy the 10 highest-yielding Dow stocks every January. Hold for a year. Repeat. We tested 25 years of data. Dogs returned 10.2% vs 7.6% for the S&P 500. The real story is risk: Sharpe of 0.693 vs 0.322, max drawdown of -19.7% vs -34.9%.

Low P/E CAGR comparison across 12 global exchanges. BSE leads at 16.9%, HKSE at 14.4%, US combined at 13.9%.

value investing

Low P/E Screen Across 12 Global Exchanges: Where Value Investing Works Best

Same low P/E screen, 12 exchanges. BSE 16.9% CAGR. LSE 13.6%. HKSE 14.4%. US 13.9%. UK went from zero data to +12.2% vs FTSE 100. Local benchmarks change the story.

Growth of $10,000 invested in Low P/E Hong Kong (HKSE) vs Hang Seng Index from 2000 to 2025.

value investing

Low P/E on Hong Kong Stocks: 14.4% CAGR Over 25 Years of HKSE Data

Low P/E with quality filters returned 14.4% annually on HKSE-listed stocks from 2000-2025. That's +12.6% over the Hang Seng Index (1.8% CAGR). The catch: 38.5% volatility, -59% max drawdown, and a 2024-2025 spike that needs an asterisk.

Growth of $10,000 invested in Low P/E India (BSE and NSE) vs Sensex from 2000 to 2025.

value investing

Low P/E on Indian Stocks: 16.9% CAGR on BSE, 13.7% on NSE Over 25 Years

Low P/E with quality filters returned 16.9% CAGR on BSE and 13.7% on NSE over 25 years, beating the Sensex by +5.8% and +2.6% respectively. Max drawdown hit -67%.

Growth of £10,000 invested in Low P/E UK (LSE) vs FTSE 100 from 2000 to 2025.

value investing

Low P/E on UK Stocks: 13.6% CAGR Over 25 Years of LSE Data

Low P/E with quality filters returned 13.6% annually on LSE-listed stocks from 2000-2025. That's +12.2% over the FTSE 100 (1.4% CAGR). Highest quarterly win rate (67%) and best Sharpe (0.370) of any exchange tested. Max drawdown -43.1%.

Growth of $10,000 invested in low P/E screen vs S&P 500 from 2000 to 2025 on US exchanges.

value investing

How to Screen for Undervalued Stocks Using P/E Ratio (With SQL)

We backtested a low P/E value screen with quality filters across 25 years of US stock data (NYSE, NASDAQ, AMEX). 13.9% CAGR vs 8.0% for the S&P 500, with significant sector concentration in financials and energy.