P/CF Ranking

Buys stocks that are cheap relative to the cash their business brings in: operating cash flow over the last four quarters has to be positive, and market cap may be no more than ten times that amount — the price-to-cash-flow ratio (P/CF). Cash flow shows what actually flows into the till and is harder to dress up than reported earnings; the cheapest names rank first. Only shares our own deep-dive analysis rates green are bought — yellow or no analysis at all is not enough. New positions are added four times a year; a share is sold as soon as it no longer meets the criteria or is no longer rated green.

This portfolio buys shares.