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“If our efforts can further the goals of our members by giving them a discernible edge
over other market participants, we have succeeded.”
Top Ideas In This Report ► Five takes on U.S. equity market valuation
► Cheapest 20 DJIA components profiled and analyzed
(Nasdaq: …………………
► Proprietary selection of Top Three investment candidates
(NYSE: ……………………...
► Plus: Superinvestor holdings update
(NYSE: ……………………... ► Plus: Favorite stock screens for value investors
Also Inside ► Plus: Exclusive insights from VALUEx participants
Editorial Commentary ………………. 5
MOI Performance Review ………….. 9 Companies mentioned in this issue include
Superinvestor Update ………………12 3M, Abbott Labs, Alcoa, Amazon.com, America Movil, American Express,
Five Takes on Market Valuation ….. 13 Anglo American, Anheuser-Busch, Apple, AstraZeneca, AT&T,
Browsing for Large-Cap Ideas …… 18 Australia and NZ, Banco Bradesco, Banco Santander, Bank of America,
Cheapest 20 DJIA Components …… 30 Bank of Nova Scotia, Barclays, BASF, Bayer, Berkshire Hathaway,
BHP Billiton, BP, British Am. Tobacco, Canon, Caterpillar, Chevron,
Exclusive VALUEx Insights ………..110
China Life Insurance, China Mobile, China Telecom, Cisco Systems,
Favorite Value Screens ……………171
Citigroup, CNOOC, Co. Bebidas Americas, Coca-Cola, Comcast,
This Month’s Top Web Links …….. 179 ConocoPhillips, Daimler, Ecopetrol, Eni, Exxon Mobil, Ford Motor,
General Electric, GlaxoSmithKline, Goldman Sachs, Google,
About The Manual of Ideas Hewlett-Packard, Home Depot, Honda, HSBC, IBM, Intel, Itau Unibanco,
Our goal is to bring you investment Johnson & Johnson, JPMorgan Chase, Kraft Foods, McDonald’s, Merck,
ideas that are compelling on the Microsoft, Mitsubishi UFJ, Novartis, Novo Nordisk, NTT, NTT DoCoMo,
basis of value versus price. In our
Occidental Petroleum, Oracle, PepsiCo, PetroChina, Petroleo Brasileiro,
quest for value, we analyze the top
holdings of top fund managers. We Pfizer, Philip Morris, Procter & Gamble, Qualcomm, Roche,
also use a proprietary methodology Royal Bank of Canada, Royal Dutch Shell, SAP, Schlumberger, Siemens,
to identify stocks that are not widely
followed by institutional investors.
Sinopec, StatoilHydro, Suncor Energy, Taiwan Semiconductor, Telefonica,
Our research team has extensive The Travelers Companies, TOTAL, Toyota, UBS, Unilever, United
experience in industry and security Technologies, UPS, Vale, Verizon, Visa, Volkswagen, Wal-Mart,
analysis, equity valuation, and Walt Disney, Wells Fargo, Westpac Banking,, and more.
investment management. We bring a
“buy side” mindset to the idea
generation process, cutting across
industries and market capitalization (analyzed companies are underlined)
ranges in our search for compelling
equity investment opportunities.
Copyright Warning: It is a violation of federal copyright law to reproduce all or part of this publication for any purpose without the prior written consent of
BeyondProxy LLC. Email support@manualofideas.com if you wish to have multiple copies sent to you. © 2008-2011 by BeyondProxy LLC. All rights reserved.
Value-oriented Equity Investment Ideas for Sophisticated Investors
Table of Contents
EDITORIAL COMMENTARY ..........................................................................5
THE MANUAL OF IDEAS PERFORMANCE REVIEW ..................................9
SUPERINVESTOR HOLDINGS UPDATE ................................................... 12
VIEW FROM THE TOP: FIVE TAKES ON MARKET VALUATION ............ 13
TOBIN’S Q............................................................................................................................. 14
SHILLER’S TEN-YEAR TRAILING P/E ........................................................................................ 15
U.S. EQUITY MARKET CAPITALIZATION TO GDP....................................................................... 16
S&P EARNINGS YIELD VERSUS INTEREST RATES ..................................................................... 16
DOW JONES INDUSTRIALS IN TERMS OF GOLD ......................................................................... 17
© 2008-2011 by BeyondProxy LLC. All rights reserved. SUBSCRIBE TODAY! www.manualofideas.com January 31, 2011 – Page 3 of 182
Value-oriented Equity Investment Ideas for Sophisticated Investors
© 2008-2011 by BeyondProxy LLC. All rights reserved. SUBSCRIBE TODAY! www.manualofideas.com January 31, 2011 – Page 4 of 182
Value-oriented Equity Investment Ideas for Sophisticated Investors
No Investment Advice
This newsletter is not an offer to sell or the solicitation of
an offer to buy any security in any jurisdiction where such
an offer or solicitation would be illegal. This newsletter is
distributed for informational purposes only and should not
© 2008-2011 by BeyondProxy LLC. All rights reserved. SUBSCRIBE TODAY! www.manualofideas.com January 31, 2011 – Page 180 of 182
The Manual of Ideas research team is gratified to have won high praise for our
investment idea generation process and analytical work.
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