Yes. Quite literally. Here’s a snap of the screened short candidates mailed out on Monday by Morgan Stanley’s European equity strategy team, headed by the hyper-active Teun Draaisma.
For what it’s worth, Abbot Group is the one stock to appear on three of the various quantitative metric screens employed round at Draaisma HQ. These include a Joel Greenblatt-inspired approach, one called the Reverse Intelligent Investor, inspired by Benjamin Graham, one called the “3 O’s Screen” – over-loved, over-owned and over-valued – a screen for “hype stocks running out of steam,” an “inter-sector hype” screen and, finally, the “anti-LBO screen.”
There are, of course, the usual MS disclaimers about how this investment advice might contradict that of individual sector analysts, who have a habit of looking at fundamental things when it comes to stock picking…