GrahamGrade
From the Blog
Longer reads on value investing, Benjamin Graham's methodology, and how to think about markets.
INGR still has a 22% margin of safety on the trailing numbers. It failed anyway — on a rule built specifically to stop a backward-looking valuation from waving through a forward-looking balance-sheet change it cannot see.
Read on GrahamGrade →Ingredion earned a PASS in our May screen. The all-cash acquisition of Tate & Lyle announced June 8 changed that. We are moving INGR to WATCH — the business is sound, but the conservative leverage that anchored the original pass is being dismantled on purpose.
Read on GrahamGrade →Current assets divided by current liabilities. Four seconds of arithmetic. Here is why Graham made it a prerequisite, where it breaks down, and how four names from the May 2026 screen — CCS, CALM, LKQ, and VICI — illustrate every edge case.
Read on GrahamGrade →FinVolution trades at a P/E of 3.7 and half of book value. Weibo sits at 0.52x book. Both failed the screen. Here's why a cheap multiple attached to assets you can't legally claim isn't a margin of safety.
Read on GrahamGrade →Graham's 7-criteria framework that shaped Buffett's entire investment philosophy — applied to 5,875 stocks in the May 2026 screen. Only 2 passed.
Read on GrahamGrade →5,875 tickers. Two clean passes: Century Communities (CCS) and Ingredion (INGR). Three WATCH names sharing a cyclical-peak trap, three automatic VIE rejections, and the acquisition that changed INGR's balance sheet three weeks after the screen ran.
Read on GrahamGrade →New articles are published here first, then cross-posted to Medium. View Medium profile →