The Results of Graham-Inspired Investing Part 2

So those were the good ones.  The bad ones weren't all that bad:

CWH - Chartwell Technologies was bought out by Amaya Gaming in July 2011 for $ 0.875 per share plus 1/8th of share of Amaya.  Assuming the Amaya shares were kept, they last traded at $3.60, so that's another 45 cents, for a current valuation of $1.33, a 12% increase against 3% for the TSX.

AAH - Aastra Technologies took a beating in 2011, falling below $14/share, but has since recovered somewhat to $21.09.  That's an 8% decline against a 2% decline for the TSX.  If I factor in the dividends received though, the decline in Aastra shares is only 2%.  However, that's not quite a fair comparison to the index since the index does not include dividends.  Aastra's yield is higher than the index's, so the shortfall is somewhere between 0 and 6% -- probably around 4%

GDL - Goodfellow was sort of the mirror of Aastra, climbing through 2010/11 to a high of $12.50 before falling down to its current price of $8.36.  This represents a 15% decline for the stock since it was mentioned here vs. a 4% climb for the market.  Again, dividends offset this somewhat.  If those are factored in the loss is only 7%.  Still, a disappointment.

Overall, there were 4 winning stocks that beat the market, 2 by a very large margin, and 2 stocks that lagged, though not by a huge amount.  On average, each holding to today beat the market by 60% over an average period of 2.4 years.

Graham principles triumph again.