Each November, Canadian value investor Peter Cundill would find out which country has the worst performing stock market since the start of the year and then visit for a few weeks looking for cheap stocks.
I pilfered and altered Cundill’s idea. Each year around this time I find out the worst performing index and do an A to Z sweep, looking at every stock on their market.
Last year the loser was Greece, with its stockmarket falling 45.5% over the first 10 months of 2015. And then it fell further over November and December. I had a good look and found a few things of interest. But no investments came from it. Hopefully we’ll have more luck with this year’s hunt.
And this year’s loser? That’d be Greece again.
This might be getting interesting.
I’ll let you know if I find anything good. Unless it’s really good, then you’ll read about it in a future quarterly report.
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Forager Funds is a boutique fund manager specialising in a value investing approach. We offer an ASX listed Australian Shares Fund as well as an International Shares Fund both aimed at delivering returns for long term investors.