I ran a screen applying Graham's Investor criteria over the market and only 2 passed the full screen.
The two survivors:
$CCS (Century Communities): P/E 12.4, P/B 0.62, current ratio 12.09, margin of safety +30% vs Graham Price. Affordable housing builder, clean audit, no going-concern flags.
$INGR (Ingredion): P/E 10.3, P/B 1.54, current ratio 2.66, 29-year dividend streak, ROIC 15.5% vs 10% internal target. B2B ingredient solutions. Not exciting but consistently profitable.
A few things I found notable this month:
The homebuilders ($CSS, $KBH, $LEN, $MTH) all looked compelling on trailing P/E but their forward guidance implies margins collapsing. Trailing P/E becomes almost meaningless when earnings are in free fall (it's a trap!).
Three Chinese ADRs ($FINV, $WB, $TCOM) passed every quantitative screen with P/Es under 8 but got hard rejections. VIE structures are a hard pass for me. Investors don't legally own the underlying business, so you get zero asset protection.
Cal-Maine ($CALM) had a P/E of 5.3 driven by abnormal egg prices during the HPAI outbreak. Normalize for a typical egg-price environment and the P/E jumps to around 13x, which fails the threshold.
What are people seeing in their own screens this month?