- I have updated the QAV Master Spreadsheet to change the Vlookup function to have an additional parameter which returns a #NA result if there is not an exact match in the lookup table.
- This change was thanks to Brett who spotted that the current Vlookup formula was returning approximate matches. IE, if the lookup did not find an exact match it might return the nearest match.
- The new Vlookup formula looks like this:
- =VLOOKUP(A13,‘Manually entered scores’!$A$13:$D$714,3,FALSE)
- The word FALSE is added to the end of the formula and returns the #NA result if there is not an exact match.
- Vlookup formulas are found in columns BN, BP, BQ, BW, BX, CA, CH, and CP.
- Note, that if the Vlookup returns a zero, it means that there was no data entered into the manually entered data tab for that company. EG Vlookup checking for the sentiment for AEG returns a zero until Yes or No is added into the appropriate column in the manually entered data tab for AEG.
- Note, that when a sort is done in the Buy List tab of the spreadsheet, the companies that are not found on the Manually entered datasheet will return a #NA for qualified audit and will appear first in the sort. I skip over these and start the Buy list at row 77 where the data starts for qualified audits.
- The following companies were downloaded today and do not appear in the Manually Entered Data tab and so I have inserted them alphabetically: IGN, CWL, PPL, KPT, CLT, PAXX, 8VI
- Cellnet Group (CLT) was added to the Buy list with a QAV score of 0.29, however, it is a very small company and it’s 3PTL is flirting with a sell and may well be a falling knife.
- The Absolute Equity Performance Fund (AEG) was added to the Buy list with a QAV score of 0.25. Note that there is a proposal before the Board of the company to merge this fund with another unlisted fund run by Bennelong so the fund may not remain listed. This is an interesting fund which adopts a strategy called pairs trading where the manager goes long on 1 stock and shorts another that they think is linked but will go down. EG, if the oil price is rising, buy Woodside and short Qantas, or if a payer in an industry is seen to be doing better, eg Buy Woolworths and short Coles.
- The Platinum Asia Fund (Quoted Managed Hedge Fund) (PAXX) has been added to the Buy list with a QAV score of 0.14. Note that it’s share price has just become a buy but has retraced a little this month.
- Quantum Health Group (QTM) is added as a Buy with a QAV score of 0.18. It is a small company with an average daily trade amount of $6,800.
- 8VI Holdings (8VI) is added as a Buy with a QAV score of 0.14. There are a few things to note about this, however: The figures are from March 2020, so we have not seen recent results. The 5 year monthly share graph is in steep decline with a flattening out over the last few years, so I used the 3 year graph to get a better view of sentiment. Also, this is a small company with only $273 traded on average each day.