Value Line Investment Survey

Topics: Stock market, Stock, New York Stock Exchange Pages: 51 (15227 words) Published: May 20, 2013
Complete Overview

{The Value Line Investment Survey

© 2008, Officers, directors, employees and affiliates of Value Line, Inc. (“VLI”), and Value Line’s investment-management affiliate, EULAV Asset Management, LLC (“EULAV”), a wholly-owned subsidiary of Value Line, Inc., the parent company of Value Line Publishing, Inc. (“VLPI”), may hold stocks that are reviewed or recommended in this publication. EULAV also manages investment companies and other accounts that use the rankings and recommendations in this publication as part of their investment strategies. These accounts, as well as the officers, directors, employees and affiliates of VLI, may dispose of a security notwithstanding the fact that The Value Line Investment Survey (the “Survey”) ranks the issuer favorably; conversely, such accounts or persons may purchase or hold a security that is poorly ranked by the Survey. Some of the investment companies managed by EULAV only hold securities with a specified minimum Timeliness Rank by the Survey and dispose of those positions when the Timeliness Rank declines or is suspended. Subscribers to the Survey and its related publications as well as some institutional customers of VLPI will have access to the entire Value Line Investment Survey at 8:00 AM each Monday (or the next business day after a Monday when the New York Stock Exchange is closed). At the same time, portfolio managers for EULAV will receive reports providing Timeliness Ranking information. EULAV’s portfolio managers also may have access to publicly available information that may ultimately result in or influence a change in rankings or recommendations, such as earnings releases, changes in market value or disclosure of corporate transactions. The investment companies or accounts may trade upon such information prior to a change in ranking. While the rankings in the Survey are intended to be predictive of future relative performance of an issuer’s securities, the Survey is not intended to constitute a recommendation of any specific security. Any investment decision with respect to any issuer covered by the Survey should be made as part of a diversified portfolio of equity securities and in light of an investor’s particular investment objectives and circumstances.



GETTING STARTED Part 1 - Summary & Index Part 2 - Selection & Opinion Part 3 - Ratings & Reports

1 1 2 3





VALUE LINE'S RANKING SYSTEMS Timeliness Safety Technical Industry

6 6 7 7 7


UNDERSTANDING THE VALUE LINE PAGE Value Line Ranks Analyst’s Commentary Financial and Stock Price Projections Annual Rates Of Change Calculating Annual Rates of Change Historical Financial Data

8 8 9 9 10 11 11


THE VALUE LINE INDUSTRY REPORT Analytical Commentary Composite Statistics Industry Trends Company/Industry Comparisons Industry Timeliness Relative Strength Chart

12 12 12 13 13 13 13




HOW TO USE THE VALUE LINE INVESTMENT SURVEY The Value Line Investment Survey is a unique source of financial information designed to help investors make informed investment decisions that fit their individual goals and levels of risk. It is: (1) a proven forecaster of stock price performance over the next six to 12 months; (2) a source of interpretative analysis of approximately 1,700 individual stocks and approximately 100 industries; and (3) a source of historical information that helps investors spot trends. If you come across any unfamiliar terms as you read through this guide, please refer to the Glossary which is available on our website, order with the relative industry rank to the right of the industry name and the page number of the industry analysis in Ratings & Reports listed under PAGE. The market statistics are found in three boxes. The first box (a) has the...
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