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<<OK: Clearly, companies scoring 59 will tend to be better businesses than companies scoring 29 - but (?) does an 55 tend to outperform a 45 ? Over one month ? Over one year ? Over 5 or 10 years ? Should we use the numerical results as predictive quantitative indicators or qualitative discriminants (huh ? I mean does it make a difference if I get 52 or 47, or are only BIG differences of more than 10 or 15 or 20 points really relevent ?)>>

I haven't done much backtesting yet, but I have run a few scores for companies for more than one period. This has shown me that the scores can easily change by a few points from one quarter or year to the next. I wouldn't worry to much about a change from 52 to 47.

Thus, the difference between a given "Tier 1" company and another "Tier 2" company might be so slight as to be immaterial.

Al
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