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FREE New Issue of 10x45 Bargain Hunter, Featuring 10 Essential Stock Screens For Value Investors

FREE New Issue of 10x45 Bargain Hunter, Featuring 10 Essential Stock Screens For Value Investors

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Published by The Manual of Ideas
We are pleased to make available for FREE the new issue of 10x45 Bargain Hunter, the bi-weekly stock screening report of The Manual of Ideas. 10x45 Bargain Hunter comprises 10 essential stock screens for value-oriented investors, with up to 45 results shown for each screen.
We are pleased to make available for FREE the new issue of 10x45 Bargain Hunter, the bi-weekly stock screening report of The Manual of Ideas. 10x45 Bargain Hunter comprises 10 essential stock screens for value-oriented investors, with up to 45 results shown for each screen.

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 10 
45 
 
ARGAIN 
UNTER 
 
Presented by the Research Team of
10 
45 
 
ARGAIN 
UNTER 
is published bi-weekly by BeyondProxy LLC, P.O. Box 1375, New York, NY 10150. Website: www.manualofideas.com. Email: support@manualofideas.com. Pleaseemail or call if you have any subscription questions. Managing Editor: John Mihaljevic. Subscription $99 per year. © Copyright 2009 by BeyondProxy LLC. All rights reserved. Photocopying,reproduction, quotation, or redistribution of any kind is strictly prohibited without written permission from the publisher. This newsletter bases screening results on techniques and sourcesbelieved to be reliable in the past and cannot guarantee future accuracy and results. The stocks listed in this newsletter should not be construed as investment recommendations.BeyondProxy’s officers, directors, employees and/or principals (collectively “Related Persons”) may have positions in and may, from time to time, make purchases or sales of the securities orother investments listed or discussed in this newsletter. John Mihaljevic, Chairman of BeyondProxy, is also a principal of Mihaljevic Capital Management LLC (“MCM”), which serves as thegeneral partner of a private investment partnership. MCM may purchase or sell securities and financial instruments discussed in this newsletter at any time on behalf of the investmentpartnership or other accounts it manages. Use of this newsletter and its content is governed by the Terms of Use described in detail at www.manualofideas.com/terms.html. Pictured in thetop left corner is the Zeiss 10x45 Victory Binocular with built-in laser rangefinder.
“The critical investment factor is determining the intrinsic value of a business and paying a fair or bargain price.” —Warren Buffett
November 1, 2009
Presented by the
Manual of Ideas 
Research Team
 
Dear Fellow Idea Seekers,
We are pleased to bring you thislatest issue of
10x45 Bargain Hunter,
 our bi-weekly stock screening report.This report is based on market pricesas of October 30
th
.Sincerely,
Your Manual of Ideas Team 
Special Offer
Get
10x45 Bargain Hunter 
FREEwith your subscription to theacclaimed monthly newsletter,
Downside Protection Report.
 
of
Downside Protection Report! 
 
 
www.manualofideas.com
About This Publication
10x45 Bargain Hunter 
is a bi-weeklyscreening service for investorslooking to uncover hidden value inthe stock market.
Bargain Hunter 
isbrought to you by the acclaimedManual of Ideas research team.Inspired by the Zeiss 10x45 VictoryRangefinding Binocular ("essentialequipment for long range hunting anda reliable shot"), the
10x45 Bargain Hunter 
is designed as an essentialtool for every value investor’sarsenal. Whether you run your ownscreens or not, we hope you'll find
10x45 Bargain Hunter 
a valuable allyas you seek out undervaluedcompanies trading in U.S. markets.
Top Three Screen Results, by Category
 
Company Ticker PriceMarketValueEnterpriseValue
"Magic Formula," based on Trailing Financials 
Trailing EBIT / EV
1 KHD Humboldt Wedag KHD $9.16 $277mn -$72mn infinite2 GT Solar SOLR $5.25 $753mn $592mn 26%3 ePlus PLUS $15.04 $124mn $96mn 26%
 
"Magic Formula," based on This Year's EPS Estimates 
EPS Yield FY0
1 EarthLink ELNK $8.10 $860mn $485mn 13%2 Pre-Paid Legal PPD $39.54 $434mn $442mn 14%3 PRG-Schultz PRGX $5.18 $120mn $109mn 11%
"Magic Formula," based on Next Year's EPS Estimates 
EPS Yield FY1
1 GigaMedia GIGM $4.10 $224mn $141mn 16%2 Net1 UEPS UEPS $17.49 $792mn $575mn 12%3 Centene CNC $17.83 $810mn $652mn 12%
Contrarian: Shunned by the market, but not by insiders 
Insider Buys
1 * Genomic Health GHDX $18.57 $530mn $475mn $4,550mn2 * Western Refining WNR $5.61 $498mn $1,502mn $2,491mn3 * Preferred Bank PFBC $2.53 $25mn n/m $2,338mn
Contrarian: Biggest Losers (deleveraged & profitable)
Price YTD
1 Cardionet BEAT $5.91 $141mn $96mn -76%2 Questcor Pharma QCOR $4.54 $291mn $221mn -51%3 Emergent BioSolution EBS $14.42 $439mn $392mn -45%
Value with Catalyst: Cheap Repurchasers of Stock 
Shares Q-Q
1 LaBranche LAB $2.76 $148mn n/m -7%2 Banco Macro BMA $29.23 $1,778mn n/m -7%3 * Hawk HWK $13.92 $112mn $120mn -6%
Profitable Dividend Payors with Decent Balance Sheets 
Div. Yield
1 * Calumet Specialty CLMT $15.92 $513mn $954mn 11%2 Integrys Energy TEG $34.60 $2,644mn $2,337mn 8%3 * Plains All American PAA $47.83 $6,167mn $10,581mn 8%
Deep Value: Lots of Revenue, Low Enterprise Value 
EV/Revenue
1 Tech Data TECD $38.43 $1,932mn $1,242mn .06x2 Winn-Dixie Stores WINN $11.09 $608mn $484mn .07x3 Ingram Micro IM $17.65 $2,878mn $2,084mn .07x
Deep Value: Neglected Gross Profiteers 
EV/GP
1 Molina Healthcare MOH $18.72 $478mn $16mn .03x2 WellCare Health WCG $26.13 $1,103mn $162mn .16x3 Kindred Healthcare KND $14.70 $574mn $652mn .17x
Activist Targets: Potential Sales, Liquidations or Recaps 
NCAV / MV
1 QLT QLTI $3.49 $191mn -$3mn 138%2 Myriad Pharma MYRX $5.52 $133mn -$36mn 124%3 Imation IMN $8.82 $336mn $225mn 119%
 
 
 © BeyondProxy LLC
10x45 Bargain Hunter™ 
www.manualofideas.com November 1, 2009 Page 2
 
"Magic Formula," based on Trailing Financials
Companies with high returns on capital employed, trading at high trailing EBIT-to-enterprise value yield
 
 
Move To Trailing EBIT/ Price/ InsidersPrice 52-Week MV EV EV/ EBIT/ Capital Tax Tangible % Buys/Company Ticker ($) Low High ($mn) ($mn) Sales EV Employed Rate Book Own. Sells
1 KHD Humboldt WedagKHD9.16-29% 101% 277 (72) n/m
infinite infinite
n/m 1.1x 22% - / -2 GT Solar SOLR5.25-83% 72% 753 592 1.1x
26% infinite
38% >9.9x 78% - / 123 ePlusPLUS15.04-48% 13% 124 96 .1x
26% infinite
42% .8x 44% - / 164 GigaMediaGIGM4.10-36% 89% 224 141 .8x
22% infinite
3% 1.9x 21% - / 35 PRG-SchultzPRGX5.18-52% 35% 120 109 .6x
22% 6971%
17% >9.9x 20% 3 / -6 EarthLinkELNK8.10-32% 10% 860 485 .6x
29% 396%
n/m 2.1x 9% - / 127 PDL BioPharmaPDLI8.41-38% 11% 1,005 1,268 3.9x
23% 768%
22% n/m 1% 1 / -8 CenteneCNC17.83-16% 26% 810 652 .2x
21% infinite
36% 2.4x 2% - / -9 Cass InformationCASS29.73-22% 22% 274 196 4.5x
19% infinite
27% 2.5x 7% - / 610 Chicago BridgeCBI18.81-75% 14% 1,871 1,822 .4x
18% infinite
39% n/m 2% - / -11 Foster Wheeler FWLT27.99-55% 28% 3,541 2,903 .5x
17% infinite
12% 7.0x 0% - / 112 USA MobilityUSMO10.90-22% 29% 247 151 .5x
42% 178%
n/m 1.5x 1% - / 613 MaxygenMAXY5.58-31% 70% 214 11 .1x
546% 162%
n/m 1.1x 21% - / 114 ArganAGX12.35-32% 30% 168 118 .5x
16% infinite
39% 2.6x 29% 2 / 3315 Virgin Mobile USAVM4.00-85% 33% 269 499 .4x
16% infinite
4% n/m 4% - / 716 CornerstoneCRTX5.60-69% 119% 139 126 1.3x
16% infinite
26% >9.9x 88% - / 1917 Net1 UEPSUEPS17.49-53% 28% 792 575 2.3x
16% 8895%
33% 4.4x 16% - / 1018 Pre-Paid LegalPPD39.54-33% 34% 434 442 1.0x
21% 214%
38% 8.4x 33% - / -19 EMCOR GroupEME23.62-53% 12% 1,556 1,232 .2x
26% 158%
39% 6.0x 2% 1 / 320 KBRKBR20.47-52% 21% 3,284 2,207 .2x
26% 158%
38% 2.3x 1% - / 321 Gentiva HealthGTIV24.00-46% 25% 699 832 .7x
26% 156%
17% n/m 10% - / 1122 Primoris ServicesPRIM7.33-56% 11% 238 196 .4x
20% 195%
29% 3.7x 66% 3 / -23 Questcor PharmaQCOR4.54-32% 116% 291 221 2.2x
27% 151%
30% 4.0x 7% - / 424 Hawaiian HoldingsHA7.09-69% 29% 365 322 .3x
40% 140%
21% n/m 4% 1 / 225 * AmedisysAMED39.79-37% 49% 1,113 1,291 .9x
17% 238%
39% n/m 2% - / 1326 Lihua InternationalLIWA6.99-34% 53% 166 156 1.3x
17% 205%
15% 3.8x 90% 2 / -27 AmSurgAMSG21.07-42% 22% 646 854 1.3x
26% 135%
19% n/m 2% - / 628 * China-BioticsCHBT11.60-53% 64% 198 140 2.4x
17% 203%
20% 2.8x 49% - / 129 ICO Global CommsICOG0.78-74% 379% 162 169 n/m
132% 113%
2% n/m 45% - / -30 Lockheed MartinLMT68.79-17% 27% 26,194 27,290 .6x
17% 189%
29% n/m 0% - / -31 UGI Corp.UGI23.88-11% 15% 2,589 4,657 .8x
15% 331%
30% n/m 1% 1 / 1332 China Sky OneCSKI11.87-35% 61% 198 150 1.3x
28% 114%
21% 2.0x 36% - / -33 Wright ExpressWXS27.91-71% 15% 1,064 1,224 3.9x
21% 132%
38% >9.9x 1% - / 1434 EnergenEGN43.88-48% 11% 3,147 3,778 2.5x
13% infinite
37% 1.6x 1% 1 / 735 H&R BlockHRB18.34-25% 27% 6,150 6,282 1.5x
13% infinite
39% n/m 4% 1 / -36 DellDELL14.45-46% 19% 28,259 19,704 .4x
13% infinite
27% >9.9x 12% - / 337 LorillardLO77.72-32% 5% 12,513 11,750 2.4x
13% infinite
38% >9.9x 1% - / 238 i2 TechnologiesITWO15.74-65% 12% 353 286 1.2x
13% infinite
16% >9.9x 26% - / 239 Digital River DRIV22.83-26% 80% 881 539 1.4x
13% infinite
25% 2.5x 2% - / 440 * Sohu.comSOHU55.60-39% 30% 2,131 1,535 3.1x
13% 2768%
8% 3.9x 22% - / 441 * MirantMIR13.98-35% 45% 2,029 2,751 .6x
105% 93%
n/m .5x 0% - / -42 * China EducationCEU5.16-84% 26% 119 91 2.8x
15% 216%
7% 3.3x 58% - / -43 * j2 Global CommsJCOM20.45-36% 23% 922 729 3.0x
13% 1673%
31% 5.4x 4% - / 1544 McGraw-HillMHP28.78-40% 18% 9,063 9,303 1.6x
13% 1326%
37% n/m 2% - / -45 * RaytheonRTN45.28-27% 17% 17,632 17,483 .7x
17% 137%
32% n/m 0% - / 11* New additions are highlighted.
Screening criteria:
Market value > $100 million
► ADRs and banks excluded
 New additions are highlighted. MV = market value. EV = enterprise value. Number of insider transactions relates to most recent six-month period.
Click on company name, ticker or stock price for more information! 
 
 
 © BeyondProxy LLC
10x45 Bargain Hunter™ 
www.manualofideas.com November 1, 2009 Page 3
 
"Magic Formula," based on This Year's EPS Estimates
Companies with high returns on capital employed, trading at high earnings yields (based on this FY EPS estimates)
 
 
Move To This FY EBIT/ Price to InsidersPrice 52-Week MV EV EV/ EPS Capital Tax Tangible % Buys/Company Ticker ($) Low High ($mn) ($mn) Sales Yield Employed Rate Book Own. Sells
1 EarthLinkELNK8.10-32% 10% 860 485 .6x
13% 396%
n/m 2.1x 9% - / 122 Pre-Paid LegalPPD39.54-33% 34% 434 442 1.0x
14% 214%
38% 8.4x 33% - / -3 PRG-SchultzPRGX5.18-52% 35% 120 109 .6x
11% 6971%
17% >9.9x 20% 3 / -4 GigaMediaGIGM4.10-36% 89% 224 141 .8x
11% infinite
3% 1.9x 21% - / 35 Endo PharmaENDP22.40-30% 17% 2,625 2,539 1.8x
12% 247%
39% >9.9x 2% 1 / -6 CenteneCNC17.83-16% 26% 810 652 .2x
11% infinite
36% 2.4x 2% - / -7 China Sky OneCSKI11.87-35% 61% 198 150 1.3x
19% 114%
21% 2.0x 36% - / -8 Net1 UEPSUEPS17.49-53% 28% 792 575 2.3x
10% 8895%
33% 4.4x 16% - / 109 Foster Wheeler FWLT27.99-55% 28% 3,541 2,903 .5x
10% infinite
12% 7.0x 0% - / 110 CornerstoneCRTX5.60-69% 119% 139 126 1.3x
10% infinite
26% >9.9x 88% - / 1911 MirantMIR13.98-35% 45% 2,029 2,751 .6x
22% 93%
n/m .5x 0% - / -12 GT Solar SOLR5.25-83% 72% 753 592 1.1x
10% infinite
38% >9.9x 78% - / 1213 Questcor PharmaQCOR4.54-32% 116% 291 221 2.2x
11% 151%
30% 4.0x 7% - / 414 * China-BioticsCHBT11.60-53% 64% 198 140 2.4x
10% 203%
20% 2.8x 49% - / 115 * Apollo GroupAPOL57.10-3% 58% 8,841 8,462 2.1x
9% 461%
43% >9.9x 17% - / 1916 j2 Global CommsJCOM20.45-36% 23% 922 729 3.0x
9% 1673%
31% 5.4x 4% - / 1517 America's Car-MartCRMT20.73-67% 24% 243 274 .9x
10% 181%
36% 1.5x 13% - / 1918 InnophosIPHS19.35-61% 42% 412 564 .7x
15% 74%
23% 2.2x 17% - / 819 ContinucareCNU2.62-42% 26% 156 142 .5x
10% 121%
39% 4.8x 46% - / -20 EMCOR GroupEME23.62-53% 12% 1,556 1,232 .2x
9% 158%
39% 6.0x 2% 1 / 321 CytokineticsCYTK3.19-56% 74% 194 72 .9x
13% 74%
n/m 1.7x 24% 1 / 2422 CF IndustriesCF83.25-53% 14% 8,307 7,390 2.3x
10% 117%
36% 5.1x 52% - / -23 GameStopGME24.29-30% 35% 4,000 4,298 .5x
10% 97%
37% >9.9x 5% 2 / 424 * ITT EducationalESI90.35-22% 48% 3,338 3,213 2.6x
9% 258%
39% >9.9x 0% - / 125 American OrientalAOB3.96-17% 93% 310 335 1.2x
16% 57%
21% 1.8x 21% - / -26 EnergenEGN43.88-48% 11% 3,147 3,778 2.5x
8% infinite
37% 1.6x 1% 1 / 727 DPLDPL25.34-27% 5% 3,035 4,487 2.8x
8% 218%
29% 2.9x 1% 1 / -28 * Sturm, Ruger & Co.RGR10.62-59% 43% 203 150 .6x
14% 58%
38% 2.3x 1% 1 / 129 APAC Customer APAC6.45-85% 9% 334 324 1.2x
10% 89%
1% 8.2x 39% - / 7430 SinoHubSIHI4.95-65% 15% 122 124 1.2x
11% 71%
22% 4.2x 30% - / -31 Digital River DRIV22.83-26% 80% 881 539 1.4x
8% infinite
25% 2.5x 2% - / 432 CSG SystemsCSGS16.34-25% 9% 574 594 1.2x
10% 77%
34% >9.9x 2% - / 533 * Dresser-Rand GroupDRC29.47-60% 12% 2,432 2,604 1.1x
9% 126%
33% >9.9x 1% - / -34 * KBRKBR20.47-52% 21% 3,284 2,207 .2x
8% 158%
38% 2.3x 1% - / 335 Bristol Myers SquibbBMY21.80-21% 10% 43,185 43,109 2.0x
9% 93%
26% 6.8x 0% 2 / 236 SynopsysSNPS22.02-37% 7% 3,209 2,127 1.5x
8% 335%
24% 4.4x 1% - / 1237 BuckleBKE30.01-55% 30% 1,389 1,226 1.4x
9% 100%
37% 3.7x 43% - / 838 Suburban PropaneSPH43.02-42% 8% 1,411 1,679 1.3x
12% 55%
1% >9.9x 6% - / 139 Pioneer SouthwestPSE21.20-53% 7% 636 573 4.0x
11% 57%
1% 2.6x 69% - / 140 Allegiant TravelALGT37.71-15% 53% 753 586 1.1x
10% 65%
36% 2.8x 23% - / 1541 VSEVSEC43.79-55% 12% 225 227 .2x
10% 69%
39% 3.9x 22% 3 / 242 * AeropostaleARO37.53-67% 20% 2,521 2,276 1.1x
8% 105%
40% 5.9x 1% - / 643 * Fluor FLR44.42-36% 32% 7,990 6,020 .3x
9% 88%
33% 2.7x 0% - / 1244 Hewlett-PackardHPQ47.46-47% 4% 112,531 116,124 1.0x
8% 139%
19% >9.9x 1% 1 / 2645 LorillardLO77.72-32% 5% 12,513 11,750 2.4x
7% infinite
38% >9.9x 1% - / 2* New additions are highlighted.
Screening criteria:
► Market value > $100 million ► ADRs and banks excluded
 
Enterprise value to market value < 1.5New additions are highlighted. MV = market value. EV = enterprise value. Number of insider transactions relates to most recent six-month period.

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