My algorithms calculate money flow by subtracting the value of trades made on a downtick from the value of trades made on an uptick.
The figures from the Tokyo Stock Exchange show that individuals accounted for 36% of the total value of trades in Japan's major stock markets, down from 39% the week before.
In addition, stock prices of the big Chinese banks are relatively cheap: Bank of China trades at 1.4 times forward book value, and Agricultural Bank of China trades at 1.6 book value for fiscal year 2011, even though Bank of China is considered a better-run bank.
As in other global exchanges, high-frequency trading has grown in importance and now constitutes 40% of the value of all trades on the Tokyo market, according to exchange figures, up from 20% in mid-2010.
Analysts at Oppenheimer see value in buying shares of Citigroup at these levels as the stock currently trades below tangible book value.
One of his top picks, ST Microelectronics, would make most value investors cringe: It trades at 56 times 2000 estimated earnings and more than six times sales.
Hewitt listed the stock's value as established by recent trades.
But if their trades are really producing value, it would behoove them to pay.
Daimler trades at accounting book value and for just 0.39 times sales.
On a price to tangible book value, BAC stacks up well against its competition on a valuation basis, and trades at a bigger discount to tangible book value than all but Citibank.
Tronox trades for less than book value, and at a 45% discount to its five-year average price-to-book value ratio.
FORBES: Pigment Stock Sports Fat Yield And Discounted Valuations
Nokia still trades way below its salvage value.
FORBES: Nokia, Is It Sentiment Manipulation or Grassroots Love?
The value investing crowd has its origins in the 1934 text Security Analysis by Benjamin Graham and David Dodd and has been further developed by Warren Buffett, a past student of Graham who has also preached that a security eventually trades up to its intrinsic value.
Even so, it trades at 10% below book value and has a trailing price-to-earnings ratio of 10, which is a big discount to the industry average of 16.
Penney has some tough sledding ahead, but that it was the only stock in his portfolio that could return 15 times his investment because it trades at a discount to the value of its real estate and inventory.
FORBES: Warning Sign For P&G Chief? Ackman Can't Wait To Meet Him
Also on Buckingham's buy list: low-end jewelry retailer Friedman's (nasdaq: FRDM - news - people ), which trades for about half of book value, and teen retailer Gadzooks (nasdaq: GADZ - news - people ).
Also, the company trades at 1.1 times book value, a discount to such competition as A.G.
The firm trades at 20% below its book value, compared with 25% above for Goldman.
Community Health may see it as a value buy, especially since the formerly troubled chain trades at tiny multiple.
FORBES: Community Health Systems Makes Hostile $7.3 Billion Bid For Tenet
We will assume that the bank trades at a modest premium to book value on the stock market, of 1.5x book.
FORBES: A Debt/Equity Swap To Recapitalize European Banks: A Real World Example
Bank of America's stock price is up 47% in the last year but the stock still trades at about 60% of book value.
Its benchmark government bond trades at 57% of its face value, suggesting that private investors fear losses if and when a new deal is brokered.
Allstate trades at 1.9 times book value, compared with 3 times book for Progressive Corp. (nyse: PGR - news - people ), its closest publicly traded competitor.
The stock trades at approximately 60% of book value.
FORBES: Buybacks Unchained: Saddling Up For Bank Of America's Next Big Run
It usually trades at 1.6x its book value.
FORBES: Buffett Sets Floor For Berkshire, Shares Are Crazy Cheap
Bayer trades 32% below its break-up value, only 21 times Julius Baer's estimate of 2001 earnings.
He notes that the stock now trades at just 0.76x tangible book value.
Applied Materials trades at a 15% discount to the value of its current EVA, KLA-Tencor at a 29% discount, and Intel at a 10% discount.
FORBES: Intel, Applied Materials Among Top 5 Semiconductor Bargains
This same transparency, however, could pose a problem: The numbers make it clear that Loews' stock, despite its rise, trades at a discount to its likely breakup value (see table).
应用推荐