White Papers from Wenzel Analytics

   Lee Wenzel

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Approaches for Picking Individual Stocks, Screening for a Group of Stocks, or Selecting Factor-Based Indexs of Many Stocks

       May 25, 2017   Stock Selection - Rifle, Shotgun or Net.pdf

         June 13, 2017  Portfolio Status by Rifle, Net or Shotgun.pdf

The methods we use to select stocks need to take account of how many stocks we want to select and the variation in results we might expect.  Skillful allocation between index funds might beat the overall market for a given year, if that is your goal, but not satisfy if your goal is to beat the market by ten percent.  Selecting individual stocks using factor-based research is a misappropriation of the research and is not likely to work.


How Does Wenzel Analytics Go About Investing?

         2002.  Investing Process     

Do you wonder how Wenzel Analytics has achieved its performance record?  Is there a reason for exceptional performance to continue?  This detailed description of the investment process provides a way for you to do due diligence on Wenzel Analytics before handing over authority to manage investments.  You might get some ideas for how to do your own investing, or you may want to imitate the steps in setting up a similar money management practice. 

I decided this methodological description was too detailed to include in the home page orientation.  While most portfolios have come and gone, and some I have gone back to, the strategies have not changed. The basic approach to investing has changed very little since when this was written and I began my practice in 2002. 

A more summary description of my methodology is in the quarterly performance report for all accounts.


Do Index Funds and ETFs Undermine the Efficient Allocation of Capital?

       October 19, 2013.  Tor Dahl e-mail.pdf 

Index products buy all the stocks in the index, whether they have merit or not.  These capital flows do not distinguish the efficient and productive companies from all the rest.  Will this undermine capitalism?  Could we just as well have the State allocating capital to specific companies?  A noted economist answered my e-mail.


Making Money through Paradigm Violations

           February 5, 2011   Paradigm Violations.pdf

This two-page discussion paper outlines eight paradigms for all economic transactions, and presents a framework for understanding innovations by applying a paradigm to a set of services usually provided through another paradigm.  Several examples illustrate the concepts.

Data Mining

Interested in know more about how data mining works?  Want to see an example of a decision tree?  This summary gives more detail than was given in Investing Process.  


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