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2012, vol. 41, iss. 5, pp. 82-95
Option for the Graham indicator application on the Belgrade Stock Exchange
University of Zenica, Faculty of Economics, Federation of B&H

emailalmir_ecc@yahoo.com
Keywords: P/E ratio; P/B ratio; Graham Indicator
Abstract
Fundamental analysis is an analysis of the factors relevant for valuation of the stocks on the level of the industrial branch and on the company level, with the objective of determining internal stock value, i.e. whether stock is undervalued or overvalued. Graham combined his experience and knowledge in order to develop principles that are deemed today to be the basis for fundamental valuation of companies. One of Graham’s proposals in selecting stocks is to use that indicator which shows that the sum obtained by multiplying price-to-earning per share ratio with the priceto-book ratio is lower than 22.5 in order to make that share attractive for purchase. On the basis of Graham Indicator, this paper will also analyze whether there are stocks traded on the Belgrade Stock Exchange which are out of sight yet interesting for purchase.
References
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article language: Serbian
document type: Original Scientific Paper
published in SCIndeks: 22/03/2013