Screen stocks the Howard Marks way
Marks focuses on second-level thinking — finding value where others see risk. He emphasizes downside protection and asymmetric risk-reward.
How this screen is built
Every result passes all filters
This screen applies all criteria simultaneously across 100,000+ stocks. Every result must pass all filters — not just one or two.
Undervalued Where Others See Risk
Marks looks for stocks the market has mispriced because it is overly pessimistic. The screen requires the undervalued flag with a low trap score — genuine mispricing, not a deteriorating business that deserves to be cheap.
Low Volatility — Downside First
Marks is obsessed with not losing money. Beta below 1 and annualised price volatility below 32% ensures these stocks move less than the market — the foundation of asymmetric risk-reward.
Net Cash — No Forced Selling
A company with more cash than debt can never be forced to sell assets at distressed prices or dilute shareholders at the worst time. Marks calls this the balance sheet that lets you wait out the market.
Low Bankruptcy Risk
Ohlson O-Score below 10% probability of financial distress. Marks defines risk as the probability of permanent loss — not volatility. This filter directly targets that risk at its statistical root.
What Swalex adds on top
Value score as a composite confirmation that the discount is real and multi-dimensional. Marks distinguishes between apparent value and real value — this score synthesises both earnings and balance sheet cheapness.
Last screen results
What the Howard Marks screen surfaced
Results based on latest available data. Run the live screen for current results.
| Ticker | Name | Country | Value Score | Trap Score | Volatility | Beta | Net Cash |
|---|---|---|---|---|---|---|---|
| LSF.AX | L1 Long Short Fund | Australia | 69% | 1 | 26% | 0.25 | $4.0B |
| CALM | Cal-Maine Foods | USA | 65% | 1 | 34% | 0.09 | $1.2B |
| 6417.T | Sankyo | Japan | 63% | 0 | 25% | 0.28 | $1.5B |
| 035250.KS | Kangwon Land | South Korea | 61% | 2 | 21% | 0.20 | $2.2B |
| ESCT.L | European Smaller Co Trust | UK | 61% | 2 | 16% | 0.87 | $1.9M |
| 1766.T | Token Corp | Japan | 61% | 2 | 18% | 0.41 | $844M |
| CASH | Meta Financial Group | USA | 64% | 1 | 29% | 0.96 | $1.4B |
| CRCT | Cricut Inc | USA | 62% | 2 | 44% | 0.92 | $249M |
| CHENNPETRO.BO | Chennai Petroleum | India | 63% | 2 | 48% | 0.13 | $127M |
| RCL.BK | Regional Container Lines | Thailand | 62% | 2 | 33% | 0.46 | $123M |
This screen is inspired by publicly known investment principles attributed to Howard Marks. Not affiliated with or endorsed by Howard Marks or Oaktree Capital Management. Not investment advice.