I use many factors when valuating a stock as well. In many cases you are correct. High dividend yields often do mean high risk. I have a knack for finding high yield stocks that pose less risk and have significant upside potential. Most companies do not start out paying a high yield. The yield rises due to downside pressure from any number of factors. The key is to find those gems that will rebound or at the very least hold up. I must disagree with you on net tangible value though. If you don't know what a company's actual value is, it is difficult to valuate it properly. It shouldn't be the only factor you consider but it should be one of the factors. Actually, if you take a look at the chart for ACAS, you will see that it has appreciated significcantly over the past several months and there are many insiders buying the stock. But there is really no need to argue systems. Each investor has his own way of finding stocks he believes are undervalued. If you system works for you, that's great. Mine has worked extremely well for me during this bear market. To each his own my friend.
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