J. Royden Ward
Value Investment Specialist, Analyst and Editor of Cabot Benjamin Graham Value Letter
A lifelong investment professional, J. Royden Ward applies his 40 years of investment research, portfolio management, writing and publishing experience to his role as analyst and editor of
Cabot Benjamin Graham Value Letter. He is also a regular contributor to Cabot's free e-newsletter,
Cabot Wealth Advisory, and blog,
The Iconoclast Investor.
The Cabot Benjamin Graham Value Letter is directed to long-term investors seeking a guide to profitable value investing based on the time-tested systems originally developed by Benjamin Graham. Since the 1930s, Benjamin Graham’s timeless value investing approach achieved returns of 20% per year with low risk regardless of the market's ups and downs. Graham taught or influenced later investment gurus Warren Buffett, Mario Gabelli, John Neff, Michael Price, John Bogle—and Cabot Benjamin Graham Value Letter editor J. Royden Ward.
A second-generation disciple of Benjamin Graham, Roy in 1969 pioneered the development of a computerized model that applied the formulas developed by Graham using a unique ranking system. Today, Roy applies his system to two models in the Value Letter. Since inception in 1996, Roy's Wise Owl Model has achieved a compound annual return of 16%, and since inception in 2003, Roy's Classic Benjamin Graham Value Model achieved a compound annual return of 22.4%.
Prior to joining Cabot, Roy directed all facets of the investment divisions for several financial planning/investment advisor organizations and successfully managed and monitored the performance of 300 individual accounts for investors using stocks, bonds and mutual funds.
Roy is a Registered Investment Advisor and holds a B.S. in Business Administration with a major in Finance and Investments from Babson College in Wellesley, MA.
Publications
J. Royden Ward is the analyst and editor of
Cabot Benjamin Graham Value Letter, offering comprehensive value investing advice for moderately conservative investors. It identifies undervalued, high-quality stocks using the only system with a 76-year track record—a system developed by Benjamin Graham, used by Warren Buffet, and later computerized by the newsletter’s Editor and Analyst, econometrician J. Royden Ward.
Every month, Roy fills up a spreadsheet with 1,000 stocks and 244 columns of data and formulas to produce two million calculations. The calculations tell Roy which companies have produced steady sales, earnings and dividend growth during the past 10 years. He also uses the calculations to find companies that will continue to grow during the next year, two years and five years. The information also helps him to identify companies that have strong balance sheets with little debt and lots of cash. Finally, the calculations help Roy to determine which stocks are undervalued and deserve further study to determine their appreciation potential. The results of all his analysis is boiled down and appears in an easy-to-understand format in Cabot Benjamin Graham Value Letter every month.
Cabot Benjamin Graham Value Letter presents two portfolios based on Benjamin Graham systems: Classic Benjamin Graham Model and Wise Owl Model. Since its inception on 12/31/95 until 3/31/09, the Wise Owl Model has achieved a compound annual return of +12.2% compared to a +2.0% return for the S&P 500. Since its inception on 11/30/02 until 3/31/09, the Classic Model and achieved a compound annual return of +6.1% compared to a -2.4% return for the Dow Jones Industrial Average.
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