This week, we are deeply saddened by the death of William J. O’Neil on May 28, 2023, at the age of 90. O’Neil, the founder of Investor’s Business Daily and author of How to Make Money in Stocks, has developed a strategy called CAN SLIM, an acronym to help remember the seven factors that winning stocks tend to possess. In this article I cover AAII’s O’Neil CAN SLIM No Float screening model and give you a list of stocks currently passing our screen based on the approach.
The O’Neil CAN SLIM strategy aims to identify stocks with high historical and projected growth that are likely to have rapid price increases. The strategy includes a market-timing consideration since O’Neil found that investing only during a market uptrend helps to avoid “swimming upstream.” As of May 31, 2023, AAII’s O’Neil CAN SLIM No Float screening model has an annual gain since inception (1997) of 12.2%, versus 5.7% for the S&P 500 index over the same period. The O’Neil CAN SLIM No Float screen is down 3.6% year to date, compared to an increase of 9.8% for the S&P 500 over the same period.
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