For traders with a more short-term time horizon, we have compiled a list of the S&P 1500 stocks that have the largest intraday high-low ranges (based on the average percent spread between the intraday high and low over the last fifty days). We then grouped the stocks based on whether they have a rising or falling 50-day moving average. Stocks highlighted in gray are new to the list this month.

Ramius Capital's most recent portfolio holdings reveal that the hedge fund manager has shifted its portfolio focus to drug manufacturers. The firm’s exposure to US Equity as of June 30th was $366mm, which is down from $788mm at the end of last year. Of the $136.41mm in added positions over the second quarter, $92.62mm was spent by Ramius Capital on healthcare giants Wyeth (WYE) and Schering Plough (SGP). At the same time, the hedge fund dumped its ETFs and opted for investing in individual equities, selling out of its entire $44.21mm of SPDR S&P 500 ETF (SPY) as well as $22.58mm of SPDR Energy Sector (XLE). Overall, the hedge fund sold $92.54 in ETFs over the quarter.

Heeding the widespread call for future rebounds in commodity prices, the firm opened two new oil company positions and a coal company position. Also in line with the rest of the firm’s portfolio, two new information technology companies were added. The largest newly opened positions include:

For traders with a more short-term time horizon, we have compiled a list of the S&P 1500 stocks that have the largest intraday high-low ranges (based on the average percent spread between the intraday high and low over the last fifty days). We then grouped the stocks based on whether they have a rising or falling 50-day moving average. Stocks highlighted in gray are new to the list this month.

This month's most volatile stock is AIG, which has an average intraday range of 14.6%. A couple of years ago the stock was considered a conservative and safe investment. Today, it has become a daytrader's dream. As the market becomes more stable, we are also beginning to see an increase in the number of stocks with share prices in the double digits. While AIG's double digit share price is somewhat artificial given the 1:20 reverse split, seven other stocks with prices above $10 are also on the list.

For traders with a more short-term time horizon, we have compiled a list of the S&P 1500 stocks that have the largest intraday high-low ranges (based on the average percent spread between the intraday high and low over the last fifty days). We then grouped the stocks based on whether they have a rising or falling 50-day moving average. Stocks highlighted in gray are new to the list this month.

Once again this month, Financials and Consumer Discretionary are the most represented sectors, although the two are no longer as dominant on the list as they have been in the past. Not surprisingly, as the overall market has become more stable, the percentage swings of the most volatile stocks has decreased. Also noteworthy is the fact that stocks with double digit prices are once again showing up. In this month's list, six stocks with prices above $10 per share (NP, CENX, LAWS, SAH, ROCK, and AIG) made the cut.

For traders with a more short-term time horizon, we have compiled a list of the S&P 1500 stocks that have the largest intraday high-low ranges (based on the average percent spread between the intraday high and low over the last fifty days). We then grouped the stocks based on whether they have a rising or falling 50-day moving average (DMA). Stocks highlighted in gray are new to the list this month.

After the market's sideways correction from May through mid-July, the number of volatile stocks with falling moving averages has once again exceeded the list of stocks with rising moving averages. However, if the gains of the last week keep up, we're likely to see increases in the list of stocks with rising 50-DMAs in the coming weeks.

The proxy statement filed with the SEC on July 13 by SoftBrands (SBN) concerning Golden-Gate/Infor’s upcoming acquisition of SoftBrands says there was a surprising amount of interest in the almost forgotten Fourth-Shift/AremisSoft, which seems to have been considered the jewel in the company's protracted march to Infor obscurity. And the proxy illustrates why ERP enterprise software, despite the façade of cross-industry general-accounting and human-resource-management marketability, has always really been a very, very industry-specific investment play.

That Infor and its financiers picked up the pieces is not surprising. I’ve lost count but I think Infor is now well north of owning 50 old and once highly respected enterprise application brands. But that parties A, B, C, D, E, F, G and H also showed interest, in some cases did due diligence and—in at least two cases—entered bids says other struggling ERP suppliers can find an end game other than dissolution. (I also wonder if this is where the TARP funds that everyone in Congress is trying to find are ending up—financing risky mergers and acquisitions.)

F3Q09 (Qtr End 12/31/08) Earnings Call

February 10, 2009 11:00 a.m. ET

This is the Third Quarter 2008 edition of our ongoing hedge fund tracking series. Before reading this update, make sure you check out the preface to the series we're doing on Hedge Fund 13F's here.

The other funds we've already covered include:

Agilysys, Inc. (AGYS) posted disappointing revenue in the first and second quarter due to weakness in its TSG group as customers deferred purchase decisions.

We are not surprised that AGYS is facing greater pressure than its peers given its exposure to the retail and hospitality industries, but are puzzled as to why the portion of its business not exposed to these two verticals is performing the weakest. Owing to further weakness in capital spending and soft demand for IT investment, AGYS reduced its fiscal 2009 guidance.

F1Q09 Earnings Call

August 7, 2008 11:00 am ET

F4Q08 Earnings Call

June 2, 2008 11:00 am ET

F3Q08 Earnings Call

January 31, 2008 11:30 am ET

Benjamin Graham is widely regarded to be the founder of modern value investing. His greatest student, Warren Buffett, attributes much of his success to Graham’s teachings.

Though Graham believed that much research is necessary and that no stock screening methodology is perfect, he did give us some guidelines on how to perform initial screening techniques to limit the number of investments that should be researched further. The following is a list of the attributes he suggests investors look for first. The italics represent our changes to his methodology based on the current market:

1. Price-to-book (P/B) ratio of less than 1.2.