Golden Mean — methodology

Golden Mean looks for cheap stocks with sound fundamentals.

Filters

• Piotroski F-score of at least 7.
• Positive free cash flow (FCF).
• Net debt / EBITDA of at most 3.
• No banks or insurers.

Ranking and holdings

• The ranking combines EV/EBIT (lower is better) and gross profit / assets (higher is better).
• 20 stocks, no more than 8 from energy and fuels.
• Rebalanced in May and October.

Data

The strategy reads data/fundamentals.csv (columns: tic, sector, f_score, fcf, net_debt_ebitda, ev_ebit, gross_profit_assets, is_financial, is_energy). While the file holds only a header, the portfolio stays in cash.

Virtual portfolio

• Capital PLN 100,000, commission 0.2% per trade, start 6 Nov 2026, first orders at the open on 9 Nov 2026.
• Benchmark: WIG20 (price index).
• A simulation on raw GPW archive prices. Dividends are not yet added to the portfolio and tax is not included.
• Missing data is not an error: the strategy stays in cash and the Report tab shows what is missing ("waiting for data").
• A screening exercise, not investment advice.