9 DJPTOSALES_PORT
10/27/1980 DJPTOSALES_PORT
10/26/1981 DJPTOSALES_PORT
10/29/1982 DJPTOSALES_PORT
10/31/1983 DJPTOSALES_PORT
10/29/1984 DJPTOSALES_PORT
10/28/1985 DJPTOSALES_PORT
10/27/1986 DJPTOSALES_PORT
10/26/1987 DJPTOSALES_PORT
10/31/1988 DJPTOSALES_PORT
10/30/1989 DJPTOSALES_PORT
Apr15Amnt
AugLTDAmnt
Apr15Pct
AugLTDPct
0.338
0.294
0.021
0.357
0.123
0.319
0.500
1.469
0.740
1.587
3.977
3.602
1.878
2.267
1.618
0.670
12.703
25.177
0.329
0.349
0.877
0.961
0.066
8.818
0.615
9.662
2.826
6.059
9.891
9.981
23.748
22.152
1.252
1.178
10.003
23.542
2.316
21.295
33.569
1.039
8.162
11.467
2.110
16.245
21.591
6.250
33.269
52.290
8.283
20.348
46.791
2.540
8.623
0.339
9.953
9.773
5.115
13.458
37.183
1.071
10/29/1990 DJPTOSALES_PORT
12.121
12.911
41.938
44.670
10/28/1991 DJPTOSALES_PORT
10/26/1992 DJPTOSALES_PORT
10/29/1993 DJPTOSALES_PORT
3.127
5.989
3.368
1.905
7.972
4.857
9.313
15.204
23.641
7.546
6.894
15.445
10/31/1994 DJPTOSALES_PORT
7.456
14.259
13.264
25.366
10/30/1995 DJPTOSALES_PORT
13.788
13.243
18.871
18.124
10/28/1996 DJPTOSALES_PORT
7.913
33.482
8.377
35.445
10/27/1997 DJPTOSALES_PORT
49.981
36.878
39.163
28.896
10/26/1998 DJPTOSALES_PORT
58.751
74.503
31.813
40.343
10/29/1999 DJPTOSALES_PORT
10.288
29.095
3.967
11.219
10/30/2000 DJPTOSALES_PORT
–13.687 –11.244
–4.680
–3.845
10/29/2001 DJPTOSALES_PORT
18.606 –16.780
7.101
–6.404
13.5% Average Gain
CCC-Williams 3 (145-216).qxp 4/24/03 6:56 AM Page 173
THE TRUTH ABOUT YIELD, CASH FLOW, PRICE-TO-SALES
173
Table 11.5 (Continued)
Five Highest Dividend Yield
Date
Port
Apr15Amnt
AugLTDAmnt
Apr15Pct
AugLTDPct
10/27/1975 DJDIVYIELD_PORT
10/29/1976 DJDIVYIELD_PORT
10/31/1977 DJDIVYIELD_PORT
10/30/1978 DJDIVYIELD_PORT
1.978
0.767
0.418
3.193
2.987
21.119
31.886
0.543
1.352
6.136
3.384
4.349
10.935
4.437
24.955
34.670
10/29/1979 DJDIVYIELD_PORT
–1.004
2.836
–6.277
17.729
10/27/1980 DJDIVYIELD_PORT
2.471
1.802
13.204
9.626
10/26/1981 DJDIVYIELD_PORT
–0.113
–1.654
–0.572
–8.366
10/29/1982 DJDIVYIELD_PORT
10/31/1983 DJDIVYIELD_PORT
10/29/1984 DJDIVYIELD_PORT
4.096
3.265
1.580
6.524
19.953
31.778
3.830
12.163
14.265
5.462
5.249
18.147
10/28/1985 DJDIVYIELD_PORT
6.267
10.443
16.920
28.197
10/27/1986 DJDIVYIELD_PORT
11.704
18.944
25.218
40.817
10/26/1987 DJDIVYIELD_PORT
12.741
13.589
28.103
29.973
10/31/1988 DJDIVYIELD_PORT
5.370
16.630
10/30/1989 DJDIVYIELD_PORT
5.293
1.853
8.585
6.925
26.587
2.424
10/29/1990 DJDIVYIELD_PORT
19.536
41.425
27.684
58.703
10/28/1991 DJDIVYIELD_PORT
17.260
20.682
15.677
18.785
10/26/1992 DJDIVYIELD_PORT
17.317
28.570
14.262
23.530
10/29/1993 DJDIVYIELD_PORT
–2.881
20.012
–1.865
12.955
10/31/1994 DJDIVYIELD_PORT
12.418
40.952
7.047
23.240
10/30/1995 DJDIVYIELD_PORT
45.707
62.689
20.101
27.569
10/28/1996 DJDIVYIELD_PORT
33.354
92.049
10.596
29.242
10/27/1997 DJDIVYIELD_PORT
79.415
46.908
20.346
12.018
10/26/1998 DJDIVYIELD_PORT
80.749
92.945
16.613
19.122
10/29/1999 DJDIVYIELD_PORT
–38.375
22.936
–6.805
4.067
10/30/2000 DJDIVYIELD_PORT
37.913
57.500
6.659
10.099
10/29/2001 DJDIVYIELD_PORT
90.205
5.719
16.897
1.071
12.3% Average Gain
CCC-Williams 3 (145-216).qxp 4/24/03 6:56 AM Page 174
174 PUTTING IT ALL TOGETHER FOR LONG-TERM INVESTMENT SUCCESS
Table 11.6 Return on Dow Jones Industrial Average Stocks
Return on Five Highest Cash Flow
Date
Port
Apr15Amnt
AugLTDAmnt
Apr15Pct
AugLTDPct
10/29/1976 DJCASHFLOW_PORT –0.003
–2.062
–0.029
–17.722
10/31/1977 DJCASHFLOW_PORT –0.013
0.618
–0.141
6.911
10/30/1978 DJCASHFLOW_PORT
1.822
2.155
21.037
24.880
10/29/1979 DJCASHFLOW_PORT
0.330
2.446
3.260
24.141
10/27/1980 DJCASHFLOW_PORT
2.449
1.160
19.504
10/26/1981 DJCASHFLOW_PORT
0.993
0.698
7.905
9.233
5.553
10/29/1982 DJCASHFLOW_PORT
3.103
6.769
21.140
46.116
10/31/1983 DJCASHFLOW_PORT –1.483
–1.206
–7.279
–5.921
10/29/1984 DJCASHFLOW_PORT –0.282
1.781
–1.617
10.230
10/28/1985 DJCASHFLOW_PORT
2.007
4.789
10.516
25.099
10/27/1986 DJCASHFLOW_PORT
6.886
16.800
29.595
72.203
10/26/1987 DJCASHFLOW_PORT
8.353
7.079
33.272
28.197
10/31/1988 DJCASHFLOW_PORT
2.400
9.848
7.306
29.976
10/30/1989 DJCASHFLOW_PORT
0.212
–7.709
0.501
–18.251
10/29/1990 DJCASHFLOW_PORT
8.284
9.638
26.975
31.384
10/28/1991 DJCASHFLOW_PORT 11.178
7.335
28.391
18.629
10/26/1992 DJCASHFLOW_PORT
4.623
8.195
10.064
17.841
10/29/1993 DJCASHFLOW_PORT
4.924
13.820
8.936
25.079
10/31/1994 DJCASHFLOW_PORT
2.612
4.851
3.668
6.811
10/30/1995 DJCASHFLOW_PORT 15.366
21.022
19.573
26.776
10/28/1996 DJCASHFLOW_PORT
4.133
23.400
3.811
21.578
10/27/1997 DJCASHFLOW_PORT 19.788 –18.546
15.480
–14.509
10/26/1998 DJCASHFLOW_PORT 17.406
11.193
14.035
9.025
10/29/1999 DJCASHFLOW_PORT –2.337
–5.375
–1.734
–3.988
10/30/2000 DJCASHFLOW_PORT
0.716
5.940
0.538
4.465
10/29/2001 DJCASHFLOW_PORT 20.598
–7.248
16.145
–5.681
11.2% Average Gain
CCC-Williams 3 (145-216).qxp 4/24/03 6:56 AM Page 175
THE TRUTH ABOUT YIELD, CASH FLOW, PRICE-TO-SALES
175
Table 11.6 (Continued)
Return on Five Highest Consecutive Earnings Growth
Date
Port
Apr15Amnt
AugLTDAmnt
Apr15Pct
AugLTDPct
10/29/1976 DJEARNGROW_PORT
0.152
10/31/1977 DJEARNGROW_PORT
0.005
10/30/1978 DJEARNGROW_PORT
0.082
0.251
0.731
0.348
4.765
0.151
2.263
7.872
22.532
9.654
10/29/1979 DJEARNGROW_PORT –0.087
0.664
–2.415
18.502
10/27/1980 DJEARNGROW_PORT
0.749
0.279
18.420
6.858
10/26/1981 DJEARNGROW_PORT
0.374
1.068
8.503
24.252
10/29/1982 DJEARNGROW_PORT
1.069
1.081
17.355
17.549
10/31/1983 DJEARNGROW_PORT –0.149
0.696
–1.984
9.278
10/29/1984 DJEARNGROW_PORT
0.605
1.782
7.298
21.507
10/28/1985 DJEARNGROW_PORT
3.890
5.623
34.423
49.756
10/27/1986 DJEARNGROW_PORT
4.673
10.073
29.343
63.251
10/26/1987 DJEARNGROW_PORT
1.009
1.395
5.587
7.720
10/31/1988 DJEARNGROW_PORT
3.540
8.625
16.813
40.966
10/30/1989 DJEARNGROW_PORT
2.563
1.568
8.617
5.272
10/29/1990 DJEARNGROW_PORT 10.919
12.800
37.390
43.834
10/28/1991 DJEARNGROW_PORT
6.679
6.916
15.923
16.488
10/26/1992 DJEARNGROW_PORT –0.664
2.276
–1.439
10/29/1993 DJEARNGROW_PORT –0.806
3.675
–1.576
4.931
7.186
10/31/1994 DJEARNGROW_PORT
9.552
17.447
17.146
31.316
10/30/1995 DJEARNGROW_PORT 13.764
17.102
16.900
20.999
10/28/1996 DJEARNGROW_PORT 17.902
29.799
16.764
27.906
10/27/1997 DJEARNGROW_PORT 44.369
29.537
35.274
23.482
10/26/1998 DJEARNGROW_PORT 70.982
54.210
39.957
30.516
10/29/1999 DJEARNGROW_PORT –19.798
–9.354
–7.700
–3.638
10/30/2000 DJEARNGROW_PORT –22.091 –21.000
–8.616
–8.191
10/29/2001 DJEARNGROW_PORT 19.876 –33.235
8.975
–15.007
12.2% Average Gain
(Continued)
CCC-Williams 3 (145-216).qxp 4/24/03 6:56 AM Page 176
176 PUTTING IT ALL TOGETHER FOR LONG-TERM INVESTMENT SUCCESS
Table 11.6 (Continued)
Return on Five Highest Projected One-Year Earnings
Date
Port
Apr15Amnt
AugLTDAmnt
Apr15Pct
AugLTDPct
10/29/1976 DJFUTEARN_PORT
3.348
–5.307
6.889
–10.919
10/31/1977 DJFUTEARN_PORT
10/30/1978 DJFUTEARN_PORT
0.677
2.822
6.349
6.060
1.649
15.458
6.763
14.523
10/29/1979 DJFUTEARN_PORT
–5.524
4.250
–12.893
9.920
10/27/1980 DJFUTEARN_PORT
–1.316
–5.967
–2.810
–12.739
10/26/1981 DJFUTEARN_PORT
–1.860
–2.619
–4.930
–6.942
10/29/1982 DJFUTEARN_PORT
3.111
4.837
8.601
13.374
10/31/1983 DJFUTEARN_PORT
–2.538
1.243
–5.949
2.914
10/29/1984 DJFUTEARN_PORT
6.269
10.126
14.619
23.615
10/28/1985 DJFUTEARN_PORT
14.001
5.890
25.105
10.561
10/27/1986 DJFUTEARN_PORT
11.191
23.416
19.244
40.267
10/26/1987 DJFUTEARN_PORT
13.592
11.885
26.827
23.458
10/31/1988 DJFUTEARN_PORT
7.655
7.943
11.619
12.055
10/30/1989 DJFUTEARN_PORT
0.243
–8.899
0.402
–14.752
10/29/1990 DJFUTEARN_PORT
10/28/1991 DJFUTEARN_PORT
5.920
1.443
9.032
13.200
20.141
4.262
2.866
8.467
10/26/1992 DJFUTEARN_PORT
8.815
15.529
15.718
27.691
10/29/1993 DJFUTEARN_PORT
–3.302
–2.817
–4.587
–3.912
10/31/1994 DJFUTEARN_PORT
2.431
5.558
3.664
8.379
10/30/1995 DJFUTEARN_PORT
16.325
11.752
23.603
16.992
10/28/1996 DJFUTEARN_PORT
6.919
15.426
8.226
18.338
10/27/1997 DJFUTEARN_PORT
10.027 –12.982
10.411
–13.480
10/26/1998 DJFUTEARN_PORT
22.358
20.248
24.558
22.241
10/29/1999 DJFUTEARN_PORT
1.799
13.824
1.697
13.036
10/30/2000 DJFUTEARN_PORT
2.009
4.667
1.983
10/29/2001 DJFUTEARN_PORT
12.193
5.985
12.532
4.607
6.152
8.0% Average Gain
CCC-Williams 3 (145-216).qxp 4/24/03 6:56 AM Page 177
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177
Table 11.6 (Continued)
Return on Five Lowest Price to Book
Date
Port
Apr15Amnt
AugLTDAmnt
Apr15Pct
AugLTDPct
10/27/1975 DJPRICEBOOK_PORT
2.162
3.163
26.262
38.413
10/29/1976 DJPRICEBOOK_PORT
1.625
–0.797
15.338
–7.523
10/31/1977 DJPRICEBOOK_PORT
0.183
1.875
2.020
20.716
10/30/1978 DJPRICEBOOK_PORT
2.387
2.267
25.467
24.186
10/29/1979 DJPRICEBOOK_PORT –1.313
1.595
–12.662
15.379
10/27/1980 DJPRICEBOOK_PORT
2.322
–0.260
18.855
–2.115
10/26/1981 DJPRICEBOOK_PORT –1.129
–2.840
–10.293
–25.897
10/29/1982 DJPRICEBOOK_PORT
4.075
5.667
46.123
64.149
10/31/1983 DJPRICEBOOK_PORT
0.384
–0.445
2.346
–2.720
10/29/1984 DJPRICEBOOK_PORT
2.154
2.136
15.120
14.990
10/28/1985 DJPRICEBOOK_PORT
3.801
0.963
25.172
6.377
10/27/1986 DJPRICEBOOK_PORT
3.817
9.914
25.330
65.796
10/26/1987 DJPRICEBOOK_PORT
8.789
9.081
61.009
63.035
10/31/1988 DJPRICEBOOK_PORT
2.655
6.924
10.731
27.985
10/30/1989 DJPRICEBOOK_PORT
2.167
–3.008
7.186
–9.974
10/29/1990 DJPRICEBOOK_PORT 10.399
20.143
41.607
80.594
10/28/1991 DJPRICEBOOK_PORT
9.904
3.973
21.673
8.693
10/26/1992 DJPRICEBOOK_PORT
8.248
14.636
15.864
28.150
10/29/1993 DJPRICEBOOK_PORT
2.967
11.515
10/31/1994 DJPRICEBOOK_PORT
8.112
22.306
4.332
9.998
16.818
27.490
10/30/1995 DJPRICEBOOK_PORT 29.396
32.808
27.865
31.099
10/28/1996 DJPRICEBOOK_PORT
4.640
51.322
3.050
33.728
10/27/1997 DJPRICEBOOK_PORT 35.277 –26.503
18.378
–13.807
10/26/1998 DJPRICEBOOK_PORT 47.435
49.443
25.173
26.239
10/29/1999 DJPRICEBOOK_PORT
6.703
28.613
10/30/2000 DJPRICEBOOK_PORT 16.471
37.933
2.805
6.122
11.972
14.100
10/29/2001 DJPRICEBOOK_PORT 38.373 –21.448
14.028
–7.841
16.6% Average Gain
(Continued)
CCC-Williams 3 (145-216).qxp 4/24/03 6:56 AM Page 178
178 PUTTING IT ALL TOGETHER FOR LONG-TERM INVESTMENT SUCCESS
Table 11.6 (Continued)
Return on Five Highest Return on Equity
Date
Port
Apr15Amnt
AugLTDAmnt
Apr15Pct
AugLTDPct
10/27/1975 DJRTNEQTY_PORT
2.755
3.468
30.152
37.958
10/29/1976 DJRTNEQTY_PORT
–0.481
–0.428
–3.980
–3.543
10/31/1977 DJRTNEQTY_PORT
10/30/1978 DJRTNEQTY_PORT
0.189
0.144
2.235
0.988
1.725
1.194
20.387
8.212
10/29/1979 DJRTNEQTY_PORT
–0.494
1.870
–4.219
15.978
10/27/1980 DJRT