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MR. MARKET TODAYKO 78.42COST 1015PG 167.30MCD 305.80AAPL 234.10MSFT 478.5530Y TREASURY 4.97%IV PROTOCOL v1.0 — OWNER EARNINGS DCF“BE FEARFUL WHEN OTHERS ARE GREEDY” — W. BUFFETTMR. MARKET TODAYESTABLISHED 2026
MR. MARKET TODAYKO 78.42COST 1015PG 167.30MCD 305.80AAPL 234.10MSFT 478.5530Y TREASURY 4.97%IV PROTOCOL v1.0 — OWNER EARNINGS DCF“BE FEARFUL WHEN OTHERS ARE GREEDY” — W. BUFFETTMR. MARKET TODAYESTABLISHED 2026
Vol. I, No. 1
A daily reckoning of price vs value

Mr. Market

The Daily Tape · Established 2026 · Edited from Olympia, Washington
The Five · The Ten · The Twenty
Annual rebalance · 29-stock universe

What if you'd bought the 5 most-undervalued names, every year, for the past five?

A simple test of the protocol: each year, take the 5 stocks Mr. Market is offering most generously below intrinsic value, hold them equal-weighted for a year, then rebalance to the new 5. Compare what you'd have earned to the S&P 500.

The FiveThe TenThe Twenty
The Five · five-year cumulative
+67.4%
CAGR 10.8% annualised
S&P 500 · five-year cumulative
+40.2%
CAGR 7.0% annualised
Spread
+27.2%
The Five beat the index by this much.

Year by year.

Each row is one rebalance period. The 5 stocks Mr. Market was asking least for, relative to intrinsic value, on the rebalance date — held equal-weight until the next rebalance.

20242025

Portfolio: +7.9%S&P 500: +10.4%

20252026

Portfolio: +55.2%S&P 500: +27.0%

A few honest caveats.

This is a simulation, not a record. The portfolio above was never actually held; it is what one would have earned if the protocol had been run, the recommendations followed, and no fees, taxes, or slippage had ever been paid. Real-world results would be worse than the simulation.

Survivorship.The universe is today's thirty largest businesses we cover. A stock that was in the top five five years ago but has since been delisted or merged would have made it into the portfolio — but we wouldn't see it here. This biases the result, modestly, toward the upside.

Point-in-time intrinsic value. The historical Δ% used to pick the top 5each year is computed at each rebalance date from financial data filed by that date — but the growth input substitutes trailing five-year EPS CAGR for the forward analyst consensus the live protocol uses, because historical forward estimates aren't available on the current data tier.

One universe, three sizes. “The Five” concentrates risk; “The Twenty” diversifies it. Neither is investment advice. The point is to show whether the protocol, applied consistently, has historically added valueover a passive S&P holding. Try the three toggles above and see for yourself.

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