Investinvalue.com is about Value Investing in international stocks using Benjamin Graham's Formula
Value Investing is determining the Intrinsic value of a stock, and investing in it if the difference between this value and the stock price provides a sufficient Margin of Safety.
This site is based on Benjamin Graham 's book : The Intelligent Investor, first published in 1949. Benjamin Graham is known to be the father of Value Investing and has been the teacher of Warren Buffett at Columbia University.

		The Country you have selected is France. You can select another country by clicking on the flags.
		The Stocks selected below have a minimum Margin of Safety of : % At purchase, Benjamin Graham suggested a minimum Margin of Safety of 50%.
		Graham's Filters applied are for Conservative Enterprising Investors. The Stocks selected below have a minimum number of : 5 stars4 stars3 stars2 stars1 starNo star What is the Margin of Safety ? What is the Graham's Formula ? What are Graham's Filters ? What are the Stars ?

	See all	Sort by Margin

STOCK

QUALITY Conservative Investors

MARGIN OF SAFETY Long Term Growth Price / Earnings

Alten - France Mid&Small 190 - IT Services

MARGIN OF SAFETY : 166.15 % Long Term Growth : 8.76 % Price / Earnings : 9.8 x 12.42 / 1.27 =

April Group - France Mid&Small 190 - Insurance ALERTS : STOP at : 25 EUR on : 2/2/2009

MARGIN OF SAFETY : 106.70 % Long Term Growth : 10.24 % Price / Earnings : 14.0 x 24.4 / 1.74 =

Areva - France Mid&Small 190 - Electrical Equipment ALERTS : STOP at : 336.79 EUR on : 2/2/2009 STOP at : 402 EUR on : 11/3/2008 SELL at : 684.87 EUR on : 09/11/2007 SELL at : 728.06 EUR on : 31/08/2007

MARGIN OF SAFETY : 74.19 % Long Term Growth : 11.82 % Price / Earnings : 18.5 x 413.99 / 22.43 =

Audika SA - France Mid&Small 190 - Health Care Equipment & Supplies ALERTS : STOP at : 15.69 EUR on : 2/2/2009 STOP at : 17.6 EUR on : 10/14/2008

MARGIN OF SAFETY : 96.16 % Long Term Growth : 11.38 % Price / Earnings : 15.9 x 18.01 / 1.13 =

Axa - France CAC 40 - Insurance ALERTS : STOP at : 11.9 EUR on : 2/2/2009 STOP at : 20.93 EUR on : 8/25/2008

MARGIN OF SAFETY : 243.95 % Long Term Growth : 9.17 % Price / Earnings : 7.8 x 13.11 / 1.68 =

Boiron - France Mid&Small 190 - Pharmaceuticals ALERTS : SELL at : 20.4 EUR on : 08/31/2007

MARGIN OF SAFETY : 56.40 % Long Term Growth : 4.22 % Price / Earnings : 10.8 x 19.5 / 1.80 =

Boizel Chanoine - France (no index) - Beverages ALERTS : STOP at : 26.5 EUR on : 3/18/2009 STOP at : 28.48 EUR on : 2/2/2009 BUY at : 87.3 EUR on : 04/01/2008

MARGIN OF SAFETY : 336.33 % Long Term Growth : 12.56 % Price / Earnings : 7.7 x 34.98 / 4.54 =

Bonduelle - France Mid&Small 190 - Food Products ALERTS : STOP at : 50 EUR on : 3/18/2009

MARGIN OF SAFETY : 145.12 % Long Term Growth : 9.63 % Price / Earnings : 11.3 x 59 / 5.21 =

Bongrain - France Mid&Small 190 - Food Products ALERTS : STOP at : 45.49 EUR on : 2/11/2009 STOP at : 49 EUR on : 10/02/2008 STOP at : 51.37 EUR on : 08/26/2008 STOP at : 49.93 EUR on : 7/22/2008

MARGIN OF SAFETY : 66.04 % Long Term Growth : 5.01 % Price / Earnings : 11.1 x 40.25 / 3.61 =

Bourbon - France Mid&Small 190 - Energy Equipment & Services ALERTS : BUY at : 22.9 EUR on : 11/3/2008 STOP at : 38.24 EUR on : 08/26/2008

MARGIN OF SAFETY : 120.10 % Long Term Growth : 10.31 % Price / Earnings : 13.2 x 30.16 / 2.28 =

Bouygues - France CAC 40 - Construction & Engineering

MARGIN OF SAFETY : 248.63 % Long Term Growth : 9.32 % Price / Earnings : 7.8 x 30.44 / 3.91 =

Bricorama - France Mid&Small 190 - Specialty Retail ALERTS : STOP at : 21.07 EUR on : 1/29/2009 STOP at : 37.5 EUR on : 11/3/2008

MARGIN OF SAFETY : 158.75 % Long Term Growth : 2.32 % Price / Earnings : 5.1 x 17.67 / 3.48 =

Camaieu - France Mid&Small 190 - Specialty Retail

MARGIN OF SAFETY : 257.89 % Long Term Growth : 11.32 % Price / Earnings : 8.7 x 145 / 16.66 =

Cap Gemini - France CAC 40 - IT Services ALERTS : STOP at : 46.17 EUR on : 10/15/2007 STOP at : 46.17 EUR on : 10/15/2007

MARGIN OF SAFETY : 270.25 % Long Term Growth : 15.27 % Price / Earnings : 10.5 x 26.99 / 2.56 =

Carbone Lorraine - France Mid&Small 190 - Electrical Equipment ALERTS : STOP at : 33.4 EUR on : 01/29/2008 STOP at : 33.4 EUR on : 01/29/2008

MARGIN OF SAFETY : 228.11 % Long Term Growth : 12.95 % Price / Earnings : 10.5 x 22.43 / 2.14 =

Carrefour - France CAC 40 - Food & Staples Retailing ALERTS : STOP at : 26.47 EUR on : 2/2/2009

MARGIN OF SAFETY : 102.93 % Long Term Growth : 8.71 % Price / Earnings : 12.8 x 30.53 / 2.39 =

Cegedim - France Mid&Small 190 - ALERTS : STOP at : 34 EUR on : 3/18/2009 STOP at : 83 EUR on : 10/29/2007 STOP at : 83 EUR on : 10/29/2007

MARGIN OF SAFETY : 271.29 % Long Term Growth : 10.56 % Price / Earnings : 8.0 x 47 / 5.89 =

Cegid Group SA - France Mid&Small 190 - Software

MARGIN OF SAFETY : 375.76 % Long Term Growth : 11.81 % Price / Earnings : 6.8 x 10.6 / 1.57 =

CNIM - France Mid&Small 190 - Commercial Services & Supplies

MARGIN OF SAFETY : 95.50 % Long Term Growth : 5.11 % Price / Earnings : 9.6 x 60.4 / 6.31 =

Danone - France CAC 40 - Food Products

MARGIN OF SAFETY : 105.86 % Long Term Growth : 10.34 % Price / Earnings : 14.2 x 39.13 / 2.76 =

Delachaux - France Mid&Small 190 - Machinery ALERTS : BUY at : 72.5 EUR on : 8/25/2008

MARGIN OF SAFETY : 139.39 % Long Term Growth : 8.59 % Price / Earnings : 10.7 x 43.98 / 4.10 =

Dentressangle - France Mid&Small 190 - Air Freight & Logistics ALERTS : STOP at : 23 EUR on : 2/11/2009 STOP at : 60.25 EUR on : 6/9/2008

MARGIN OF SAFETY : 105.13 % Long Term Growth : 5.40 % Price / Earnings : 9.4 x 30.5 / 3.24 =

EADS - France CAC 40 - Aerospace & Defense ALERTS : BUY at : 13.91 EUR on : 2/2/2009 SELL at : 22.9 EUR on : 11/06/2007 SELL at : 22.9 EUR on : 11/06/2007 SELL at : 21.26 EUR on : 08/31/2007

MARGIN OF SAFETY : 308.01 % Long Term Growth : 12.91 % Price / Earnings : 8.4 x 11.02 / 1.31 =

ESI Group - France Next Economy - Software ALERTS : STOP at : 6.9 EUR on : 3/18/2009 STOP at : 7 EUR on : 2/2/2009 BUY at : 7.67 EUR on : 01/29/2008 BUY at : 7.67 EUR on : 01/29/2008

MARGIN OF SAFETY : 76.20 % Long Term Growth : 7.09 % Price / Earnings : 12.9 x 7.85 / 0.61 =

Essilor Intl - France CAC 40 - Health Care Equipment & Supplies ALERTS : STOP at : 45.62 EUR on : 25/07/2007

MARGIN OF SAFETY : 51.26 % Long Term Growth : 8.84 % Price / Earnings : 17.3 x 33.22 / 1.92 =

Esso - France Mid&Small 190 - Oil, Gas & Consumable Fuels ALERTS : STOP at : 74.77 EUR on : 2/2/2009 STOP at : 129.3 EUR on : 08/26/2008 BUY at : 133.97 EUR on : 8/25/2008 BUY at : 155 EUR on : 01/24/2008 BUY at : 155 EUR on : 25/01/2008

MARGIN OF SAFETY : 186.45 % Long Term Growth : 8.05 % Price / Earnings : 8.6 x 92.7 / 10.79 =

Eurazeo - France Mid&Small 190 - Diversified Financial Services ALERTS : BUY at : 18.95 EUR on : 3/18/2009 STOP at : 23.7 EUR on : 2/11/2009 BUY at : 26.16 EUR on : 2/2/2009

MARGIN OF SAFETY : 55.75 % Long Term Growth : 4.60 % Price / Earnings : 11.4 x 33.87 / 2.98 =

Eurofins Scienti - France Mid&Small 190 - ALERTS : STOP at : 34.15 EUR on : 2/2/2009 SELL at : 55.32 EUR on : 10/02/2008 SELL at : 69.67 EUR on : 08/31/2007

MARGIN OF SAFETY : 63.35 % Long Term Growth : 15.25 % Price / Earnings : 23.9 x 34.15 / 1.43 =

Exel Industries - France Mid&Small 190 - Machinery ALERTS : BUY at : 30.4 EUR on : 11/3/2008 STOP at : 45 EUR on : 28/05/2008 SELL at : 87.5 EUR on : 03/04/2008 STOP at : 45.8 EUR on : 02/05/2008

MARGIN OF SAFETY : 163.80 % Long Term Growth : 6.94 % Price / Earnings : 8.5 x 25.03 / 2.95 =

Financiere Odet - France Mid&Small 190 - Air Freight & Logistics

MARGIN OF SAFETY : 777.42 % Long Term Growth : 11.33 % Price / Earnings : 3.6 x 173.3 / 48.79 =

Fonciere Regions - France Mid&Small 190 - Real Estate ALERTS : BUY at : 86.84 EUR on : 6/19/2008 STOP at : 88.05 EUR on : 6/2/2008 BUY at : 94.68 EUR on : 10/15/2007 BUY at : 94.68 EUR on : 10/15/2007 STOP at : 103.75 EUR on : 10/09/2007 BUY at : 99.28 EUR on : 09/11/2007 STOP at : 111.67 EUR on : 08/31/2007 STOP at : 111.5 EUR on : 07/27/2007

MARGIN OF SAFETY : 288.27 % Long Term Growth : 11.37 % Price / Earnings : 8.0 x 51.25 / 6.37 =

Gecina - France Mid&Small 190 - Real Estate ALERTS : STOP at : 94.84 EUR on : 01/08/2008 STOP at : 94.84 EUR on : 24/01/2008

MARGIN OF SAFETY : 106.46 % Long Term Growth : 8.46 % Price / Earnings : 12.3 x 54.67 / 4.44 =

GIFI - France Mid&Small 190 - Multiline Retail ALERTS : STOP at : 50.15 EUR on : 6/19/2008 BUY at : 54.7 EUR on : 02/12/2008 BUY at : 54 EUR on : 02/05/2008

MARGIN OF SAFETY : 221.42 % Long Term Growth : 8.16 % Price / Earnings : 7.7 x 33.9 / 4.39 =

Groupe Crit SA - France Mid&Small 190 - Commercial Services & Supplies ALERTS : STOP at : 8.48 EUR on : 2/2/2009 BUY at : 27.7 EUR on : 11/13/2007 BUY at : 27.7 EUR on : 11/13/2007 STOP at : 31.47 EUR on : 10/15/2007 STOP at : 31.47 EUR on : 10/15/2007 BUY at : 44.39 EUR on : 27/07/2007 STOP at : 45.25 EUR on : 25/07/2007

MARGIN OF SAFETY : 143.41 % Long Term Growth : 8.33 % Price / Earnings : 10.3 x 10.65 / 1.03 =

Groupe OPEN - France Mid&Small 190 - Internet Software & Services ALERTS : STOP at : 4.2 EUR on : 2/2/2009 STOP at : 5.66 EUR on : 11/3/2008 STOP at : 10.03 EUR on : 08/26/2008 STOP at : 10 EUR on : 8/25/2008 STOP at : 11.1 EUR on : 7/2/2008 STOP at : 11.55 EUR on : 6/2/2008 STOP at : 7.51 EUR on : 01/29/2008 STOP at : 7.51 EUR on : 01/29/2008 STOP at : 11.4 EUR on : 10/15/2007 STOP at : 11.4 EUR on : 10/15/2007

MARGIN OF SAFETY : 232.62 % Long Term Growth : 13.36 % Price / Earnings : 10.6 x 5.93 / 0.56 =

Groupe Steria - France Mid&Small 190 - IT Services ALERTS : BUY at : 20.24 EUR on : 08/26/2008 STOP at : 17.63 EUR on : 8/25/2008 STOP at : 24.05 EUR on : 11/13/2007 STOP at : 24.05 EUR on : 11/13/2007

MARGIN OF SAFETY : 194.83 % Long Term Growth : 7.72 % Price / Earnings : 8.1 x 14.45 / 1.78 =

Guerbet SA - France Mid&Small 190 - Health Care Equipment & Supplies ALERTS : BUY at : 105.91 EUR on : 02/27/2008

MARGIN OF SAFETY : 131.44 % Long Term Growth : 11.03 % Price / Earnings : 13.2 x 110 / 8.33 =

Hologram Indus - France Next Economy - ALERTS : BUY at : 11.01 EUR on : 2/2/2009 BUY at : 11.45 EUR on : 08/26/2008 BUY at : 11.4 EUR on : 8/25/2008 STOP at : 9.1 EUR on : 01/08/2008 STOP at : 9.1 EUR on : 24/01/2008 STOP at : 10.8 EUR on : 10/15/2007 STOP at : 10.8 EUR on : 10/15/2007

MARGIN OF SAFETY : 148.46 % Long Term Growth : 13.33 % Price / Earnings : 14.2 x 12.88 / 0.91 =

IGE XAO - France Next Economy - Software ALERTS : BUY at : 19.95 EUR on : 3/18/2009 STOP at : 18.8 EUR on : 2/2/2009 STOP at : 22.6 EUR on : 09/11/2007

MARGIN OF SAFETY : 154.23 % Long Term Growth : 11.18 % Price / Earnings : 12.1 x 20.51 / 1.69 =

Imerys - France Mid&Small 190 - Construction Materials ALERTS : STOP at : 30.96 EUR on : 11/12/2008

MARGIN OF SAFETY : 59.34 % Long Term Growth : 6.76 % Price / Earnings : 13.8 x 31.37 / 2.27 =

Ingenico - France Mid&Small 190 - ALERTS : STOP at : 12.9 EUR on : 2/2/2009 STOP at : 18.31 EUR on : 8/25/2008 BUY at : 22.35 EUR on : 6/26/2008

MARGIN OF SAFETY : 289.33 % Long Term Growth : 18.81 % Price / Earnings : 11.8 x 13.74 / 1.16 =

Installux - France (no index) - Building Products

MARGIN OF SAFETY : 159.04 % Long Term Growth : 3.56 % Price / Earnings : 6.0 x 92 / 15.25 =

Inter Parfums - France Mid&Small 190 - Personal Products ALERTS : STOP at : 23.04 EUR on : 6/19/2008 STOP at : 34 EUR on : 10/22/2007 STOP at : 34 EUR on : 29/10/2007

MARGIN OF SAFETY : 90.16 % Long Term Growth : 7.09 % Price / Earnings : 11.9 x 17.41 / 1.46 =

Ipsos - France Mid&Small 190 - Media

MARGIN OF SAFETY : 218.24 % Long Term Growth : 12.78 % Price / Earnings : 10.7 x 17.12 / 1.60 =

Jet Multimedia - France Mid&Small 190 - Internet Software & Services ALERTS : STOP at : 4.9 EUR on : 3/11/2009 STOP at : 5 EUR on : 2/2/2009 STOP at : 5.21 EUR on : 8/25/2008 BUY at : 7 EUR on : 6/2/2008 STOP at : 8.05 EUR on : 11/13/2007 STOP at : 8.05 EUR on : 11/13/2007 BUY at : 9.75 EUR on : 25/09/2007 STOP at : 9.11 EUR on : 09/11/2007

MARGIN OF SAFETY : 432.70 % Long Term Growth : 15.23 % Price / Earnings : 7.3 x 4.9 / 0.67 =

Klepierre - France Mid&Small 190 - ALERTS : STOP at : 13.07 EUR on : 3/18/2009 BUY at : 17.94 EUR on : 2/2/2009 BUY at : 16.34 EUR on : 11/12/2008 STOP at : 29.4 EUR on : 7/9/2008 STOP at : 37.82 EUR on : 28/05/2008 STOP at : 39.21 EUR on : 05/13/2008 STOP at : 39.5 EUR on : 04/01/2008 STOP at : 38.18 EUR on : 02/12/2008 SELL at : 39.89 EUR on : 08/31/2007

MARGIN OF SAFETY : 132.05 % Long Term Growth : 9.44 % Price / Earnings : 11.8 x 18.29 / 1.55 =

LaCie Group SA - France Mid&Small 190 - Computers & Peripherals ALERTS : BUY at : 3.75 EUR on : 7/2/2008 BUY at : 4.83 EUR on : 02/27/2008 STOP at : 5.02 EUR on : 01/08/2008 STOP at : 5.02 EUR on : 24/01/2008 STOP at : 6.45 EUR on : 10/15/2007 STOP at : 6.45 EUR on : 10/15/2007

MARGIN OF SAFETY : 605.15 % Long Term Growth : 13.38 % Price / Earnings : 5.0 x 2.45 / 0.49 =

LINEDATA Service - France Mid&Small 190 - Software ALERTS : STOP at : 3.79 EUR on : 2/2/2009

MARGIN OF SAFETY : 181.25 % Long Term Growth : 6.84 % Price / Earnings : 7.9 x 5.52 / 0.70 =

LISI - France Mid&Small 190 - Machinery ALERTS : STOP at : 25.6 EUR on : 2/11/2009 STOP at : 25.7 EUR on : 2/2/2009 STOP at : 36.58 EUR on : 11/3/2008 BUY at : 83.59 EUR on : 08/31/2007 STOP at : 87.9 EUR on : 27/07/2007

MARGIN OF SAFETY : 91.22 % Long Term Growth : 5.82 % Price / Earnings : 10.5 x 31.48 / 2.99 =

LVMH Moet - France CAC 40 - Textiles, Apparel & Luxury Goods

MARGIN OF SAFETY : 100.18 % Long Term Growth : 11.00 % Price / Earnings : 15.2 x 58.65 / 3.85 =

Maisons Fra Conf - France Mid&Small 190 - Household Durables ALERTS : STOP at : 15.25 EUR on : 2/11/2009

MARGIN OF SAFETY : 132.00 % Long Term Growth : 9.85 % Price / Earnings : 12.2 x 22 / 1.81 =

Manutan Int - France Mid&Small 190 - Internet & Catalog Retail ALERTS : BUY at : 59.75 EUR on : 25/07/2007

MARGIN OF SAFETY : 168.41 % Long Term Growth : 9.73 % Price / Earnings : 10.4 x 32.49 / 3.12 =

Metrologic Group - France Mid&Small 190 -

MARGIN OF SAFETY : 126.41 % Long Term Growth : 6.31 % Price / Earnings : 9.3 x 27.15 / 2.91 =

Mr Bricolage - France Mid&Small 190 - Specialty Retail ALERTS : STOP at : 9.62 EUR on : 9/15/2008 STOP at : 12.45 EUR on : 08/26/2008 STOP at : 13.35 EUR on : 8/25/2008

MARGIN OF SAFETY : 225.67 % Long Term Growth : 7.19 % Price / Earnings : 7.0 x 13.63 / 1.94 =

Neopost - France Mid&Small 190 - Office Electronics ALERTS : STOP at : 78.24 EUR on : 10/29/2007 STOP at : 78.24 EUR on : 10/29/2007

MARGIN OF SAFETY : 156.32 % Long Term Growth : 10.66 % Price / Earnings : 11.6 x 57.72 / 4.96 =

Neurones - France Next Economy - Internet Software & Services ALERTS : BUY at : 4.74 EUR on : 2/11/2009

MARGIN OF SAFETY : 142.20 % Long Term Growth : 8.60 % Price / Earnings : 10.6 x 5.2 / 0.49 =

Pernod Ricard - France CAC 40 - Beverages ALERTS : STOP at : 63.93 EUR on : 01/24/2008 STOP at : 63.93 EUR on : 25/01/2008

MARGIN OF SAFETY : 128.16 % Long Term Growth : 7.76 % Price / Earnings : 10.5 x 44.95 / 4.27 =

Pharmagest Inter - France Mid&Small 190 - Software

MARGIN OF SAFETY : 207.54 % Long Term Growth : 12.44 % Price / Earnings : 10.9 x 38 / 3.50 =

Pierre Vacances - France Mid&Small 190 - Hotels, Restaurants & Leisure

MARGIN OF SAFETY : 156.27 % Long Term Growth : 6.83 % Price / Earnings : 8.6 x 52.5 / 6.07 =

Pisc Desjoyaux - France Mid&Small 190 - Leisure Equipment & Products ALERTS : STOP at : 8.32 EUR on : 7/9/2008 STOP at : 9.64 EUR on : 6/19/2008 STOP at : 43.79 EUR on : 04/01/2008 STOP at : 11.9 EUR on : 02/05/2008

MARGIN OF SAFETY : 237.16 % Long Term Growth : 5.16 % Price / Earnings : 5.6 x 3.85 / 0.69 =

Rallye - France Mid&Small 190 - Food & Staples Retailing ALERTS : BUY at : 14.84 EUR on : 2/11/2009 STOP at : 15.22 EUR on : 2/2/2009 BUY at : 14.43 EUR on : 11/12/2008 STOP at : 30.6 EUR on : 08/26/2008 STOP at : 29.76 EUR on : 8/25/2008 BUY at : 44.79 EUR on : 6/19/2008 SELL at : 36.78 EUR on : 01/25/2008 SELL at : 36.78 EUR on : 29/01/2008 BUY at : 51.26 EUR on : 10/15/2007 BUY at : 51.26 EUR on : 10/15/2007

MARGIN OF SAFETY : 103.67 % Long Term Growth : 3.12 % Price / Earnings : 7.2 x 17.37 / 2.40 =

Robertet - France Mid&Small 190 - Chemicals ALERTS : STOP at : 86.5 EUR on : 10/02/2008 STOP at : 89.5 EUR on : 02/05/2008

MARGIN OF SAFETY : 61.67 % Long Term Growth : 4.69 % Price / Earnings : 11.1 x 70.01 / 6.33 =

Rubis - France Mid&Small 190 - Gas Utilities

MARGIN OF SAFETY : 100.88 % Long Term Growth : 6.43 % Price / Earnings : 10.6 x 47.65 / 4.48 =

Sanofi Aventis - France CAC 40 - Pharmaceuticals

MARGIN OF SAFETY : 326.34 % Long Term Growth : 11.13 % Price / Earnings : 7.2 x 43.88 / 6.08 =

Sartorius Stedim - France Mid&Small 190 - Health Care Equipment & Supplies ALERTS : STOP at : 25.83 EUR on : 8/25/2008 STOP at : 34.24 EUR on : 01/08/2008 STOP at : 34.24 EUR on : 24/01/2008 BUY at : 35 EUR on : 11/13/2007 BUY at : 35 EUR on : 11/13/2007

MARGIN OF SAFETY : 66.21 % Long Term Growth : 8.73 % Price / Earnings : 15.6 x 22.96 / 1.47 =

Schneider Electr - France CAC 40 - Electrical Equipment

MARGIN OF SAFETY : 146.95 % Long Term Growth : 12.06 % Price / Earnings : 13.2 x 54.81 / 4.15 =

SEB - France Mid&Small 190 - Household Durables ALERTS : STOP at : 18.12 EUR on : 2/2/2009

MARGIN OF SAFETY : 73.26 % Long Term Growth : 5.12 % Price / Earnings : 10.8 x 27.38 / 2.53 =

Seche Environ - France Mid&Small 190 - Commercial Services & Supplies ALERTS : STOP at : 32.42 EUR on : 11/3/2008 STOP at : 60.13 EUR on : 8/25/2008

MARGIN OF SAFETY : 155.17 % Long Term Growth : 13.01 % Price / Earnings : 13.5 x 48.7 / 3.60 =

Sechilienne-Side - France Mid&Small 190 - Independent Power Producers & Energy Traders

MARGIN OF SAFETY : 141.88 % Long Term Growth : 11.02 % Price / Earnings : 12.6 x 24.12 / 1.91 =

SII - France Mid&Small 190 - Software ALERTS : STOP at : 3.79 EUR on : 3/18/2009 STOP at : 5 EUR on : 7/2/2008

MARGIN OF SAFETY : 146.72 % Long Term Growth : 7.18 % Price / Earnings : 9.3 x 3.89 / 0.42 =

Soc Ciment Franc - France Mid&Small 190 - Construction Materials ALERTS : STOP at : 90.94 EUR on : 8/25/2008

MARGIN OF SAFETY : 93.88 % Long Term Growth : 5.89 % Price / Earnings : 10.5 x 69.84 / 6.68 =

Sogeclair - France Next Economy - IT Services ALERTS : STOP at : 30.05 EUR on : 09/06/2007 STOP at : 34.62 EUR on : 25/07/2007

MARGIN OF SAFETY : 216.85 % Long Term Growth : 9.22 % Price / Earnings : 8.5 x 15.56 / 1.83 =

Solucom - France Next Economy - IT Services ALERTS : STOP at : 12.2 EUR on : 11/3/2008

MARGIN OF SAFETY : 274.33 % Long Term Growth : 15.38 % Price / Earnings : 10.5 x 15 / 1.43 =

STEF-TFE - France Mid&Small 190 - Road & Rail ALERTS : STOP at : 27.1 EUR on : 2/2/2009 STOP at : 35 EUR on : 11/12/2008

MARGIN OF SAFETY : 100.38 % Long Term Growth : 7.93 % Price / Earnings : 12.2 x 29.41 / 2.42 =

Suez - France CAC 40 - Multi-Utilities

MARGIN OF SAFETY : 186.24 % Long Term Growth : 10.95 % Price / Earnings : 10.6 x 29 / 2.73 =

Synergie - France Mid&Small 190 - Commercial Services & Supplies ALERTS : STOP at : 8.55 EUR on : 2/2/2009 BUY at : 16.8 EUR on : 9/15/2008 STOP at : 16.7 EUR on : 8/25/2008 STOP at : 17.2 EUR on : 7/22/2008 BUY at : 19.45 EUR on : 6/19/2008 BUY at : 21.51 EUR on : 01/08/2008 BUY at : 21.51 EUR on : 24/01/2008 BUY at : 26.4 EUR on : 25/09/2007 BUY at : 27.79 EUR on : 09/06/2007

MARGIN OF SAFETY : 103.68 % Long Term Growth : 7.66 % Price / Earnings : 11.7 x 14.39 / 1.23 =

Teleperformance - France Mid&Small 190 -

MARGIN OF SAFETY : 201.45 % Long Term Growth : 10.49 % Price / Earnings : 9.8 x 20.83 / 2.13 =

Thermador Groupe - France Mid&Small 190 - Trading Companies & Distributors ALERTS : BUY at : 140 EUR on : 07/27/2007

MARGIN OF SAFETY : 351.77 % Long Term Growth : 10.52 % Price / Earnings : 6.5 x 81.4 / 12.45 =

Tonnellerie - France Mid&Small 190 - Containers & Packaging ALERTS : BUY at : 34.3 EUR on : 7/2/2008

MARGIN OF SAFETY : 233.71 % Long Term Growth : 8.76 % Price / Earnings : 7.8 x 24.56 / 3.15 =

Total - France CAC 40 - Oil, Gas & Consumable Fuels

MARGIN OF SAFETY : 99.06 % Long Term Growth : 6.31 % Price / Earnings : 10.6 x 39.69 / 3.74 =

Toupargel Groupe - France Mid&Small 190 - Internet & Catalog Retail ALERTS : BUY at : 13.35 EUR on : 2/2/2009 STOP at : 15.14 EUR on : 8/25/2008 STOP at : 27.52 EUR on : 07/27/2007

MARGIN OF SAFETY : 170.08 % Long Term Growth : 9.00 % Price / Earnings : 9.8 x 15.7 / 1.60 =

Ubisoft Entnt - France Mid&Small 190 - Software ALERTS : STOP at : 13.01 EUR on : 3/18/2009 STOP at : 11.25 EUR on : 2/2/2009 STOP at : 54.5 EUR on : 02/27/2008

MARGIN OF SAFETY : 90.52 % Long Term Growth : 13.61 % Price / Earnings : 18.8 x 14.25 / 0.76 =

Un Finan Fr Banq - France Mid&Small 190 - Capital Markets

MARGIN OF SAFETY : 68.58 % Long Term Growth : 3.16 % Price / Earnings : 8.8 x 27 / 3.07 =

Unibail-Rodamco - France CAC 40 -

MARGIN OF SAFETY : 120.60 % Long Term Growth : 9.81 % Price / Earnings : 12.7 x 114.48 / 8.98 =

Vallourec - France CAC 40 - Machinery ALERTS : BUY at : 74.77 EUR on : 2/2/2009

MARGIN OF SAFETY : 204.65 % Long Term Growth : 12.16 % Price / Earnings : 10.8 x 85.85 / 7.97 =

Viel - France Mid&Small 190 - Capital Markets

MARGIN OF SAFETY : 110.86 % Long Term Growth : 4.08 % Price / Earnings : 7.9 x 2.45 / 0.31 =

Vilmorin et Cie - France Mid&Small 190 - Food Products ALERTS : BUY at : 75.7 EUR on : 11/3/2008

MARGIN OF SAFETY : 73.28 % Long Term Growth : 8.06 % Price / Earnings : 14.2 x 63.2 / 4.45 =

Vinci - France CAC 40 - Construction & Engineering

MARGIN OF SAFETY : 100.11 % Long Term Growth : 7.27 % Price / Earnings : 11.5 x 34.3 / 2.98 =

Virbac - France Mid&Small 190 - Pharmaceuticals

MARGIN OF SAFETY : 127.68 % Long Term Growth : 9.52 % Price / Earnings : 12.1 x 52.36 / 4.33 =

VM Materiaux - France Mid&Small 190 - Building Products ALERTS : STOP at : 33.5 EUR on : 2/2/2009

MARGIN OF SAFETY : 161.57 % Long Term Growth : 9.01 % Price / Earnings : 10.1 x 40.65 / 4.01 =

Vrank Pomm Mono - France Mid&Small 190 - Beverages ALERTS : STOP at : 25.06 EUR on : 11/12/2008

MARGIN OF SAFETY : 96.14 % Long Term Growth : 4.74 % Price / Earnings : 9.2 x 23.55 / 2.57 =

Wendel - France Mid&Small 190 - Industrial Conglomerates ALERTS : BUY at : 27.22 EUR on : 2/2/2009 BUY at : 63.3 EUR on : 7/9/2008 BUY at : 73.07 EUR on : 6/19/2008 BUY at : 101.89 EUR on : 12/04/2007 BUY at : 101.89 EUR on : 12/04/2007 STOP at : 111.04 EUR on : 11/06/2007 STOP at : 111.04 EUR on : 11/06/2007 BUY at : 115.9 EUR on : 10/29/2007 STOP at : 121.25 EUR on : 10/15/2007 STOP at : 121.25 EUR on : 10/15/2007

MARGIN OF SAFETY : 896.64 % Long Term Growth : 14.71 % Price / Earnings : 3.8 x 29.15 / 7.66 =

Zodiac Aerospace - France Mid&Small 190 - Aerospace & Defense ALERTS : STOP at : 26.95 EUR on : 7/9/2008 BUY at : 33.96 EUR on : 6/2/2008 STOP at : 33.22 EUR on : 28/05/2008 STOP at : 35.24 EUR on : 02/05/2008

MARGIN OF SAFETY : 226.28 % Long Term Growth : 7.10 % Price / Earnings : 7.0 x 21.28 / 3.06 =