Say I just received a $10,000 windfall from my Uncle Harry’s estate. And I want to take advantage of the fire sale that’s going on out there at the moment and invest those dollars in the shares of good companies. I promised to take you along for the ride as I find a company I want to invest in, decide if it’s a good investment, determine what a reasonable price would be to pay for its shares, buy the stock, and then discuss what determines when I should sell it.

I’m a guy who, like many of you, wants to spend as little time and effort as possible to build a portfolio of winners. I want to find a stock I can throw in a drawer and check on only once every three months, when it publishes its financials. And, I’m looking for a stock that has demonstrated its ability to double in value every five years.

Like Warren Buffett, I look for a company I’d be happy to own. I will, after all, own a small piece of that company; but my tiny share of that company will grow at the same rate as if I owned the whole thing. This is a company that has enjoyed a consistent cycle of growth which will make my investment grow.

Fortunately, there is a place where I can find literally every publicly traded company that meets my criteria. I am a lifetime member of StockCentral.com, a cyber-community of investors like me that costs its members only $39 a year to belong. Here I can find a forum for every stock I might be interested in, where investors like myself discuss their views about the company—what they know about it, and why they favor it—or not.

It’s here, also, I can find and use their unique StockCentral screener which allows me to find all of the companies that meet my criteria for quality. It’s based on up-to-date fundamental data including the growth of sales and earnings and the trend in profit margins. These are the criteria that tell us all we need to know.

Here, I enter “Acceptable” at the low end, and “Desirable” at the high end. And when I click the “Find Stocks” button, it delivers to me a list of only 124 companies today. Out of more than 8,300 publicly traded companies, these are the only ones that meet my rigid requirements. And only a few of those will be good enough to consider buying—fewer yet will be selling at a price I’m willing to pay—although, in today’s investment climate, many more will be available at a good price than the usual dozen or so when they are not unduly depressed.

A click on the “ TakeStock Quality” column header sorts them from best to worst, and I’m ready for the next step.

Next week, we’ll talk about confirming the quality and why it’s so important. Feel free to ask any questions in your comments and I’ll try to answer them before next Wednesday.

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