enVVeno Medical (enVVeno Medical) Predictability Rank

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What is enVVeno Medical Predictability Rank?

Not Rated

Warren Buffett said many times that the companies he likes are:

1. Simple businesses that he understands
2. that have predictable and proven earnings and
3. with economic moat
4. those can be bought at a reasonable price.

It is hard to quantify "simple businesses that he (Buffett) understands", so we will focus on the other three characteristics instead. In GuruFocus Research: What worked in the market from 1998-2008? Part I: Introduction of Predictability Rank, we will show that the businesses that have predictable and proven earnings are usually also simple businesses that an average person could understand.

GuruFocus conducted a back test study of Warren Buffett's strategy of "buying good companies at fair prices" for the years from 1998-2008.

enVVeno Medical Predictability Rank Calculation

In our database there are 2403 stocks that have been traded from Jan. 2, 1998 to Aug. 31, 2008. We have the complete 10-year financial data and trading prices of these companies for this period. We rank the predictability of these companies based on the consistency of their revenue per share and EBITDA (earning before interest, tax, depreciation and amortization) per share over the past ten fiscal years, and study the correlation between the stock performances and the predictability of the business.

Our study may be subject to these biases and assumptions:

Dividend yields are not counted for investment returns
Effects of price changes due to spin-offs may not be fully adjusted
Study is subjected to survivorship bias due to de-listing, bankruptcy, LBO, M&A, etc.

The correlation between business predictability and investment returns of a company is showed below.

Correlation Between Business Predictability and Investment Returns

	Predictables	Non-Predictable	All stocks
Total Number of stocks	570	1833	2403
Total Lost Money	61	830	891
Total Lost More Than 50%	18	412	430
Total Lost More Than 90%	4	86	90
Average Gain	260.6%	100.0%	138.1%
Median Gain	150.0%	13.0%	39.0%
Maximum Gain	2852.0%	11483.0%	11483.0%
Maximum Loss	-100.0%	-100.0%	-100.0%
Annualized Average Gain	12.7%	6.7%	8.4%
Annualized Median Gain	8.9%	1.1%	3.1%

For the 570 predictable companies, we have seen strong correlation between the predictability of businesses and the stock performances over the past 10 years, regardless of the valuation of business at 1998. Accordingly, we have ranked the business predictability from 5-star to 1-star, as shown in this table.

Predictability Rank	5-Star	4.5-Star	4-Star	3.5-Star	3-Star	2.5-Star	2-Star	1-Star (non-predictable)	Average among all
% Out of All 2403 Stocks	3.3%	2.9%	3.7%	3.3%	3.3%	3.7%	3.3%	76.3%	100%
% that are in Loss (10y)	3%	10%	8%	9%	11%	18%	16%	45%	37%
Average Gain (10y)	364.6%	330.9%	278.0%	235.1%	243.5%	227.8%	154.8%	100.0%	138.1%
Median Gain (10y)	238.5%	193.5%	171.0%	159.0%	132.5%	113.5%	87.0%	13.0%	39.0%
Maximum Gainer	2228.0%	2547.0%	2452.0%	2852.0%	2432.0%	1892.0%	1807.0%	11483.0%	11483.0%
Maximum Loser	-82.0%	-53.0%	-67.0%	-100.0%	-83.0%	-100.0%	-78.0%	-100.0%	-100.0%
Annualized Average Gain	15.4%	14.6%	13.2%	12.0%	12.2%	11.7%	9.1%	6.7%	8.4%
Annualized Median Gain	12.1%	10.6%	9.8%	9.3%	8.2%	7.3%	6.0%	1.1%	3.1%

For detailed information about each predictability rank, please go to GuruFocus Research: What worked in the market from 1998-2008? Part I: Introduction of Predictability Rank

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enVVeno Medical (enVVeno Medical) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » enVVeno Medical Corp (NAS:NVNO) » Definitions » Predictability Rank

Comparable Companies

Traded in Other Exchanges

5HJ:Germany 5HJ:Germany

Address

70 Doppler, Irvine, CA, USA, 92618

Website

https://www.envveno.com

enVVeno Medical Corp is a medical device company focused on the development of innovative bioprosthetic (tissue-based) devices to improve the standard of care in the treatment of venous disease. Its lead product, the VenoValve, is a first-in-class, surgical implant being developed for the treatment of severe deep venous Chronic Venous Insufficiency (CVI).

Executives

Hamed Alavi	officer: Chief Technology Officer	ENVVENO MEDICAL CORPORATION, 70 DOPPLER, IRVINE CA 92618
Francis Duhay	director	HANCOCK JAFFE LABORATORIES, INC., 70 DOPPLER, IRVINE CA 92618
Sanjay Shrivastava	director	HANCOCK JAFFE LABORATORIES, INC., 70 DOPPLER, IRVINE CA 92618
Robert Andrew Berman	director, officer: CEO	C/O ITUS CORPORATION, 12100 WILSHIRE BOULEVARD, SUITE 1275, LOS ANGELES CA 90025
Matthew Jenusaitis	director	2 GOODYEAR, IRVINE CA 92618
Robert Gray	director	70 DOPPLER, IRVINE CA 92618
Marc H. Glickman	officer: See Remarks	70 DOPPLER, IRVINE CA 92618
Biodyne Holding, S.a.	10 percent owner	13 RUE DE LA GARE, MORGES V8 1110
Craig Glynn	officer: Chief Financial Officer	70 DOPPLER, IRVINE CA 92618
Marcus W. Robins	director	C/O HANCOCK JAFFE LABORATORIES, INC., 70 DOPPLER, IRVINE CA 92618
Robert A Rankin	officer: Chief Financial Officer	9200 SUNSET BLVD., SUITE 425, WEST HOLLYWOOD CA 90069
Browston Trading Ltd	10 percent owner	P.O. BOX 20533, NICOSIA G4 1660
Robert W. Doyle	director	70 DOPPLER, IRVINE CA 92618
Robert A. Anderson	director	70 DOPPLER, IRVINE CA 92618
Susan Montoya	officer: See Remarks	70 DOPPLER, IRVINE CA 92618