Western Asset Investment Gradeome Fund (Western Asset Investment Gradeome Fund) GF Value Rank : 0 (As of Jun. 04, 2024)

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What is Western Asset Investment Gradeome Fund GF Value Rank?

Western Asset Investment Gradeome Fund has the GF Value Rank of 0.

The GF Value Rank is determined by the price-to-GF-Value (P/GF Value) ratio, a proprietary metric calculated based on historical multiples along with an adjustment factor based on a company's past returns and growth and future estimates of the business' performance.

GuruFocus found that for valuation, we cannot simply give stocks a better GF Value rank simply because they have a lower P/GF Value ratio. Backtesting shows that over the long term, the two worst-performing groups are the most expensive group (with the highest P/GF Value ratio) and the least expensive group (with the lowest P/GF Value ratio).

We can understand why the most expensive group underperforms. We were initially puzzled by the underperformance of the least expensive group, but we realized there is a reason why some stocks are super cheap. If they look too undervalued, it is often because the businesses behind them are poor quality. The market realized this and gave them low valuations. In a way, the market is efficient.

After multiple backtesting analyses, we granted the stocks in third-cheapest percentile the highest GF Value rank, as they have performed the best over a full market cycle. Stock performance is actually not as sensitive to valuation as it is to growth and profitability. On average, the companies in the 20%-50% valuation groups have similar performances. Therefore, we should avoid the most expensive and the least expensive stocks. We can be more tolerant of valuation.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

Western Asset Investment Gradeome Fund GF Value Rank Related Terms

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Western Asset Investment Gradeome Fund (Western Asset Investment Gradeome Fund) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Western Asset Investment Grade Income Fund Inc (NYSE:PAI) » Definitions » GF Value Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

620 Eighth Avenue, 47th Floor, New York, MA, USA, 10018

Website

https://www.leggmason.com

Western Asset Investment Grade Income Fund Inc is a closed-end diversified investment company. The company designed primarily as a long-term investment and not as a trading vehicle. The fund seeks a high level of current income, consistent with prudent investment risk, through investment in a diversified portfolio of debt securities. Its portfolio is invested in securities which may be convertible into or exchangeable for, or carry warrants to purchase, common stock or other equity interests; and preferred stock.

Executives

Hoffmann Courtney A.	other: Secretary/GC Subadviser	WESTERN ASSET MANAGEMENT COMPANY, LLC, 385 EAST COLORADO BOULEVARD, PASADENA CA 91101
Andrew J. Bowden	other: COO/Subadviser	WESTERN ASSET MANAGEMENT COMPANY, LLC, 385 EAST COLORADO BOULEVARD, PASADENA CA 91101
Oliveira Marc De	officer: Secretary / Chief LGL Officer	C/O LEGG MASON & CO. LLC, ONE FIRST STAMFORD PLACE, STAMFORD CT 06902
Matthew Nicholls	other: Director of Investment Adviser	ONE FRANKLIN PARKWAY, SAN MATEO CA 94403
Jed A. Plafker	other: Director of Investment Adviser	ONE FRANKLIN PARKWAY, SAN MATEO CA 94403
Jennifer M Johnson	other: Director of Investment Adviser	C/O FRANKLIN RESOURCES, INC., ONE FRANKLIN PARKWAY, SAN MATEO CA 94403-1906
Michael Larson	director	2365 CARILLON POINT, KIRKLAND WA 98033
Ronald L Olson	director	EDISON INTERNATIONAL, 2244 WALNUT GROVE AVENUE, ROSEMEAD CA 91770
Susan B Kerley	director	51 MADISON AVENUE, NEW YORK NY 10010
Jane F Dasher	director	KORSNAT PARTNERS, 283 GREENWICH AVE 3RD FL, GREENWICH CT 06830
Christopher Berarducci	officer: Treas/Principal Finan Officer	LEGG MASON, 620 EIGHTH AVENUE, NEW YORK NY 10018
Ted P Becker	officer: Chief Compliance Officer	399 PARK AVENUE, 4TH FLOOR, NEW YORK NY 10022
Peter J. Taylor	director	2244 WALNUT GROVE AVENUE, ROSEMEAD CA 91770
S. Kenneth Leech	other: Portfolio Manager - Adviser	385 EAST COLORADO BLVD, PASADENA CA 91101
John Kenney	other: Director of Subadviser	100 INTERNATIONAL DRIVE, BALTIMORE MD 21202