In this session, we look at being a passive value screener, using “screens” for cheapness and quality to find the best bargains in the market. We look at earnings screens, book value screens, revenue screens and dividend yield screens, by first noting the intuition behind each screen, then the evidence on how that screen has performed over time and finally the possible weak spots with each screen. We end the session by setting up a general framework for value screening that tries to find mismatches: cheap stocks that have good fundamentals.