Benjamin Graham, the father of value investing and mentor of Warren Buffett, defined a simple fair value from earnings and book value. This screen lists stocks on the London Stock Exchange whose price is at least 20% below the Graham Number, the square root of 22.5 times earnings per share times book value per share, and whose current ratio is above 1.5, one of Graham's tests for a defensive investor, biggest discount first. LSE prices are quoted in pence, and the list skips thinly traded shares.
