Quality strategy
Altman Z-Score
A single number, built from five balance-sheet and income-statement ratios, that estimates how far a company sits from bankruptcy — used to filter distressed names out of any other strategy.
Ongoing overlay — recheck every results season, alongside any holding periodIntermediate
Edward I. Altman, “Financial Ratios, Discriminant Analysis and the Prediction of Corporate Bankruptcy,” Journal of Finance (1968)