Two working papers backing the scoring engine behind invest-like.com. Both are deterministic, reproducible, and free to download. Each has a permanent DOI, an SSRN abstract page, and a Zenodo record. PDFs are hosted here as the canonical version; the external mirrors are listed on each paper below.
A Cross-Framework Consensus Scoring System for US-Listed Equities: Methodology and Five-Year Backtest
Zaid Ghazal · Working Paper, May 2026 · 12 pages · PDF, 238 KB
This paper documents a deterministic, multi-framework scoring system that grades every US-listed operating equity against seven canonical investor philosophies: Warren Buffett, Benjamin Graham, Philip Fisher, Peter Lynch, Joel Greenblatt, Charles Munger, and Terry Smith. Each framework is implemented as a transparent pillar-weighted rubric. Beyond the seven individual scores, we define a cross-framework consensus signal as the count of frameworks scoring a given stock at B+ or better. In the canonical cohort of stocks where all seven frameworks currently grade the company at B+ or better (n=47, drawn from a universe of approximately 3,085 stocks), we observe a median five-year price return that exceeds SPY's five-year return by 73.8 percentage points, with 85 percent of the cohort posting positive five-year returns. We disclose methodological limitations including survivorship and look-ahead bias, present per-framework standalone cohort results, and discuss why an ensemble of philosophically distinct lenses might select for business quality more robustly than any single lens.
value investingquantitative scoringmulti-framework ensemblebacktestBuffettGrahamGreenblattMagic Formulafundamentalsequity screening
JEL: G11 (Portfolio Choice; Investment Decisions) · G14 (Information and Market Efficiency) · G17 (Financial Forecasting and Simulation)
Computational Implementation of AAOIFI Standard 21 for US Public Equities: A 12,500-Stock Applied Screening Study
Zaid Ghazal · Working Paper, May 2026 · 16 pages · PDF, 296 KB
This paper documents the computational implementation of AAOIFI Sharia Standard No. 21 across the full US-listed equity universe of approximately 12,500 active tickers. The methodology operationalises the four canonical tests of the standard: a primary-business activity screen against an industry exclusion list, a leverage screen requiring interest-bearing debt to remain below thirty-three percent of market capitalisation, a non-permissible-income screen requiring revenue from prohibited sources to remain below five percent of total revenue, and a liquid-assets screen. We document approximately 1,500 Sharia-compliant operating equities (a compliance rate of approximately 12 percent), compare the sector composition of the compliant cohort against the S&P 500 to characterise the structural sector tilt, and intersect the compliant cohort with the seven-framework value-investing consensus signal to test whether Sharia constraints are in tension with quality-investing constraints. The intersection produces a smaller but materially overlapping cohort, indicating the two screens are not mutually exclusive.
Sharia screeninghalal investingAAOIFI Standard 21Islamic financeequity screeningethical investingDow Jones Islamic MarketS&P ShariahMSCI Islamicvalue investing
Suggested citation format. The DOI is the canonical identifier; cite via doi.org for permanence.
Ghazal, Z. (2026). A Cross-Framework Consensus Scoring System for US-Listed Equities: Methodology and Five-Year Backtest. invest-like.com Working Paper. Zenodo. https://doi.org/10.5281/zenodo.20393518
Ghazal, Z. (2026). Computational Implementation of AAOIFI Standard 21 for US Public Equities: A 12,500-Stock Applied Screening Study. invest-like.com Working Paper. Zenodo. https://doi.org/10.5281/zenodo.20393706
Replication and questions
The scoring engine is fully documented in public source code and exposed through a public verdict API. To audit any individual stock's score, the per-ticker pages at /buffett/[ticker] are the live source-of-truth and recompute daily. For replication questions or to flag an error, email zaid@invest-like.com.
Related
/methodology- one-page summary of the 7-framework scoring system
/methodology/halal- one-page summary of the AAOIFI Standard 21 implementation
/track-record- live backtest numbers, recomputed daily