Carl, thanks for the support and the note. Yes, I do have some paper accounts with a few different quantitive ideas running, including the Magic Formula. Yes, I agree that I didn't give it the full try as he suggests, but I felt I had better options when I sold than putting it back in the formula.

Thanks for the link, I'll read your analysis and see what I learn! I don't have a system to backtest, so it takes me a while to see results in real time. :)