In his latest column for Forbes.com, Validea CEO John Reese takes a look at a stock-picking metric that may not get enough attention: free cash flow yield.

“While it might not get the attention of EPS growth or the P/E ratio, several of history’s greatest investors have looked at free cash flow as part of their stock-picking methods,” Reese writes. “That’s because having a good amount of free cash flow allows a company to build shareholder wealth by buying back stock, increasing dividends, paying off debt, or making acquisitions.”

Reese looks at four high-free-cash-flow-yield stocks his Guru Strategies — each of which is based on the approach of a different investing great — are high on right now. Among them: AmSurg Corp., which gets high marks from his Joel Greenblatt-based model.