Which valuation metric is best? In his latest for Canada’s Globe and Mail, Validea CEO John Reese looks at just that question, weighing the pros and cons of several popular metrics.

“So, which is best?” writes Reese. “That’s a trick question. Over more than a decade of using my Guru Strategies, I’ve found that it’s best to use multiple metrics when analyzing a stock. That’s what three of my top performing strategies do. … And my Top 5 Gurus and Hot List approaches both use multiple strategies to pick stocks, meaning that they are employing a number of different valuation metrics.”

Reese also talks about how the work of James O’Shaughnessy supports the notion of a multi-metric approach. And he looks at a trio of stocks whose valuations look attractive on multiple levels.