In his latest column for Canada’s Globe and Mail, Validea CEO John Reese looks at his top-performing Price/Sales Investor investment model, which is based on the research of Kenneth Fisher.

“In the stock market, it’s often all about earnings,” Reese writes. “But earnings don’t always tell the whole story. In fact, other yardsticks often provide a better gauge of how a company is doing.” The Price/Sales Investor model looks for stocks with low price/sales ratios (PSRs), Reese says, and then applies other financial and fundamental tests to them.

Since its inception in mid-2003, Reese’s U.S. 10-stock Price/Sales Investor portfolio has gained more than 12% annualized, nearly tripling the S&P 500. He looks at five stocks from North America that the model is currently high on. Among them: Toronto-based Bird Construction.