The Globe and Mail attempts to identify companies showing momentum in three different ways, but with low beta characteristics, in its Thursday, Feb. 1, edition. The Globe's Ian Tam writes in the Number Cruncher column that this style of investment capitalizes on the crowd mentality of seemingly inefficient capital markets. For any investor that has tried this route, one of the heaviest drawbacks is high portfolio turnover, particularly in volatile markets when stocks do not exhibit a solid trend in one direction. With this in mind, this week Mr. Tam uses Morningstar CPMS to create a momentum-oriented strategy that captures three different types of momentum while still favouring companies with low beta to reduce the overall turnover and volatility of the portfolio. The strategy ranks stocks on the following factors: absolute price change from month-end six months and 12 months ago (higher figures preferred); price change relative to the sector-median price change from month-end, six months and 12 months ago (higher figures preferred); and five-year historical price beta. Mr. Tam recommends buying Enghouse Systems, Waste Connections, Martinrea International, Bombardier, Constellation Software and Stella-Jones.