Updated from 8 a.m. EDT

In the early 1940s, famed value investor Sir John Templeton bought 100 shares of each publicly traded company trading for less than $1 per share. At the time, the economy was in a depression, employment was out of control, and the stock market was a scary place for investors.

Fast-forward four years and Templeton was up more than 400% on his investment, solidifying him as one of the greatest value investors of all time.

As the brutal bear market takes its grip throughout the world's economies and a record number of stocks are now trading below $1 per share across various indices, we are going to attempt to replicate Sir Templeton's strategy. The goal here is not to find stocks that could go up 20% or even 50% but to find stocks that could go up 500% to 1,000% in relatively short order.

Such a task is never easy, but with a little bit of luck and a lot of hard work, these depressed, beaten-down stocks could yield Templeton-esque returns.

Let's take a look at Selectica ( SLTC), which lately was trading up 4 cents, or 8.7%, at 50 cents a share.

To read more, visit Stockpickr.com.

Who's on Stockpickr Answers? Dan Fitzpatrick will be on Stockpickr Answers on April 14 to respond to investing and trading questions posed by members of the Stockpickr community. Not a member? Join the Stockpickr community today -- free.

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