A Value Manager’s Nightmare – (T2 Partners)
Posted on June 04, 2012 at 12:53 PM EDT
Value managers. They hold on to the idea that a stock is cheap because of ratios such as P/E, P/S or other nonsensical notion that value can be based solely on fundamentals. But when markets are inclined to discount everything, valuation goes out the window. “Cheap stocks” are cheap for a reason. Simply they do [...]