…the hallmarks of what we have seen in the last few years has been rather simplistic approaches to value — price/earnings ratios, price to book value,” he said. “We need…
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Why Jeremy Grantham Is Bored with this Market
…were underpriced. “Now they have all — or almost all — converged for a few unusual moments at fair value,” he says. “A year ago, it was very easy to…
Dreman Strategy Making Big Comeback
…Fundamentals Specifically, Dreman compared a stock’s price to four fundamentals: earnings, cash flow, book value, and dividend yield. If a stock’s price/earnings, price/cash flow, price/book value, or price/dividend ratio was…
Bouncing Back Strong, Miller Now High on Tech, Financials
Bill Miller — who beat the market for a remarkable 15 straight years before struggling the last three — is bouncing back strong this year, with his Legg Mason Value…
Nygren's Three Reasons to Buy Stocks Now
…cash on the sidelines. “Before the 2008 bear market, [the ratio of money market funds to S&P 500 market value] had averaged about 18% since 1980, meaning that there was…
Tilson on the Market, Emotion, and Why Not to "Be a Hero"
In a recent interview with Steve Forbes, value investor Whitney Tilson — who called the housing bust — says that he expects it will be another 12 months before the…
Dorfman: Rally Still Has Legs
…twice book value, and 0.94 times revenue. Treasury yields remain low, he adds. Market history is also on investors’ side, Dorfman says, referring back to the “waterfall declines” trend he…
Tilson & Heins Say Financial Sector Troubles Will Linger ...
In their “Discovering Value” column in Kiplinger’s, Whitney Tilson and John Heins say they think the strong recent market rebound is overdone, because we’re not out of the financial sector…
Greenblatt on Markets, Magic Formula & More
…a conservative estimate of fair value. In other words, I usually sell too early. In addition, I may sell before an investment reaches even that discount to conservative fair value…
The Graham Approach: Still Making Hay after 60 Years
Every other issue of The Validea Hot List newsletter examines in detail one of John Reese’s computerized Guru Strategies. This week’s issue looks at the Benjamin Graham-inspired Value Investor strategy,…