Joe Granville recently predicted DOW to drop by 4000pts. Today I came across contrarian investor David Dreman saying stocks have never been so cheap since 1982
So now we have one that offers a technical take and now David Dreman offers a fundamental take
- People currently do not want to be in the market because they think this depression like scenario will continue
- Stocks are very very cheap
- Low PE, Low PTB and High Yield tend to outperform the markets
- Great food, tobacco companies can go out of favor in secular bear which provides a great buying opportunity
- His new matrix discussed in the book
- Diversification important have ever been
- Small caps will out performed and do better
- Psychological – The more we like something the more we are willing to pay and up to 100 times earnings
- Lessons from 2008 bear
- If there is a loss don’t buy
- Financial stocks are difficult to evaluate
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