Eugene David ...The One-Minute Pundit |
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Sunday, October 26, 2008
One thing that increasingly bothers us is that "investors" (or rather, disinvestors) have thrown the proverbial baby out with the bath water. Looking at charts we're astonished how many stocks just cratered in September. We wonder if indexes like the DJIA and the S&P may actually underestimate the carnage. When a company like Pep Boys has a market cap less than the value of its store fixtures that should be a bargain, but with the disinvestors throwing stocks overboard right and left perhaps there is no rule for value.
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