Viacom: The Cheapest Blue-Chip Stock

For most of this year, it has been difficult to find stocks that could, in any way, be fairly described as “undervalued.” There have been moments when Tiffany, Hershey, and Diageo have offered a modest discount, which is actually more than any investor deserves given that the earnings quality of those businesses is so high. There have also been moments when Exxon, Chevron, and Royal Dutch Shell have gotten cheap, but the investor community didn’t quite “give away” those stocks at prices that I was hoping for when the price of oil briefly dipped into the $20s. And still others, like Wells Fargo and General Electric, are trading at a pretty fair price in relation to expected dividends and earnings growth over the next decade, but require investors to get passed the mental block of knowing that the returns could have been far superior if they had acted at any … Read the rest of this article!