In Security Analysis, Benjamin Graham would distinguish between companies that had recently fallen in price, speaking in terms of “imaginary value disappearing” and “real value becoming unrecognized.” A successful value investor must be able to distinguish instances of the latter from the former.
In my most recent Patreon post, I focus on a company that is currently trading at 8.8x earnings and is primed for a 51% price increase upon a modest return to favor in Mr. Market’s eyes. To become a subscriber, please click here.
Originally posted 2019-03-09 14:27:40.
