| For Michael J. Chren, team leader for the Allegiant Asset Management Large Cap Value equity styles, value investing is a superior strategy because though markets tend to be efficient over the long term, it is critical to take advantage of short term pricing inefficiencies. His strategy does just that. Value stocks are not necessarily those with low P/Es, but those trading at least 25%
below their intrinsic value. The critical variable is how to measure intrinsic value. |
