So, here's the latest thing that's driving me crazy about this market (and at this point, it's a REALLY short drive)...
I'm finally seeing a chance to buy really good companies like Alcon, T.Rowe Price, and the like at pretty reasonable valuations. All the while, there's a host of "okay to pretty good" companies trading at "are you >bleeping< kidding me?!?!" valuations.
It's enough to drive a value-oriented guy to the edge...
3 comments:
I think there is no true efficiency in this market and that is creating these crazy swings and T-Bills yielding what they are.The inefficiency is brought on by NO Liquidity which is sure to be improving .The conundrum is that we are just as frozen as the liqudity!
Agreed ...
Though I'm not sure about your "sure to be improving" line on no liquidity.
It'll get better eventually ... but maybe the VIX hits 100 or some simiarly once-unthinkable level first!
Good luck to us all...
s
Since you reference TROW, i agree they are are a top notch firm. Their next door neighbor, LM, is a couple notches below, but certainly worthy of a higher valuation with time. Some of these look like easy doubles in 5 years. Especially since they are asset mgrs that will receive net inflows and asset appreciation when things turn (AUM bump).
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