http://www.cfapubs.org/doi/pdf/10.2469/cfm.v25.n5.10
did anyone else enjoy reading this?
Link didn’t work.
hm it works for me, opens a pdf…try this link and click on ‘read’
Ah, if it goes straight to a PDF, it might have been the browser I used. One of them doesn’t do well with direct links to PDFs.
This was an interesting writeup but I think the analyst may be overlooking great opportunities with his approach of not knowing the security names. Furthermore, I think his policy may backfire because although he attempts to be devoid of emotion, other securities trade strictly from a behavioral standpoint, and although his valuation may be the the instrinsic value, a large divergence may present itself. At the end of the day, the role of the analyst is to make money, not to be the enforcer of efficient markets.