For us value folks (and this is not original thought), I think a lot of what is causing the dislocation we have right now is the fact that folks are throwing in the towel - saying sell the laggards no matter what the price, buy me CSCO, QCOM, etc. Or saying, get me out of that horrible mutual fund, buy me Janus Mercury or the like. And, the go-go mutual fund manager throws more money at his favorites while the laggard fund manager must liquidate some of his positions.
They are treating the banks, insurance companies, companies like CTB, GT, CUM, like they are going out of business.
What happened to YUM yesterday? |
