Cheap Stocks Deserve Their Price Until Proven Otherwise

“many cheap stocks deserved to be cheap because they were attached to mediocre enterprises.”

“A "prolonged sinking spell" in a specific company was, to him, a sign of possible trouble behind the scenes. Most likely, a swoon occurred when knowledgeable insiders dumped their shares. "It probably means, as they used to say in `01' Man River,"' he told an audience, "…”