A value investor usually requires a substantial price discount at the company’s intrinsic value. But the latter exceeds the mere accounting value of its tangible assets.
A quarterly look at data and topics in the syndicated loan market.
Fundamental investors tend to be skeptical of price-based strategies, because they generally believe that markets are efficient. Yet, during certain scenarios, markets move in unexpected directions temporarily exhibiting price momentum.
Are we at the dawn of a cyclical change?