Stick to What You Know Look Down Before Looking Up

Capitalizing on Low Expectations

We like it when expectations are very low and we have a contrarian view on a broader issue impacting the company. Low expectations help limit the down side and can result in prices that leave you paying nothing for the upside if good things happen. As Joel Greenblatt, who is one of my oldest friends, always says, “If you don't lose money, most of the remaining alternatives are good ones!”