Pros and Cons of Being a Value Investor Anything is Possible, but Don’t Lose Sight of the Big Picture

The Lack of Investment Fundamentals During Chaotic Times

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Baupost Group's Seth Klarman, in his most recent investor letter, described the recent tenor of the market perfectly: “The chaos is so extreme, the panic selling so urgent, that there is almost no possibility that sellers are acting on superior information; indeed, in situation after situation, it seems clear that investment fundamentals do not factor into their decision making at all.”
Source: http://www.valueinvestorinsight.com/