Also, as a value investor myself, I think the following
pair of questions is worthy
of reflection and debate: 1) Is undervaluation better thought
of as a ranking
factor or a safety
factor — e.g. should one try to pick the most undervalued stocks so they go up the most, or should I try to pick stocks with most improving outlook and use undervaluation and / or low
growth estimates as a safety net in case they blow up?