There have been questions about the quality of the study, but this merely underscores one of NAS's
fundamental problems: the lack of independent,
reliable research on the effectiveness of its designs, a deficiency that allows decisions like Memphis's to be made more on the basis of politics than sound evidence about what works.
We also believe that in - depth
fundamental research, incorporating a comprehensive macro-economic viewpoint, is the most
reliable means of finding such companies and identifying where their growth is undervalued by the market.