What top hedge funds have been buying [Hedge Fund Wisdom] Free e-book on Texas HoldEm
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Value Opportunity Fund [Distressed Debt
Investing] Citigroup (C) offers attractive risk -
reward [Greg Speicher] Video: How Berkowitz got comfortable with Citi [Morningstar] Summary of a recent talk with SAC Capital's Steven Cohen [Dealbook] How Stevie Cohen changed my life [James Altucher] Hedge funds buying more municipal bonds [CNBC] Sum of the parts valuation of Yahoo (YHOO)[Minyanville] Buffett says pricing power more important than good management [Bloomberg] Passport Capital sees oil prices holding up [WSJ] Bank loan funds drawing interest [InvestmentNews] For more great links, scroll through this linkfest [AbnormalReturns]
Looking back through history, whenever
value stocks have gotten this cheap, subsequent long - term returns have generally been strong.3
From current depressed valuation levels,
value stocks have in the past, on average, doubled over the next five years.4 Not that we necessarily expect returns of this magnitude this time around, but based on the data and our six decades of experience
investing through various market cycles, we believe the current risk /
reward proposition is heavily skewed in favor of long - term
value investors.