Some investors feel stock prices are driven by investor expectation. As long as such fundamentals as earnings and cash flow unfold as expected, prices will continue to rise. But at the first sign of disappointment, some portfolio managers will sell quickly—sometimes within minutes of a press release indicating lower-than-expected quarterly earnings. As business momentum builds, these managers hold. But when momentum is interrupted, they sell. They often describe their style as “buy high, sell higher”. (See also Sector Rotation Investing and Value Investing.)
Money Reporter •2020-10-27 •
In our view, a more important factor than style, declared or otherwise, is a manager’s discipline to his or her particular set of decision-making criteria.
Value investing and growth investing. In Read More
