Buy What is Cheap : Not What is Down
If you look at stock charts and buy in the dips, are you a value investor. The answer is no. This is a short term trading strategy. Value investors are in it for the long term.
A company should be evaluated on the value it has in comparison to other companies in the industry, historical values, predicted growth, management, earnings, and a host of other factors. If you don't know what the best value stock in the industry is, then you haven't really done your homework. Many people that don't do homework simply buy in the dips and call themselves a value investor. In fact, they are not.
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