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Bargain Hunters, Contrarians, Cycles and Waves (Secrets of the Great…
by Del Mar
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Amazon.com Product Description (ISBN 0786165316, Audio CD)Jean Paul Getty and John Templeton are great examples of “bargain hunters” or “contrarians,” who seek to find promising stocks that are out of favor or fashion—and therefore undervalued. Slightly different are those who study cycles and waves to determine regular and (hopefully) predictable patterns of favor and disfavor in the market.
The Secrets of the Great Investors series is a collection of presentations that explain, in understandable language, the strategies, tactics, and principles that have produced great wealth, and how you can improve your financial future. History's greatest investors used powerful investing philosophies to produce superior results, and you can learn from their successes and mistakes.
(retrieved from Amazon Thu, 12 Mar 2015 17:57:44 -0400)
Contrarians and bargain hunters seek investment opportunities by departing from conventional thinking. They study the psychology of markets to exploit mistakes caused by crowd behavior (i.e. the herd instinct). A pure contrarian acts simply in opposition to everyone else; a second type questions all commonly accepted beliefs and trends, acting independently only if appropriate; a third type becomes contrarian accidentally, by following some preferred line of reasoning to its logical conclusions. Notable contrarians and bargain hunters have included Humphrey Neill, David Dreman, Richard Band, John Neff, and George Putnam. Market fluctuations have long attracted analysts who try to find predictive cycles and waves of market behavior. Well-documented cycles include: the Kitchen cycle (inventories, 3-5 years); the Juglar Cycle (fixed investment patterns, 7-11 years); and Kuznets Cycle (building patterns, 15-25 years).
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