"Value investing and bad news "priced in" are two separate issues"
Explain to me how you find a company that is trading at a discount to it's intrinsic value without bad press surrounding the company? The only other way that I have found is finding under followed stocks. Please explain to me how bad news being priced in is not a large part of value investing.
"if they were GLW would not be lagging the overall markets by 25-30 percent over the past few years (when their balance sheet was even better)."
The LCD declines are driving the price down, remember, its whats being "priced in". Follow along now.
Oh boy...now it's the "Warren Buffet used that strategy" comeback:)
Value investing and bad news "priced in" are two separate issues. I have never said that Corning does not have good overall fundamentals, their balance sheet is good but an overly conservative management and flat to decreasing potentials going forward are not inspiring enough for the overall market, if they were GLW would not be lagging the overall markets by 25-30 percent over the past few years (when their balance sheet was even better).
Earnings report was not impressive imo. The street expected much more, therefore, it did not move up much. I see it will go back to low 13 or even 12's in the next few days. The market got a boost from APPLE. Take a look at the durable goods report this morning. If it does not go up more after earnings, it will go down for sure.....
SELL at this prices.
Management has already stated that they will see further reduction in glass pricing, just not as sharp a decline...not inspiring IMO (it means even lower profits than this quarter..which was down 38 percent).
"After two successive quarters of significant LCD glass price declines, we expect our price declines will be much more moderate this quarter," said James B. Flaws, vice chairman and chief financial officer, in a statement.