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The Easy Money's Been Made But Still A Ton of Opportunity in Stocks

Posted Sep 23, 2009 09:59am EDT by Henry Blodget in Investing
Related: spy, dia, ^gspc, qqqq, xlf

Yes, the stock market us up 60 percent off its lows.

And, yes, you shouldn't be the bonehead who rushes in to buy just any old stock now.  "The easy money has been made," says Bob Auer of the top performing Auer Growth Fund.

But if you're careful, disciplined and avoid low quality stocks that "have had a dead cat bounce" Auer says there's plenty of opportunity in the market.

The Auer Growth Fund uses a strict screening method to find companies that are growing rapidly but trading at low P/E ratios.

Although the market's overall valuation has boomed, Bob says he is still finding good companies trading at a P/E below 12X 

There are fewer of these stocks than there used to be, but there are still some.  And buying stocks with low P/Es and high growth has helped the fund do well over the long haul (with plenty of gut-wrenching volatility).

 

 

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