If there is an intellectual high in buying neglected, undervalued stocks, the joy of making money on widely followed stocks the crowd has turned against is even greater. Most often, these opportunities are the result of a short-lived earnings disappointment or unexpected calamity that leads to panic selling. Senior management is keenly aware of the disastrous consequences of even a slight negative earnings surprise.
(This story appears in the 17 August, 2012 issue of Forbes India. To visit our Archives, click here.)
\' A highly predictable business......\' aha - Aren\'t we talking of Tobacco - which is seeing a Global decline ! Sanjoy, Why do I see things differently this time...
on Aug 8, 2012