Here’s a contest for you — since y’all did so badly on the last one — can anybody find me a value investor who isn’t saying that there’s loads of cheap stocks out there and that they’re pretty bullish over a medium- to long-term time horizon? Buffett, Grantham, and other devotees of Ben Graham all seem to be singing from the same songbook. And when there’s so much unanimity, I start getting worried. So, a few questions for value investors:
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