Lucky picks!
Contrarian investing works because price always overshoots value. As long as you can handle a sustained draw-down, avoid permanently distressed companies and pick accounting manipulation you will do aright. However, buying at technical lows will not work as well as buying at fundamental lows.
Here is a back test for a simple contrarian strategy compared against the S&P500 (adjusted for survivorship bias).
True contrarian stocks are hard to find (not just falling knifes). In the last 12 months I have been more active in international markets because ASX valuations are too high.
Contrarian bet on retail, page-3
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Last
88.5¢ |
Change
-0.005(0.56%) |
Mkt cap ! $741.2M | |||
| Open | High | Low | Value | Volume |
| 88.5¢ | 89.5¢ | 84.5¢ | $996.9K | 1.127M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 13760 | 88.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 89.0¢ | 10637 | 2 |
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| Last trade - 16.10pm 11/10/2024 (20 minute delay) ? |
| MYR (ASX) Chart |