operating margins and profits , page-12

ok, let me get this right, what you are saying, is that in the 80's people bought undervalued assets and sold them at a profit, once the value was realised (in that case by breaking the company up).

Because of this, we shouldnt try to buy undervalued assets because there is nothing to be gained from it?

If you arent buying undervalued assets, what on earth are you doing in the stock market?

In the past 6 months I havent traded, purely gone off identifying undervalued companies then selling when they reached more appropriate values... I'm currently up 50% in this time. Every company I pick has characteristics similiar to GDO. Good resource, debt covered, easy progression to ramping up of production in a sector that is hot.