Dreman gets fired

[NumquamPerdo]

http://www.nytimes.com/2009/04/10/business/10norris.html?_r=3&ref=business

 

Another good contrarian signal for value investing?

 

My apologies for linking a Floyd Norris article.

[ExpectedValue]

I think its a tough situation. I would like to know how much of a decision-making capacity Dreman was in at the fund.

 

One thing though -- the strategy of buying low PE or low P/B companies, without analyzing the 'E' or 'B' in depth would have led fund managers to make gross miscalculations on their investments... which is what we saw in situations where value investors piled into WaMu, Bear Stearns, and so on.