From Dividends Value:
Getting a discount of 10%, 20% or even more is awesome. When it is on a big ticket item like a automobile, there are a lot of dollars to be saved and people have been known to drive great distances to receive the discount. Everyone loves a sale!
Well, maybe not everyone. When stocks go on sale it seems to depress a large number of market participants. However, for those of us that like buying stocks at a discount, the recent market pullback has finally provided a little relief.
My fair value model was constructed back in 2007 at a time many stocks had already fallen from grace. So as to focus on only the best companies, I took an extremely conservative stance with my model...
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