Lesson 14: Common Valuation Traps. The thesis sounds tidy. The pieces it leaves out are usually what kills you.
It looks cheap. Why hasn't it been bought?
A bargain in a crowded industry should make you pause.
Assessment
A stock looks obviously cheap, sitting in an industry full of tough competitors. Before you buy, what's the most important question to ask?
Cheap, in a crowded industry 🤔