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发表于 2008-4-4 06:28 PM
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NEW YORK (CNNMoney.com)
And Auer's approach often allows him to buy formerly hot momentum stocks
that get punished for missing the Street's sometimes unreasonable
expectations.
A perfect example is the shoe retailer Crocs (CROX), which has plunged since
November after the company issued sales and profit guidance that were below
estimates. The stock traded as high as $75 last year. Auer bought it at $20
. It's slipped a bit more since then though, and now trades at around $16.
But with the company expected to report sales growth of nearly 60% this
quarter and profit growth of more than 45%, he's confident Crocs will bounce
back.
After all, with the stock now trading for just 6 times 2008 earnings
estimates, it's hard to claim anymore that Crocs is a fad stock trading at a
bubble price. Plus, he's not going to get greedy. If Crocs gets back to $40
, he's not going to hold on, hoping that it will hit $75 again.
"We only care about growth and value. The rest takes care of itself," Auer
said.
That's a sane approach in these volatile times. Any strategy that can help
investors find some bargain gems, while also avoiding pitfalls like Bear
Stearns, is a good one to pay attention to.
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