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This has been another month when the market kept chasing momentum while ignoring the steady, cash-funded companies sitting in the bargain rack. These are the types of names that reward patient value investors because their asset bases usually tell a very different story than the share price.
When valuations get this compressed relative to tangible assets, replacement cost, or hard inventory, all it takes is a normal market or a mild catalyst for prices to reset sharply higher.
Below is the full update with a look at asset based valuation for each holding - as well as the two new deep value plays we’re adding to the Small-Cap Deep Value Portfolio.
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