contrarian策略不是在大经济趋势下滑时的抄底吗？怎么区分contrarian和deep value？

NO.PZ202207040100000302 问题如下 scribein Exhibit 1, FunA most likely follows whiinvestment strategy? A.Contrari B.ep value C.Restructuring anstresse SolutionA is correct. FunA most likely follows the contrariinvesting approach. Contrarimanagers invest in stocks with low or negative earnings or low vin. Contrarians expethe stocks to rebounonthe company’s earnings reboun Contrariinvestors often point to behaviorfinanresearthsuggests thinvestors tento overweight recent tren anfollow the crowin making investment cisions. Therefore, contrariinvestors purchase ansell shares against prevailing market sentiment. B is incorrect. ep value investing focuses on unrvaluecompanies, whiare often in financistress, thare available extremely low valuations relative to their assets. The rationale is thmarket interest in susecurities mlimite whiincreases the chanof informationinefficiencies.C is incorrect. Opportunities in restructuring anstresseinvesting are generally counter-cyclicrelative to the overall economy or a sector’s business cycle. A stressecompany thgoes through restructuring mstill have valuable assets, stribution channels, or patents thmake it attractive acquisition target. The goof restructuring investing is to gain control or substantiinfluenover a company in stress a large scount anthen restructure it to restore a large part of its intrinsic value. 题干里既然提到里companies with poor earnings performance,是不是可以理解,可以通过restructuring和stresse获利?我知道题干也提到了out of favor with the market, 但也有可能市场对其目前对表现不看好,但经过重组说不定会变好,那不是抄到底了?类似于LBO?

NO.PZ202207040100000302问题如下scribein Exhibit 1, FunA most likely follows whiinvestment strategy?A.ContrarianB.ep valueC.Restructuring anstresseSolutionA is correct. FunA most likely follows the contrariinvesting approach. Contrarimanagers invest in stocks with low or negative earnings or low vin. Contrarians expethe stocks to rebounonthe company’s earnings reboun Contrariinvestors often point to behaviorfinanresearthsuggests thinvestors tento overweight recent tren anfollow the crowin making investment cisions. Therefore, contrariinvestors purchase ansell shares against prevailing market sentiment. B is incorrect. ep value investing focuses on unrvaluecompanies, whiare often in financistress, thare available extremely low valuations relative to their assets. The rationale is thmarket interest in susecurities mlimite whiincreases the chanof informationinefficiencies.C is incorrect. Opportunities in restructuring anstresseinvesting are generally counter-cyclicrelative to the overall economy or a sector’s business cycle. A stressecompany thgoes through restructuring mstill have valuable assets, stribution channels, or patents thmake it attractive acquisition target. The goof restructuring investing is to gain control or substantiinfluenover a company in stress a large scount anthen restructure it to restore a large part of its intrinsic value.看了第一个提问的，太牵强了吧，哪里体现出contrain的

NO.PZ202207040100000302问题如下scribein Exhibit 1, FunA most likely follows whiinvestment strategy?A.ContrarianB.ep valueC.Restructuring anstresseSolutionA is correct. FunA most likely follows the contrariinvesting approach. Contrarimanagers invest in stocks with low or negative earnings or low vin. Contrarians expethe stocks to rebounonthe company’s earnings reboun Contrariinvestors often point to behaviorfinanresearthsuggests thinvestors tento overweight recent tren anfollow the crowin making investment cisions. Therefore, contrariinvestors purchase ansell shares against prevailing market sentiment. B is incorrect. ep value investing focuses on unrvaluecompanies, whiare often in financistress, thare available extremely low valuations relative to their assets. The rationale is thmarket interest in susecurities mlimite whiincreases the chanof informationinefficiencies.C is incorrect. Opportunities in restructuring anstresseinvesting are generally counter-cyclicrelative to the overall economy or a sector’s business cycle. A stressecompany thgoes through restructuring mstill have valuable assets, stribution channels, or patents thmake it attractive acquisition target. The goof restructuring investing is to gain control or substantiinfluenover a company in stress a large scount anthen restructure it to restore a large part of its intrinsic value.怎么判断的a，没看出来

NO.PZ202207040100000302 问题如下 Grasmere Asset Management Case ScenarioMorgAbernathy, Nathaniel Granville, anGabriella Carlucare analysts Grasmere Asset Management (Grasmere), investment firm thoffers a versifiemix of actively manageequity anfixeincome investment fun. The firm follows the funmentapproach, using both bottom-up antop-wn investment management strategies. The analysts meet regularly to scuss investment ianrelatetopics.The meeting begins with a scussion of the funmentapproato active equity management strategies. The analysts make the following statements:The approais a subjective investment process thuses scretion in making cisions.The portfolio manager’s selections are baseon termining a security’s exposure to selectevariables thpreits return.The construction of a portfolio is generally ne using a portfolio optimizer, whicontrols risk the portfolio level.The analysts then review Exhibit 1, whiscribes a selection of the Grasmere equity fun.Exhibit 1 Grasmere Equity Fun The analysts ma the following points about the potentiinvestments thFunB might unrtake. The funshoulinteresteininvesting in the shares of a potentiacquirer, even in a consoliting instry;taking a control position in a stressecompany’s shares selling a ep scount to its intrinsic value; ansing its expertise to make long-term investments involving companies in reorganization. Grasmere’s larger fun have himpressive long-term recorcomparewith peers. In more recent times, however, the results have been lagging. Positions have become more concentratethin the past, anthe proportion of positions unrperforming their respective instries hincrease Carlucbelieves managers mhave become subjeto two biases: illusion of control anconfirmation bias. Carlucasks Abernathy whsteps he coulrecommento aress the effeof these biases. The fintopic involves a scussion of some high-profile companies threcently releasetheir full-yeearnings results. Exhibit 2 contains market ta anfinanciprojections on three of the stocks scusseGrasmere’s analysts. They are consiring aing one of these stocks to Fun Exhibit 2 Market ta anFinanciProjections of SelecteStocks Question scribein Exhibit 1, FunA most likely follows whiinvestment strategy? A.Contrari B.ep value C.Restructuring anstresse SolutionA is correct. FunA most likely follows the contrariinvesting approach. Contrarimanagers invest in stocks with low or negative earnings or low vin. Contrarians expethe stocks to rebounonthe company’s earnings reboun Contrariinvestors often point to behaviorfinanresearthsuggests thinvestors tento overweight recent tren anfollow the crowin making investment cisions. Therefore, contrariinvestors purchase ansell shares against prevailing market sentiment. B is incorrect. ep value investing focuses on unrvaluecompanies, whiare often in financistress, thare available extremely low valuations relative to their assets. The rationale is thmarket interest in susecurities mlimite whiincreases the chanof informationinefficiencies.C is incorrect. Opportunities in restructuring anstresseinvesting are generally counter-cyclicrelative to the overall economy or a sector’s business cycle. A stressecompany thgoes through restructuring mstill have valuable assets, stribution channels, or patents thmake it attractive acquisition target. The goof restructuring investing is to gain control or substantiinfluenover a company in stress a large scount anthen restructure it to restore a large part of its intrinsic value. test test