- Bloomberg published an article citing academic research noting firms with high expected profit growth tend to underperform
- Longtime readers of ours flagged us as we wrote extensively about this issue and how to exploit it in our 2012 paper The Siren Song of Growth
- The chart below shows the returns to firms with the highest expectations have only been better at the peak of the internet bubble
- Margin of Safety Risk-Averse Value Investing Strategies for the Thoughtful Investor, Seth A. Klarman, p. 113
- Bottom 20% of firms in the Kailash ABM Universe based on 36m trailing beta, ex-financials
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