In his last column, Dorfman sums up what he has learned from nine years of intensive research of many investment strategies. I have extracted the first four points to preserve for posterity. They are deceptively simple, but I think they are extremely important:
One: Out-of-favor stocks are the best road to capital gains.
Two: Don’t be swayed by what Wall Street analysts say.
Three: High portfolio turnover is not necessary for good results.
Four: The investment value of a stock is independent of whether it has been moving up or down.
