BEN was another one that I saw a stock guy writing an article about it being a “value trap”. I laughed at it too. Meanwhile, just a day or two after he wrote it…BEN breaks out to another recent high and is up 5% on the day.
Long, boring ranges breakout into long, strong trends. Tons of stock guys don’t know that and they just see it as “dead money”. BEN is in a strong wave 3 higher now.
Never forget the lie/misleading of the media when they said that pretty much everyone is indexing now, so who needs a money manager…thus BEN should be on its way out and not doing well, based off of that. They were wrong.
How did we know they were likely getting it wrong? We saw BEN’s fundamental shape. We knew how much they were bringing in, in earnings. We knew how cheap they were, P/E wise and we knew how horrible the sentiment was toward companies that managed money. So, it was the prime time to be a buyer, even though it didn’t “feel like it” to anyone.