Deep value investor Lee Roach: Just like trading a "phone book," you can still make a fortune from software stocks
Deep value investor Lee Roach pointed out that when the market expects a company to "immediately die," but in reality, it is only "slowly declining," the investment returns can be astonishing. Roach believes that although artificial intelligence (AI) has weakened the "moat" of software companies, it does not mean their terminal value is zero. Many software stocks' price-to-earnings ratios have fallen to levels rarely seen since the 2008 crisis
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