Facts over theory
By Kurt Jensen | September 8, 2011I found Harrison Freund's column "Reversion to the Mean" pointlessly simplistic and unacceptable. He does such a good job discrediting his own illogical statements that it is a wonder why he wrote the article in the first place. Rather than present value investing in its true light, he lumps all its iterations into reversion theory, name-dropping great investors who no doubt do a lot more research than checking P/E ratios against historical values.


