Hedge fund manager Joel Hirsch says investors should look to “boring” companies for the next wave of investing opportunities.
He tells Investment News:
“These kinds of companies are really not being valued the way they should be because everyone is looking to get in on the high cyclical trades of things they think will pop when the economy turns,” he said. “But most of those kinds of companies have already seen their big gains.”
So what counts as boring? Hirsch, the manager of New Millennium Fundamental Fund, is long on Lowes (LOW). He is holding onto the home appliance chain expecting a housing recovery that he says “might take a couple of years.”
Read the full story.