WHY STOCK PRICES DON’T MATCH REALITY

If you’re as puzzled as I am–and I’d guess, Robert Decherd is–at why Belo’s stock price has hit a four-year low (at $17.55 this morning), SMU professor Brian Bruce has the answer for you in the latest issue of DallasCEO. Bottom line: money managers move in a herd, and like most herds the financial one overreacts. Where there is overreaction by markets, real estate entrepreneur Craig Hall advises in the same issue, there is opportunity–but only for long-term investors.

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