Mind the Gap


Nicholas Tompras, Willem Schilpzand and Tim Piechowski of Alpine Capital Research explain why relative valuation makes no sense to them, why they consider one large segment of the market a bubble, why they’ve owned only 52 stocks over 14 years, and why they think Vodafone, Fairfax Financial, Humana, Sysco and JPMorgan Chase are mispriced.

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