Deep Dive: This fund manager is finding profits in the wreckage of corporate Europe

U.S. stocks have gotten so expensive in this eight-year bull market that even value shares aren’t the bargain they usually are.

That’s why David Marcus, the CEO of Evermore Global Advisors in Summit, N.J., relishes finding companies going through a restructuring and those that “take advantage at every turn” by acquiring other businesses at low prices and making them more efficient. That way he can isolate investments that may perform better against the broad indices, some of which are trading at 15-year highs relative to earnings.

Then again, Marcus made clear that his investment style — finding special opportunities in companies undergoing transformations — has nothing to do with the performance of any index.

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