Vitaliy Katsenelson’s Contrarian Edge: Apple’s iPhone8 won’t move the stock the way these drivers could

The shiny new iPhone will definitely be exciting for Apple, but it won’t move the stock as much as emerging markets and new technologies will.

For a value investor like me, it is easier to love stocks that are hated and more difficult to love stocks that are loved. Love is usually expensive, and the infatuation gets reflected in a company’s valuation. Hate, or near-hate, is cheap.

Being contrarian — taking a position that goes against the grain of commonly held opinion — isn’t easy or comfortable. Humans take comfort in consensus. We love it when the crowd agrees with us.

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