David Dreman's name is synonymous with the term "contrarian investing," and his contrarian strategies have been proven winners year after year. His techniques have spawned countless imitators, most of whom pay lip service to the buzzword "contrarian," but few can match his performance. His Kemper-Dreman High Return Fund has been the leader since its inception in 1988 -- the number one equity-income fund among all 208 ranked by Lipper...
All stock-market investors embrace the motto "Buy low, sell high." Few act accordingly, however, for to do so would require that we go against the crowd, buying stocks that are out of favor and selling Wall Street's darlings. Powerful psychological forces prevent us from pursuing a contrarian investment strategy, although it consistently beats the market, according to David Dreman, a seasoned money manager and long-time columnist for Forbes magazine....
Praise for Contrarian Investment Strategies: The Next Generation
"A generation of academic research has rested on two basic premises -- that markets are perfectly efficient and investors are rational. Only now are the Ivory Towers waking to what holders of dog-eared copies of David Dreman's original "Contrarian Investment Strategy" have long known: Both premises are wrong. Securities, at times, can be priced very inappropriately, and investors' actions,...
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