An excerpt I caught from Market Wire on Yahoo Finance this weekend:
QUALICUM BEACH, BC–(MARKET WIRE)–Jun 16, 2007 — Profiting from the stock market has just been made much easier. Powerful new technologies combined with proven Value Investing strategies deliver the performance most investors only dream of. With just one click you’re shown the top undervalued stocks with the greatest built-in margin of safety. “Ultimately a stock’s value depends on its fundamentals,” said Mark Hing, President of Aptus Communications. “Investors who keep their eyes firmly planted on fundamentals and remove their emotions from the investment equation are best positioned to increase their returns and minimize their risks in the markets.”
Hold on! Sticking to a pure fundamental approach is the antithesis of removing your emotions from the investment equation. Fundamental perspectives are always tied to subjective interpretations of things like balance sheets (which of course are often “massaged” into whatever number the executive wants).