An interesting side effect of labelling oneself a contrarian investor is that many observers expect a constant stream of non-consensual thoughts and portfolio positions.
It is almost as though the worst offence a contrarian can make is to run with the pack. This must obviously be resisted and instead the focus should be on taking a contra view if one feels that the potential reward justifies taking the risk that inevitably comes with the position. Chatfeild-Roberts: Value investors should be in Japan As this risk/reward ratio can vary significantly dependant on the opportunity, it is often much wiser for the contrarian investor to sit on his hands rather than to play to the crowd. Happily, today is, I believe, not a time to be sitting on one's ...
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