The purchase of a bargain issue presupposes that the market's current appraisal is wrong, or at least that the buyer's idea of value is more likely to be right than the market's. In this process the investor sets his judgement against that of the market. To some this may seem arrogant or foolhardy.
I know the Virginia players are smart because you need a 1500 SAT to get in. I have to drop bread crumbs to get our players to and from class