Finance

Underestimating the Housing Slump 

The WSJ’s James Stewart, in Personal Journal, said yesterday that a value investing strategy in mortgage banking right now is a great way to lose money: Regular readers of this column are familiar with my strategy for buying lower, selling higher, using targets on a broad market index like the Nasdaq. Recently I’ve been deluged with emails and calls asking whether I use the same strategy for individual stocks. The short answer is “no.”