A Bit Too Much Bounce & Another Way to Lose Money in Auto Stocks

The extraordinary bounce in the US market has not gone unnoticed. Perhaps not appreciated are the spots that are bouncing the most. After a sharp selloff in the fall, culminating with the collapse in December, by some measures semiconductors stocks are now at their richest valuation versus the market. First, a look at what might have been, and may well be, the state of fundamentals for those with a valuation framework. […]