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This is a pet concept/theory of mine that I would like to throw open for discussion.It is unfortunately true that when a share looks particularly cheap there is quite often something wrong with it - bad news around the corner,etc.I have fallen victim to this on three occasions recently - Alco Holdings in Hong Kong,Bergman and Beving in Sweden,and earlier Crown Crafts in the USA.…

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This is just an anecdote,but M and S recently opened a food only store in Colindale,north London.True,there is development and increased population there,but the store is really close to an Asda superstore,and there is an Aldi superstore nearby.

I respectfully opine that there are no bargains - at least not based on normal historical yardsticks.There may be stocks made to look undervalued by current bond yields,but interest rates are being artificially suppressed.

My guess on Patisserie holdings is that it wasn't stolen from - but simply wasn't that profitable,if at all.

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