Lehman Brother’s is out with their annual "10 Uncommon Values" portfolio.
This year’s list:
Applied Materials (AMAT)
Bed Bath & Beyond (BBBY)
Dow Jones (DJ)
Freddie Mac (FRE)
Phelps Dodge (PD)
The list comes from the best bottom-up picks of Lehman’s 89 equity analysts. Lehman’s website notes: "In its 56-year history, the 10 Uncommon Values Portfolio has significantly
outperformed the S&P 500 Index."
Dow Jones that the firm says the portfolio has outperformed the S&P 500 73% of the time, and delivered a 14.3% average annual return vs the S&P’s 8.2%.
There is actually an
ETF Index for this: UVI
Not too shabby
Lefsetz observes that "Conventional wisdom is the content companies won, P2P lost. The Grokster decision was heralded as a great day in the fight against file-trading and the establishment of legitimate online services.
The only problem is this is not what Justice Souter’s opinion said.
Justice Souter questioned whether file-trading was even hurting the labels. He restated the essence of Sony Betamax. The judgment didn’t turn on broad intellectual property issues, rather the decision took the form of castigation and liability for heinous behavior."
Below please find from Souter’s decision the actual behavior of Grokster and Streamcast: