Bargain Hunting In A Soft Market

The stock market "will be a struggle" in the second half of 1996, Bill Priest says. The CEO and co-head of equity investing at BEA Associates, which manages $28 billion in assets, expects the market will soften: Earnings may not be as good as in the first six months, and the Fed may nudge up interest rates. So Priest has been scouting for companies that are underpriced relative to their cash flow and intrinsic value.

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