, Columnist
Excitement Is Starting to Fade for Glamour Stocks
Pedestrian profits are winning out over seductive popularity.
When the romance wears off, there's a long way to fall.
Photographer: Jacobsen/Hulton Archive/Getty Images
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Glamour stocks may be losing their allure.
Buying profitable businesses at a reasonable price is one of the oldest and most trusted — and some might say boring — playbooks in investing. The father of security analysis, Benjamin Graham, plied the strategy, as did his protege Warren Buffett, legendary mutual fund manager Peter Lynch and countless other stock investors. But there’s been little interest in it in recent years, at least when it comes to U.S companies.