Professor George Athanassakos explains why value investors avoid stocks with high multiples

In this editorial in The Globe and Mail, Professor George Athanassakos explains why value investors avoid stocks with high multiples.

According to his research, "historically on average, low P/E stocks have beaten high P/E stocks by about 12 per cent in Canada, and in the United States, depending on the market, by between 7 per cent and 11 per cent."