BTGOF - BT Group: An 'Oasis' Of Value
Introduction
March was a month that brought some nice opportunities for value investors, who had been experiencing a type of "opportunities drought" for the previous few years. The "rain" would not last for long, though. The massive intervention of central banks and governments pushed the valuations back up to almost where they were prior to the pandemic. At the same time, the extensive lockdowns negatively affected the intrinsic value for most businesses.
Thus, the environment now has become more challenging for value investors compared to February. Public companies are generally expensive and dangerous. The options