My investment strategy consists of picking stocks which are mispriced by the market due to overblown short term concerns. In fact, studies have shown that investors can earn high abnormal returns applying this contrarian approach. In this article, I will provide a unique investment thesis of L brands (LB), the retailer and owner of Bath & Body Works ("BBW") and Victoria's Secret ("VS"). This opportunity is based on the market's misconception about L brands, valuing the whole company as a distressed business, while BBW is growing very strongly and should be valued more