On my observation, investors are obsessed with finding cheap bargains

On my observation, investors are obsessed with finding cheap bargains. Which means they continue to look through the rubble in the hope they can find a diamond. In practice, one can only wonder how much money has been poured into mining services providers over the years past, to name but one example, with in the overwhelming majority of cases nothing to show for it. Sure, Qantas started off a cheap valuation and only a cheap stock like Toll Holdings can ever receive a take-over premium of 48%. But taking a leaf from the book (or movie) He's just not that into you, the question has to be asked: are investors not merely looking at the exception and turning it into a rule to self-delude? Consider instead the gains for expensive stocks thus far this year: up 42% for Domino's Pizza. Up 25% for Technology One. Up 15% for Ramsay Healthcare. Are investors missing the point (and the returns)? My Weekly Insights: (VIEW LINK)