| Contrarian |
 An investment style that invests against market trends and does not follow the prevailing consensus view.
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A contrarian investor believes that the people who say the market is going up do so only when they are fully invested and have no further purchasing power. At this point the market is at a peak. On the other hand, when people predict a downturn, they have already sold out, at which point the market can only go up.
Contrarian investing also emphasizes out of favor securities with low P/E ratios.
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