Price is what you pay, value is what you get. We all learned that from Warren Buffett who learned it from Ben Graham.
Jim Roumell believes that price is the ultimate gateway to returns. Roumell believes you are far better off to sit with cash and wait for fat pitch opportunities.
For professional investors that can be a problem because fund shareholders generally don't like to see their managers sit on cash and do nothing. Therefore, for fund managers who do sit on cash there is a risk of losing assets under management.
