How Wal-Mart Became a Favorite of Value Managers

Jul 28, 2005

It has been more than five years since shares of Wal-Mart (NYSE:WMT - News) peaked at more than $70 per share. Back then, the world's largest retailer could seemingly do no wrong, and its shares were priced at more than 50 times earnings. A glance at the portfolios of domestic-stock funds at the end of 1999 reveals an ownership base heavily slanted toward growth funds: Among prominent owners were American Century Ultra (Nasdaq:TWCUX - News), Janus Twenty (Nasdaq:JAVLX - News), and Vanguard U.S. Growth (Nasdaq:VWUSX - News).

http://biz.yahoo.com/ms/050728/140105.html?.v=1

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