Stock selection - Irrational exuberance or smart money?

Everyone knows the phenomenon: a stock rushes from one peak to the next despite little change in earnings and sales estimates. How is an investor supposed to deal with this? The traditional answer would be to sell the stock on apparent upward exaggerations and buy it on apparent downward exaggerations.

But is this actually a sensible way to proceed? We look at this question in an analysis and come to some very interesting conclusions. Read our latest Flash Report to find out more.