Hello, everyone. Today, we are going to be going through another episode of The Asia Report. And today, I’m going to be talking about value traps. It’s a subject that comes out a lot especially among value investors. I think before I actually go into the topic deeper, it’s probably best to give a simple definition with regards to what a value trap is. A value trap is essentially a stock that appears to be cheap because the stock has been trading in low multiples of earnings, cash flow, or book value for extended periods of time. The crux though with value traps is that these stocks tend to remain cheap for very long periods of time without ever revaluing. Even though you might think that there is value there, this value is simply never unlocked. Now, I’ve heard a lot of discussions on value traps and the term thrown ......