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Byline: BOB QUICK
As portfolio manager of Thornburg Investment Management's Value Fund, Bill Fries has been managing stock-market risk using his tried-and-true principles of value investing for years.
Value investing refers to the purchase of stocks at low prices with the expectation their prices will rise to what they are worth.
But in the current depressed economic cycle, value investors misjudged how long it would take value investments to recover. Now some critics say value investing needs to be redefined.
