A series of stories on extreme low PEs is interesting in that it shows two things:Firstly, that the "Rise of The Machine" has value for investing purposes (i.e. automatic selection without further human intervention, once the investment criteria rules are written).
This is currently being exploited through many semi-active and enhanced ETFs, like the Power Shares, Wisdom Tree and Claymore Investment types, and through "value screen" investing.
The second interesting thing is that extreme value situations crush market averages.
Here are the stories of John Dorfman's extreme value investing via his "Robot Portfolio":
2006 Portfolio
2005 Portfolio
2004 Portfolio
2003 Portfolio
2007 Canadian Version
I hope these stories prove useful to you.
JWThe Confused Capitalist
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