That's because only 130 of the SET's 336 listed companies have analyst coverage. Most of the market's stocks are both small cap and neglected. That obscurity can be an opportunity. David Loomis, the head of research at Vickers Ballas Thailand, agrees. To be sure, such bargains aren't wart-free.
Liquidity is one.
Many stocks don't trade for days, even weeks. Another issue is that Graham and Dodd never had to worry about currency or country risks. But these may be manageable. The lowest that Thai baht has ever traded was 57 to the dollar in January 1998. Today, after hitting a high of 36 in December 1998, it is at 46.