Focusing on undervalued stocks can be a rewarding investment strategy, but value investing is not as simple as finding the stocks trading at the lowest valuations, buying them, and waiting for big returns to come rolling in. Plenty of value and deep value plays can be best described as “value traps.” Those are stocks that look cheap on paper, yet fail to appreciate in value, as issues such as lack of growth, legal liabilities, or other headwinds keep investors away. However, alongside these “value traps,” a ...