By Mark Hulbert, MarketWatch
CHAPEL HILL, N.C. (MarketWatch) — The announcement earlier this week that the U.S. would be suing Corinthian Colleges /zigman2/quotes/230236262/composite COCO +0.88% is just the latest blow to an already-troubled company; the company’s stock is trading for a dime a share.
Chalk another one up for the top performing advisers on whom I focus in Hulbert On Markets. Twice before in these pages (once in August 2010 and again in August 2011) I focused on the for-profit education industry, and on both occasions I reported that none of the stocks within the industry, including Corinthian Colleges, was recommended by even one of the top performers.
But what about now? Many of the top performers are contrarians, whose principle is that the time to buy is when the blood is running in the streets. Do any of them see any value in the beleaguered for-profit education industry? That’s what I focus on in this issue of Hulbert On Markets.