Contrarian bets by their nature are incredibly risky propositions. Basically, if you believe in the random walk theory of market dynamics, then your target security has priced in all publicly available information. Stated differently, there are no bullish or bearish cycles – the security is priced exactly what it should be. However, a common criticism of this framework is that with so many tradeable opportunities available, it’s difficult (if not impossible) to properly assess each one. Further, if the most affluent investors – those who enjoy the most resources and access to the best informat…