Empty shelves.

This article presents information related to value investing and money market, by profiling William Sams, manager of the FPA Paramount Fund. In the bear market of 1973, young money manager William Sams lost 43% of the $60 million entrusted to him. Sams is a value investor, meaning he prefers defensive stocks trading at low multiples of their earnings and book value. Two such stocks he's bought recently are Wendy's, the hamburger chain and Unifi, a processor of polyester fiber. In a bad market Wendy's, trading at 18 times trailing earnings, should hold up better than McDonald's at 26 times.