Research Notes: The Biggest (Earnings) Losers

Looking for value in the big sell-offs — and not seeing much

One strategy in a nervous market — and the NASDAQ Composite is down almost 5% Thursday as I write this — is to look at the biggest decliners, for stocks where market sentiment has either exaggerated longer-term risks or, in some cases, created them out of whole cloth.

This is not the only strategy, of course; focusing more intently on quality in a downt…