Right now, they are at a 15-year low in relative valuation to the market.

This was caused by a £42.4m capital loss resulting from lower valuations within the portfolio.

If you can invest at very low valuations, returns could be even more meaningful.

"You also could see money for names that have held up well in the last 12 months and still are on low valuations," he added.

Instead of looking at what is moving up, he finds sectors with relatively low valuations.

There is a danger that the board will let companies use the lowest possible valuation.

However, $9,000 was a very low valuation for the Planter.

What exactly led to the lower valuation was unclear on Monday.

And if earnings are reduced, the stock could be assigned a lower valuation.

The ideal stock is unpopular and has low valuations, he said.