A luxury stock to buy at a high street price

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Investors have a tendency to view stocks as typical of the sector that they operate in. Usually this makes sense, since some factors, such as the macroeconomic backdrop, affect all firms, no matter how well – or how badly – they are run. 

However, when markets focus on the overall industry to the exclusion of everything else, they can overlook some excellent companies, especially if they have misunderstood the business. An interesting case in point is the retailer Watches of Switzerland (LSE: WOSG), whose shares have languished recently.



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