Shares of mattress maker Tempur-Pedic (TPX) fell a whopping 48% yesterday after the company lowered its guidance for the quarter and the year. This consistent generator of high returns on both equity and capital now trades at a P/E (based on its newly-lowered expectations for the current year) of just 8! Does this represent an opportunity to buy a company with a competitive advantage at a great discount? Read more...

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