“If you look at technology-driven growth industries over the past two centuries — steam engines, railroads, telephony, electric power, the Internet — people become too excited about growth and overinvest in it. When the bubbles burst, markets overcorrect on the downside, even though the fundamental growth drivers may still be as present as they were before. We love to find jewels buried amid the rubble after that kind of explosion occurs.”— David Nierenberg