Stockwatch: Is Mallinckrodt Deep Value Pharma?

At the start of the week before the Labor Day weekend stock markets soared, led by technology companies and expectations of continued growth in their lockdown-enhanced revenues. Eventually, there will be a reversal, but before a general rotation from growth to value, savvy investors will be looking at unloved stocks and sectors, like generic drugs.

In the days before I was a portfolio manager, investing styles were simplistically delineated between either growth or value. Growth investors would invest in loss-making biotechnology or technology companies whose...