问题如下：
The stock TMT traded on the NYSE at a price of over $90 at the end of 2015 and dropped below $50 in mid-June 2018. It declined by 40.1% in two and a half years, while the industry index lost only 5.4% over the same period. At the start of the period, TMT looked cheap compared to peers and its own history. Despite appearing undervalued, the stock performed poorly over the subsequent two-and-a-half-year period for reasons that included the need for extensive cost cutting. The above scenario is an illustration of:
选项：
A.a value trap
B.a growth trap
C.a confirmation bias
解释：
A is correct.
考点：Pitfalls in fundamental investing
解析: 价值陷阱是指价值看起来具有吸引力的股票。当一只股票由于价格大幅下跌而造成它的市盈率远低于行业平均，但鉴于未来前景不断恶化，当前这一价格可能仍被高估，就会出现价值陷阱。
视频中还特意提到一般都是P/E等乘数时，才会出现value trap。这里难道说只要是与benchmark做比较，而不一定用相对估值法，但实际上经营很差的，都可以算进value trap吗
