Stock price volatility vs fundamentals

Listening to Value Investing Podcast and heard an interview with Lauren Templeton & Scott Phillips about stock proce volatility vs fundamentals.

Here is an except from a Financial Times article by Phillips I found that summarizes the point:

"According to long-term research conducted by Robert Shiller, measuring the ratio of stock price volatility relative to fundamentals, stock prices are 14 timesmore volatile than the underlying fundamentals (measured by long-term dividends). For a value investor who can stomach this volatility, this means 14 times the opportunities to make a wise long-term purchase."

Source: 

http://www.ftpress.com/articles/article.aspx?p=1626977