Business
Value investing lost AGAIN, but it’ll be back
It’s been a rough few years for value investors.
Ever since the global financial crisis, growth stocks have easily outperformed value shares.
Many factors — such as low interest rates, technological change, and government support — have converged to form favourable conditions for growth shares.
Investors have been rewarding companies seen to be part of the future, and finding boredom in businesses that are already earning a profit.
Bank of America Corp (NYSE: BAC) even declared the death of value investing last August.
And that’s meant many value funds and their highly paid managers have underperformed, much to their professional embarrassment.
For example, in a year when ASX-listed exchange-traded funds (ETFs) saw a
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