Business
Value investing not dead, says Perpetual boss Rob Adams – The Australian Financial Review
The company is doubling down on active fund management by paying $465 million for 75 per cent of Dallas-based Barrow Hanley.
“Value as an investment approach is a very valid investment approach. What we’ve seen over the course of the last decade is the perfect environment for growth to continue to win.”
He said the underperformance of value investors was because of the “weight of money” pouring into markets from retail investors, such as “mums and dads, taxi drivers or the Jim’s Lawnmowing guys” that had pushed stocks, such as electric carmaker Tesla to trade at “ridiculous valuations”.
Morgan Stanley analyst Andrei…
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