A recent CNBC article reports that, according to Goldman Sachs, there’s still life left in a value investing strategy, especially with the Fed set to cut rates again. 

Goldman says that value stocks are poised for a comeback, adding that the valuation gap between expensive and cheap stocks is the widest it’s been in nine years.

The article offers insights from the firm’s chief U.S. equity strategist David Kostin, who said in a recent note, “A wide distribution of price-to-earnings multiples has historically presaged strong value returns. However, a rotation into value stocks would require a sustained improvement in investor economic growth expectations, potentially driven by global monetary policy easing.”

The article argues that the tide could start turning for value stocks as “an easier monetary policy from the Federal Reserve would give a boost to growth expectations.” It adds that Goldman has screened for value stocks with “a quality overlay” in the form of a high Sharpe ratio—a measure of a stock’s performance relative to its volatility—for “optimistic investors who want to bet on value’s grand comeback.”