…(for example, different time horizons), “two parties will value [a given] stock differently.” When a fund manager evaluated on rolling three-year periods sells a stock from a currently distressed industry…
Search Results for: value
AQR's Asness on Fama, Momentum Investing and More
…implausible that ‘risk’ can explain its high average returns.” (Fama is a leading thinker on value investing who, through his theory on efficient markets, has offered that higher returns come…
Is the Value Premium Disappearing?
Nir Kaissar, founder of Unison Advisors and columnist for Bloomberg Gadfly, asks the question — does the “value premium” still exist today given the bout of value stock underperformance vs….
An Argument for a 100% Equity Portfolio
…to continue into the future, primarily that “the intrinsic value of your equity investments rises over time” due to ever-increasing economic potential driven by knowledge and technology, among other forces….
The Risk of Investing in "Smart Beta" Funds
…roughly 20% more expensive than other stocks. Arnott notes that, in the case of a smart beta fund based on low-volatility stocks, “all the value they’ve added comes from getting…
Historical Data Suggests Value Strategies Set Up for Big Time Comeback
…largely on an assessment of past market cycles. They note that although value yields superior returns long term, in six distinct periods since World War II “growth outperformed value on…
GMO's James Montier on Fed-Induced Bubbles, Alpha, and More
…noted the opportunity for value investors when such reassessment occurs. Montier also attacked the idea proffered by Larry Swedroe that markets are now more efficient and, therefore, passive portfolios…
Hulbert: Stay in Equities Through a Bear Market
…some really good values in some really great companies.” Hulbert notes that the top performers share “a bias toward value stocks,” which “historically have lost less money during bear markets”…
Value Investor Bill Miller Sees Opportunity in Low Stock Prices
Bill Miller of Legg Mason, a value investor with a strong record, told CNBC’s “Squawk Box” that it is “sort of hard to see why anyone would buy a 10-year…
Ackman's Argues the Ill Effect of Index Funds on the Market
…the market price with no view of their own on valuation; in exchange, though, they push valuations away from fundamentals and give the fundamental investors more opportunities to find value.”…