…100% Value portfolio.” They note that value has clearly outperformed over a 90-year time-horizon and that growth has provided significantly better returns over the last 9 years, while also drawing…
Search Results for: value
Graham and Buffett Disciple Tops the Charts in 2015
…says that the American consumer “is increasingly value-conscious in an economy that is slow and steady, grinding upwards” – an outlook that fits well with her value investing approach. …
Fidelity PM Learns from Value Greats like Buffett, Graham and Klarman
Chuck Myers, who heads the Fidelity Small Cap Discovery Fund, shared some of the lessons he has learned as a value investor at the recent CFA Institute Equity and Valuation…
Bogle's Straightforward Formula for Estimating Future Stock Price Returns
The Wall Street Journal’s Money Beat column highlights the value of simplicity in investment prediction models. Profiling work by John C. Bogle, founder of Vanguard Group, that draws on historical…
Stock Market May Not be as Overvalued as Some Believe
…says, “lead me to conclude that the market, at the very least, is not dramatically overvalued” and “may not even be overvalued at all, just more highly valued.” These are:…
Behavioral Return Gap: How Investors May Lose Even if a Fund Wins
…to 2003, “value funds had annual buy-and-hold returns of 9.36%” but the “dollar-weighted” returns (those actually received by investors) for value funds were only 8.05%. Thus, “investors eliminate the long-run…
Jeremey Siegel's Market View for 2016
…earnings recovery.” He elaborated: “in the low-interest-rate environment we are in, a [PE] multiple of 18 to 20 could be considered a fair market value. If you apply that multiple…
Positioning for 2016
Patrick O’Shaughnessy of O’Shaughnessy Asset Management says “if you look historically at what broad categories do well during period of rising rates . . . value stocks tend to…
Securing Alpha From Small-Cap Stocks
…exploited.” They examine small-cap investing according to value, momentum, and quality strategies, noting that “[b]ecause small-cap stocks have high trading costs, implementation skill matters—a lot.” Thus, “[p]assive implementation of investment…
Is the Weakness in High Yield Signaling a Recession?
…High-yield bonds are issued by heavily indebted companies that are more likely to default, and declines in their value can signal a coming downturn. George Bory of Wells Fargo Securities…