Value investing – where did the value go?
It’s no secret that the last 20 years have been a troubling time for Value investors. Historically championed by some of the best and brightest in the industry, and the base formula behind Warren Buffet’s eye-watering success, it would sadly seem the strategy has lost its way of late, leaving many investors wondering “where’s the Value!?”.
Whether hunting for Value in the UK or the US since the turn of the millennium, you would have underperformed not only your Growth investor counterparts (by almost a half) but also the market itself, or the passive investor. If anything, Value funds, Value strategies and Value stocks have been nothing more than a detractor from performance, on the whole, leaving many investors disillusioned and discouraged at the thought of overpaying for the privilege of underperformance.