FYI: The current environment has been a challenging one for value investors. The bottom decile of value stocks, whether you’re looking at EV/EBITDA, P/FCF, P/E or whatever, have produced returns that badly lagged the overall market. The chart below shows that value, defined here by book-to-market, is in its longest drawdown ever, by far.
Regards,
Ted
https://theirrelevantinvestor.com/2019/08/01/a-few-charts-and-a-few-thoughts-8/
