FYI: Jack Schwager, the author of Market Wizards series, when answering a question on whether value investing works, turned to the wisdom of Joel Greenblatt, one of the foremost experts on the subject.
Schwager quoted this from his interview with Greenblatt –
Value investing doesn’t always work. The market doesn’t always agree with you. Over time, value is roughly the way the market prices stocks, but over the short term, which sometimes can be as long as two or three years, there are periods when it doesn’t work. And that is a very good thing.
The fact that the value approach doesn’t work over periods of time is precisely the reason why it continues to work over the long term.
Regards,
Ted
https://www.safalniveshak.com/why-value-investing-works/
