FYI: Exactly two decades ago, value investors found themselves left in the dust by growth strategies. Investors and money managers questioned whether a structural change had taken place in the markets, rendering traditional value-investing approaches obsolete. In 1999 and 2000, it got so bad that some prominent value stock-pickers threw in the towel and retired.
Of course, we all know how that bout of growth-strategy outperformance ended: with the collapse of the dot-com bubble and the subsequent decade of strong value funds. And that’s not to say the current market circumstances are the same as the late 1990s; many of the technology stocks that have led the long-running bull market are real companies with real earnings.
Nevertheless, it’s been a tough slog. Here’s how it looked as of Aug. 31, 2019:
Regards,
Ted
https://www.morningstar.com/articles/950553/value-investing-a-deep-dive-into-performance
