The Value factor has underperformed globally for the past 14 years, prompting some even to wonder if Value is ‘dead’. But, as our research shows, the factor’s behavior has varied starkly across equity markets and time. These differences offer clues to potential catalysts that could fuel a Value revival.
For most of the post-GFC era, Value has suffered a structural double whammy from its large overweight to badly lagging financial stocks and underweight to highflying technology stocks prized for their reliable growth prospects, particularly in the US.
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