We have had a long-standing bias in favor of growth stocks in our global style allocation, and over the past year this has worked out well. However, we now make a case for going overweight deep value and underweight growth ….From the accompanying report:
Value has Become Synonymous with Financials
A global universe of value stocks has become synonymous with Financials, which now comprise fully 80% of deep value stocks…. This concentration of Financials in the group has reached a peak in the past year (Figure 4).
As such, a view of value necessarily comprises a view on the Financials. We think that the sector will rally from here, that it offers extreme value compared with its history….
Take-away for marketers:
1. In the digital age evidence of investment misjudgments is easy to find, hard to hide.
2. Active investment managers should market their skills with vigor, enthusiasm…and a healthy dose of humility.
O.K. Go ahead and enjoy The Mother of All Mondays.
Posts
No comments:
Post a Comment