History rhymes, especially in markets.
At the burst of the dot.com bubble, after several years of underperformance Value stocks entered a multi-year bull market. At the end of QE, conditions might be ripe for another decade-long bull market in Value.
Remember the old Value bull market?
Value stocks were lame ducks during the dot.com bubble, underperforming Growth by a large margin. That all changed once the dot.com bubble burst. Value stocks entered a seven-year bull market that carried well into the GFC.
Then QE came and Value began losing steam once again: “once QE started, nothing that we’d been taught worked anymore. You had to buy expensive and sell cheap” said a TOGGLE user who manages money professionally.
It might be time for the pendulum to swing back in favour of Value.
Welcome the new Value bull market!
After more than a decade of underperformance, Value has started to overperform again.
Bottoming in 2021, Value has begun posting consistently positive risk-adjusted returns with limited market correlation.
Can this last?
As investors reassess what they look for in an investment security, we are possibly at the dawn of a secular bull market in Value.
Conclusion - how to buy into the Value bull market?
The S&P 500 might have entered bear market territory recently, but sections of the market had been falling for quite some time now - and some stocks have already reached secular bottom valuations.
Head to Explore and select the Value filter for US stocks, you will find 100+ opportunities with 7-star or even 8-star rankings.
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