It has been well documented how momentum and growth investing have outperformed value as an investment style for most of the past decade.
Over the past 18 months, for example, the MSCI World Growth index has outperformed the MSCI World Value index by more than 19%. What is even more concerning, is that when stripping back the performance of the best-performing major indices (particularly those in the US), a large percentage of that performance came from a narrow band of stocks, predominantly within the technology sector. Rathbones' Coombs: FAANG hype 'feels like dotcom mania' As value investors, all we can do is stay patient and true to our investment style, screening and buying stocks that look intrinsically cheap...
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