Value investing is dead: Peter Hargreaves' stark prediction for 2021

'Old economy' will not return to previous highs

Value investing is dead, with much of the 'old economy' unlikely to return to previous highs, Blue Whale's Peter Hargreaves has predicted.

In a blog post, Hargreaves said he was "amazed" at the number of professional fund managers who "act as though the world has not changed" and "cling to the hope that the companies and industries exposed to secular decline will come back". Despite those predictions, the founder of investment platform Hargreaves Lansdown noted it was the "global leviathans" that shone through 2020. The likes of Amazon, Microsoft and Tesla saw their growth rates accelerate through the coronavirus pandemic by providing products and services critical for those working, or shopping, from home. Blue Whale...