5min chapter

The Case Against Value Investing

Two Quants and a Financial Planner | Bridging the Worlds of Investing and Financial Planning

notes

CHAPTER

The Evolution of Value Investing

This chapter explores the transformation of value investing from Ben Graham's time to today, focusing on the increased accessibility of financial data and its impact on identifying undervalued companies. It also examines the challenges investors face, including narrative manipulation by companies and the complexities of relying on price-to-book ratios.

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Transcript

Episode notes

In this episode, we tackle a question that is on many investor's minds: Is value investing dead? We explore various arguments for and against value investing's continued relevance in today's market. We discuss: The impact of low interest rates and Fed policy on value investing Whether too many investors have adopted value strategies How narrative-driven markets affect value investing The challenges value faces in a tech-dominated market The role of big data and its effect on traditional value metrics Whether value investing is betting against technological progress We aim to provide a balanced view, acknowledging the arguments on both sides. While we don't come to a definitive conclusion, we offer insights on how investors might think about value in their portfolios going forward.

We hope you enjoy the discussion.

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