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Ben Inker, GMO – Dispelling Myths in The Value vs. Growth Debate (The Best Investment Writing Volume 6)

The Meb Faber Show - Better Investing

CHAPTER

Growth Traps Are a Problem in Value Investing

G m o's global equity team spent four years painstakingly rebuilding the balance sheets and income statements of over ten thousand companies going back over forty years. This has not only given us improved versions of accounting based valuation models that we believe are far closer to economic reality than what is embodied in the measures used to build style indeces, but also built a forward looking dividend discount model. We think the right response to the problem is not to give up unvalue as a style, but to build better value models.

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