The Best Investment Writing Volume 5: John Pease, GMO – Value: If Not Now, When?
The Meb Faber Show - Better Investing
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What Will Drive Mean Reversion for Value?
value has been losing for a long time, and valuation itself hasn't been able to arrest the under performance. A return to more normal economic times could certainly be a catitalist. But our belief in value from here is not driven by a belief in any of these potential catalists per se. We are far more confident that something will cause the turn, and any thing in particular we consider that staying on the side line until the turn is obvious is a bigger risk than entering into the trade before we are 100%. After years of disappointing investors, value just experienced its worst twelve months in history.
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