Long-term Value Investing Amidst Market Trends

The trend of value investing has faced challenges in the last 15 years due to the dominance of growth investing. However, there have been periods of reversal, like in 2022, showcasing the cyclical nature of the market. Big tech stocks have shown impressive growth driven by low PEs, but maintaining this growth will be reliant on sustaining earnings expansion. The key question ahead is whether these tech giants can continue growing earnings faster than the market and maintain their competitive advantages.