Reports of the death of value investing have been greatly exaggerated?
Investors and market participants have lately been asking us whether value investing is dead. While we firmly believe that value investing is alive and well and we are as committed to it as ever, we have seen some value investors starting to change their strategies to other approaches that have delivered stronger performance in recent times. This is not abnormal. Over the years, various value investment managers and their strategies have fallen out of favour from time to time. This is unfortunate as the reality is that over the long term, value investing has proven to outperform other investment approaches.