Value Stocks are Cheap Today vs. Historical Norm (Research Affiliates)


Chart by Research Affiliates.

Quoted, “the procyclical or trend-chasing allocation accentuates the underlying economic shocks to various investment styles as flows push valuations. In the short run, this results in self-fulfilling prophecy and momentum. In the long run, it becomes self-defeating and gives rise to mean reversion.”


Research Affiliates


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