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Ivey 2025 Value Conference – Josef Lakonishok of LSV: Major Opportunity For Active Value Managers In These Markets

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At today’s Ivey Ben Graham Centre’s 2025 Value Investing Conference, held in Toronto, value investor Dr. Josef Lakonishok delivered a powerful and data-driven talk titled “Opportunities in Equity Markets.” The co-founder and Chief Investment Officer of LSV Asset Management, Dr. Lakonishok brings decades of experience in both academia and portfolio management.

In a market shaped by index dominance, AI exuberance, and geopolitical uncertainty, Lakonishok’s core message was clear: value investing is not dead—it’s misunderstood, underutilized, and currently ripe with opportunity.

Outline of the Presentation

  1. Where are the opportunities?
  2. The dominance of the Top 10
  3. Reversals after poor performance
  4. Are money managers adding value?
  5. Persistence in growth

Current vs Historical Valuations by Size and Valuations

Market Valuation: Large vs....

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