Value Investing: Digging Manager Graveyards Since 1900

Value Investing: Digging Manager Graveyards Since 1900 by Wesley R. Gray, Ph.D., Alpha Architect  Author, Quantitative Value: A Practitioner’s Guide to Automating Intelligent Investment and Eliminating Behavioral Errors

Following value strategies can be hazardous to one's wealth in the short run.

Oil stocks are a great example of the challenge value investors face:

The stocks are down big--and getting cheaper--but could go down even further!

Successful value investors are able to buy and hold cheap stocks for a number of years and avoid short-run noise.

However, if you are an emotional and impatient investor, you should think twice before you invest in a value strategy.

Here is an article we wrote on this subject:

• Value Investing: Can You Withstand the Pain?

We...