Another Top Sign? Is Value Investing Dead?

Another Top Sign?

Is Value Investing Dead? By Ian McGugan, The Globe And Mail

Value investing isn’t dead. It is, however, comatose and surrounded by grieving relatives.

I know, I know: This is not what most value investors (and I’m one) want to hear. Benjamin Graham showed that you could have made big profits by buying cash-heavy, asset-rich stocks during the Great Depression. Ever since then, value investors have figured they could earn lush returns by loading up on stocks that are cheap in comparison to their earnings and book values. Academic research has largely concurred that value wins.

But is that true lately? Not so much. The Russell 3000 Value Index, which tracks the bargain end of the U.S. stock...