This time last year, it looked as if value was making a comeback after several years of underperformance. From January to mid-September 2016, the iShares Russell 1000 Value Index outperformed its growth counterpart by 3% and went on to finish the year nearly 10% higher. Unfortunately, this year the index has struggled to hold on to its gains. Year-to-date the value index has underperformed growth by nearly 15% as the so-called FANG stocks have surpassed all expectations. However, according to a new research report from analysts at Jefferies, there are underlying signs that growth outperformance may be built on shaky foundations as Growth Revisions are signaling a warning sign .
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