Societe Generale’s Graham Rea deep value stock screen has been overweight on Japan for most of the year, marking it as one of the few regions where value was starting to reappear, but the screen underperformed in July, losing 0.8% in Japan compared to a 2.7% gain for the Japanese benchmark.
Graham & Greenblatt stocks long-only performance
“The good performance in recent months and the underperformance of other regions has reduced the weight of Japan in the deep-value screen to the lowest level this year,” write Societe Generale analysts Andrew Lapthorne and Georgios Oikonomou. “Nevertheless, Japan still represents the highest weight in the screen.”
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