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RE: The Intelligent Investor - Value Investing
| 19.06.2023, 12:25 (Dieser Beitrag wurde zuletzt bearbeitet: 19.06.2023, 12:32 von Boy Plunger.)
"Let me emphasize this point: despite the common narrative about value in economic downturns, there is simply no empirical evidence to suggest value stocks consistently underperform during recessions.”
"I’d argue that an awful lot of the pain was from growth stock valuation premia coming down because the growth stocks proved less growthy than investors had hoped."
"Since growth stocks trade at a premium to the market because investors believe they will grow strongly in the future, an event which calls that future growth into question is likely to be particularly painful since their valuation premium deserves to fall."
"It is the disappointing growth stocks that are the biggest headache for investors… Value stocks, by contrast, have the charm of low expectations."
GMO
Hintergrund: https://www.gmo.com/globalassets/article...s_6-23.pdf
"I’d argue that an awful lot of the pain was from growth stock valuation premia coming down because the growth stocks proved less growthy than investors had hoped."
"Since growth stocks trade at a premium to the market because investors believe they will grow strongly in the future, an event which calls that future growth into question is likely to be particularly painful since their valuation premium deserves to fall."
"It is the disappointing growth stocks that are the biggest headache for investors… Value stocks, by contrast, have the charm of low expectations."
GMO
Hintergrund: https://www.gmo.com/globalassets/article...s_6-23.pdf
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