The Future of Value Investing Beyond Buffett

The State of Asset management 

There was an evident shift in  global stock markets this week with less focus on  superstars like Amazon and Alibaba. This was due to the news that two firms in the race to developing covid 19 vaccines were over 90 percent successful. Investors turned to shares of airlines, banks and oil firms on hopes of a recovery. The bounce has been a long time coming. Value stocks, which are typically asset-heavy firms in stodgy industries, have had a decade from hell, lagging behind the US stockmarket by over 90 percentage points. This has led to a crisis of confidence among some fund managers, who wonder if their framework for assessing firms works in the current digital age. They are right to worry: it needs upgrading to reflect an economy in which intangibles and externalities count for more. Subscribe to continue reading