Same as it Ever Was
[…] Our large-cap value strategy is not the “same as it ever was,” but it looks very attractive relative to the stock-picking disciplines we compete against. We own a portfolio that is cheaper on traditional value metrics in price than the S&P 500 Index (as cheap relatively as almost any point since inception) and most value portfolios. And we show relatively stronger balance sheets and return on equity than most of our competitors. This shows “How do we work this?” We really are very similar by metrics to where we’ve always been. We feel like we have a “large automobile,” a “beautiful house,” and a “beautiful wife.” […]
September 3, 2024
