Cliffs of Asness and Rob Arnott says that value stocks finally have room to run after years of lagging.
Although some niches of the stock market have emerged unscathed from the dizzying sell-off of 2022, value stocks – traditionally seen as those that trade at multiples low to their book value or net worth – have outperformed most. By one measure, they’re on track to beat fast-growing stocks by their biggest margins since 2001.
