Should value investing make its long-delayed comeback, this column speculated last week, there will be lots of opportunities to test whether it works.
Let’s assume, for the sake of argument, that the growing chorus is right and that value does find favour. Even after the recent vaccine-inspired stock market rally, there are decent reasons – take your pick from synchronised global growth in 2021, a weaker dollar, rising earnings, punished bond yields and extreme investor positioning – which might mean value finally catches a bid.