Stock Screens 

Ten deep value recovery plays

Ten deep value recovery plays

As an investment style, 'value' has experienced a prolonged spell of underperformance. But once again there is talk in the market of a 'value' comeback. This claim seems to run counter to the direction of  monetary policy; rising interest rates are generally regarded as a key reason to expect 'value' to outperform whereas rates are currently heading down around the globe. But the difference between the valuation of 'value' shares and 'growth' shares is very wide by historical standards, and the end of 2019 certainly brought a 'value' fillip. A revival in the fortunes of 'value' would certainly be good news for my Piotroski screen, which focuses on buying shares that look cheap based on a classic valuation measure: price to book value (P/BV), also known as price to net asset value (P/NAV) or discount to net asset value (NAV).

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