Are we at the dawn of a cyclical change?
A value investor usually requires a substantial price discount at the company’s intrinsic value. But the latter exceeds the mere accounting value of its tangible assets.
In this study, Ossiam has run two conditional models regressions of the Shiller Barclay's CAPE® US Sector Value Strategy over standard factor models and considered the regime-dependend nature of the Value premium.
Has stock picking in the US equity market become too complex that investors have finally decided to look at this asset class only through the lens of passive investment?