AQR Capital founder Clif Asness says that investors should commit a "sin" and increase their allocation toward value stocks.
"If you believe, as we do, that value is a good long-term strategy, and an important part of an investment process, we would recommend a modest extra amount of value than the norm," he said. For years Asness, whose quant fund takes a factor-based approach to investing, has cautioned against betting on value stocks. The assertive hedge fund billionaire also preaches against trying to market time. But on Thursday he said that while value stocks have been under pressure for ten years, the last two years have not been justified and it may be time to buy some more."We think the first eight-plus years of value's recent 10-year losing streak were 'rational' ...
Value investing is a tried and true method of stock picking where the buyer evaluates the fundamentals of a company. If the market is pricing the security below what the investor has deemed to be the company's intrinsic value, then the stock is a buying opportunity. Berkshire Hathaway's Warren Buffett is one of the most well-known value investors.
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