Investors will always argue about growth versus value strategies. Growth strategies have trounced value for years. But with U.S. stocks near record levels, a different approach to value may serve cautious investors well.
Sean O’Hara, the president of Pacer ETFs, argues that traditional measures of value, especially book value, aren’t useful any longer because most of the value of U.S. companies is now made up of “intangible assets, including patents, networks, brand value and customer lists.”
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