The New Search for Value
Traders Magazine, May 2002
Wow. Could value investing have had a more dramatic reversal of fortune? It was in mid-November 1999 that an earlier version of the chart over yonder first graced these pages. In other words, only about three months in advance (but only half-way there, in percentage terms) of the point of maximum pain for true believers in the value style of investing occasioned by the late, great tech bubble. Prominent among that then-dwindling band of tech adherents you could (then and now) count the estimable Philadelphia-based money management firm of Aronson + Partners, whose handiwork the chart is.
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