Value Stocks: Trapped or Spring-Loaded? - Northern Trust

investing in value stocks has been a profitable investment strategy for nearly 100 years. As seen in Exhibit 3 on the next page, the annualized value premium (defined as the 20% most inexpensive stocks less the 20% most expensive stocks – as determined by price-to-book value) has equaled 3.1% since 1926 (through 6/30/2020). ................
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