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An enduring investment strategy draws some brickbats but many push back
Value investing is one of the most enduring and common-sensically persuasive of all investment strategies. Nonetheless, it runs into periodic bouts of bad press. An article in
The Economist magazine in November 2020 declared that value investing was “struggling to remain relevant”, faced with issues related to the rise of hard-to-track intangible assets.
It cited the value investing principles pioneered by Benjamin Graham and promoted today by Warren Buffett. These were to look for hidden value in the form of a low price-to-book ratio, where recent profits or the book value of assets were not reflected in a commensurately high stock price.