Boring Fights Back
Consider, if you will, the stock market’s big ups and downs lately–especially last week. No, I’m not talking about the way technology stocks cratered, then came roaring back. Rather, I’m talking about “value” investing. Less than a month ago value investing–buying beaten-down stocks that are selling cheaply relative to their profits and asset values–seemed to have about as much life as the passenger pigeon, a species that once numbered in the billions but is now extinct....