With markets reaching these levels, value investors will start to feel very lonely. Just a matter of time before ppl start moving to growth as value investments get harder and harder to come by. Just my experience so far.
With the growth rate in the TSX this past year, I’m almost certain there will be a pull back sometime within the next year.
Value investing has been stuck in its own private secular bear market. The 1970s and early 1980s were the Golden Age of value investing.
So is this CFA credential dead? Should we all become CMT’s?
Screw anything that isn’t value investing, arbitrage or spread scalping. For the rest there are casinos. At least you get to have fun there.