Research has shown that the value premium consistently produces excess returns over the long term. If true, why have value investors underperformed recently? The answer may lie in the cyclical nature of the value premium and the performance-chasing nature of investors.
Join Dr. Jason Hsu, co-founder and vice chairman of Research Affiliates, as he discusses his latest research and explains:
• Why well-documented return premia vary over time
• What drives cyclicality and what it means for investors
• How investors can successfully access the value premium
Some good stuff in this video – some slides and embed below also see – why do value investors underperform?