The tweet was deleted by the author.
But we saved everything 🙂.
Value investing has not faded as many market participants suggest, according to Clifford Asness. Over the past three decades, the approach has continued to deliver strong long-term expected returns. Measures of quality, such as profitability, low beta, and earnings quality, have also performed well during this period. The perspective challenges widespread views about the decline of value investing in the modern era.
Asness has previously discussed his experience starting a book on value investing during the 2000 market bubble, noting the project was not completed at that time here. He has also referred to the depiction of laws restricting business exits in "Atlas Shrugged" during U.S. regulatory discussions here. These past comments provide further context for his perspective on value investing’s resilience.