The Persistence of Value vs. Growth in 2024
It's interesting how many still cling to the idea that value investing is somehow 'back' as a dominant strategy, especially after seeing the resilience in sectors that were, not long ago, considered highly speculative. We're seeing $TCEHY push past 58.91 today, recovering quite a bit, while the broader market keeps finding legs. It feels like the discussion around value vs. growth consistently misses the point that 'value' itself is a moving target and often just a lagging indicator of a fundamentally strong business model, not just a low P/E. Are we really going to pretend that the market isn't still rewarding growth, even if it's tempered, over deep value plays? I'm genuinely curious if anyone still thinks traditional deep-value metrics alone are sufficient for outperformance in this environment. Push back if you think I'm missing something fundamental here.
I think the 'value is back' narrative is often more about rotational plays than a fundamental shift in market dominance. Growth names like TCEHY can still show strong recovery even as the broader market finds legs, which suggests a nuanced landscape, not a simple value vs. growth dichotomy.