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ETF Specialist

There Are Many Ways to be a Value Investor

Value investing’s strong long-term track record makes a compelling argument in favor of cheap over expensive.

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A version of this article previously appeared in the February 2021 issue of Morningstar ETFInvestor. Click here to download a complimentary copy.

The stock market provides investors with a powerful tool. According to the efficient-market hypothesis, investors’ collective buying and selling should push stock prices close to companies’ true underlying value. But pooling those opinions together is an imperfect exercise, with bubbles and crashes throughout history proclaiming its flaws.

Daniel Sotiroff does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.