Greenblatt, Graham Screens Struggle In February
Both quality and deep value screens underperformed in February as markets recovered from a weak January and low quality stocks that had dropped off the most had correspondingly outsized gains. The big exception was Japan, where quality and value stocks had excess gains. PE multiple dispersion is still quite low on the S&P 500, and valuations are fairly high, so even if investors believe that stock picking strategies are well positioned . . .
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