Value Funds Smashed Growth In Q3, Thanks To This Surprise Position

Value investors have been waiting patiently for their time in the sun, and it finally arrived in the third quarter. Data from Bank of America Merrill Lynch indicates that value funds significantly outperformed growth funds. Value funds have two tech bigwigs to thank for their outperformance, and maybe not in the way you’re thinking right now. Q3 hedge fund letters, conference, scoops etc Many of the hedge fund letters we covered in the first half of this year shared some similar themes. Value fund managers have been expecting the markets to shift and begin favoring their strategy for months, and…