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Hedge Fund Manager Says Stock Price Gap Is Chance of Decade

  • London-based Kairos Pegasus bets on value shares with catalyst
  • Value stocks continue to underperform this year on growth woes
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The stock market’s near-historic gulf between the priciest and cheapest stocks creates the opportunity of a decade for investors, according to a portfolio manager at the Julius Baer Group Ltd.-controlled Kairos Investment Management Ltd.

Even as this year’s rally added $9 trillion to the value of global equities, outflows have continued, preventing pockets of the market from erasing December’s sell-off and expanding a gap in valuations between some stocks.