Economics
Value Stocks Haven't Traded This Low Since the Dot-Com Bubble
- Gauge of cheap shares versus growth has hit lowest since 2000
- JPMorgan sees ‘once-in-a-decade opportunity’ to bet on factor
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The last time value shares were doing this badly compared with growth companies was in the dying throes of the dot-com bubble.
A total-return measure of value versus growth across developed markets just slumped to its lowest since 2000. That marks almost two decades since shares dubbed inexpensive traded at such depressed levels versus those with the best earnings growth.