, Columnist
Exceptionalism in the Land of the Rising Stocks
Why value investing is performing better in Japan than anywhere else.
Where the value is.
Photographer: Toru Hanai/BloombergThis article is for subscribers only.
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We know people are selling stocks, particularly in the US and especially the Magnificent Seven tech platforms; what have they been buying? Value stocks — bought because they appear cheap compared to their fundamentals — have rebounded. That’s not surprising during a correction. But the way they have done so is fascinating.