By focusing on dubious growth projections instead of compelling valuations, investors are setting the stage for potential pain.
Strong performance during the period was welcomed, but we remain frustrated by the persistence of what we see as a bear market in logic.
After a humbling 2018 for price-sensitive investors, will we remember the 4th quarter as marking the rebirth of value?
The rush into growth and momentum continued a familiar trend and further stretched already elevated valuations.
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