Aswath Damodaran discusses the historical performance of value investing, contrasting its perceived glory days in the 20th century with its struggles in the 21st century. He analyzes traditional value screens (low PE, low price-to-book) and active value investing, finding limited evidence that active research has consistently delivered superior returns, especially in recent decades.
Source Post
Session 16 (of 42): Value Investing - Where's the beef?
Mar 24, 2026
Aswath Damodaran discusses the historical performance of value investing, contrasting its perceived glory days in the 20th century with its struggles in the 21st century. He analyzes traditional value screens (low PE, low price-to-book) and active value investing, finding limited evidence that active research has consistently delivered superior returns, especially in recent decades.
Linked Mentions
Tickers discussed in this post
Linked Signals
Tracked calls opened from this post
No linked signals were opened directly from this post.