Value Investing, Evolved

CIO Austin Hawley discusses the dramatic underperformance of value stocks relative to growth stocks, why traditional definitions of value may need to evolve with the changing economy and why price is still an important factor in determining future returns. The views expressed are those of Diamond Hill as of June 2020 and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of results, or investment advice. As of May 31, 2020, Diamond Hill owned Facebook, Inc. (Cl A) (equity) and Alphabet, Inc. (Cl A) (equity). As of March 31, 2020 Diamond Hill owned Netflix, Inc. (debt). This material is for informational purposes and is prepared by Diamond Hill Capital Management. The opinions expressed are as of the date of publication and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of future results, or investment advice. Reliance upon this information is at the sole discretion of the listener. Investing involves risk including the possible loss of principal.