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Value Investing During and After U.S. Recessions: A Historical Perspective

March 17, 2010

Since 1926, there have been 15 recessions in the United States (including the Great Depression). These 15 recessions have lasted, on average, 13 months. During these recessions, value stocks tended to perform worse than glamour stocks, falling 5.5% per year on average vs. a 2.5% average decline for glamour stocks.

Read the complete research by the Brandes Institute

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Rating: 4.3/5 (4 votes)

Comments

adamcz
Adamcz - 6 years ago    Report SPAM
Where's the rest of the article?

It doesn't explain why "value investing" should be judged by stocks trading at low multiples to book value, and more importantly, it doesn't list what multiples it chose as a threshold for assigning stocks to the "glamour" and "value" categories.

I'm not sure how a picture this incomplete could be of use to anybody.

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