Does value add value?

A study on why value investing is the way it is

Takeaway

AQR looks into the performance of value investing (bad), common criticisms of value investing (invalid), and comes up with their own explanation of why value investing hasn't worked (valid?)

Valuations

We've talked about whether investment bankers add value (probably?), whether companies add value (less than we think), and this week we'll wrap up …

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