SSGA still spies value in pricey markets

Following a strong year for equity value strategies in 2016, the erosion of that outperformance through the first half of 2017 has left value returns much on a par with growth stocks for the past 18 months. That period of value outperformance was brief in a historic context, and particularly so when viewed against a decade of value underperformance. As value investors, we naturally find this unsatisfying, but accept that market patterns rarely play out exactly as they did before.