Low Valuation Stocks Underperforming

“Investors have stopped rewarding low valuation stocks. Our Valuation Micro Equity Factor, which measures the sector-neutral performance of low vs. high valuation S&P 500 stocks, rose by 15% in 2013. This trend has reversed in 2014, however, with low valuation stocks underperforming by nearly 500 bp YTD.” (Goldman Sachs)

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