Right now bonds should come with a warning label.
A month ago or so, we were talking about whether value investing still works or whether it's been driven out of the market. Megan McArdle writes:A few years ago, when I went to Warren Buffett's annual meeting, I talked with a lot of value investors who said that the proliferation of stock screening tools had made it much harder to find the sort of stock bargains that had driven Buffett's early success; if anything was conspicuously undervalued, other investors quickly found it and drove the price up. That means you have to work harder (and pay more) to make wealth multiply itself.So at least some people believe it's close to a tapped-out strategy.
I saw that!
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