KEY POINTS
The long period of low interest rates is the first culprit to blame for the demise of value investing, according to AB Bernstein.
“The outperformance of value might require higher interest rates, which could be structurally difficult to achieve in the foreseeable future,” said Inigo Fraser-Jenkins, Bernstein’s head of European quantitative strategy.
Technology has disrupted industries in a way that may permanently destroy “moats” that used to exist around certain industries, the analyst said.
Bookmarks