not really. Value based strategies tend to get hurt pretty bad during the tail end of bull markets when euphoria starts to set in, and increases tend to be due

not really. Value based strategies tend to get hurt pretty bad during the tail end of bull markets when euphoria starts to set in, and increases tend to be due to P/E expansion and rosy predictions for the future rather than current performance, and tend to do very well after downturns and things get oversold.