The phrase "Value investing is dead" is a decades-old inside joke. One can google it. Value & growth strategies oscillate. When then persist in one state too lo

The phrase "Value investing is dead" is a decades-old inside joke. One can google it. Value & growth strategies oscillate. When then persist in one state too long people who haven't been around as long (or who are selling something) make grandiose proclamations. It's a fundamental reality related as much to the business cycle as it is to the human condition/psychological cycle of investment. An investment is worth the value of its future cash flows discounted by the risk free rate (plus terminal value). That's it, it's all that 90% of people need to know. There are many, many unknowns in that statement, which makes it a market.