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The Big Screen: Value Funds and the Beautiful People
Tech's collapse may have taught us a lesson, but this year's headlong rush into value funds shows we haven't learned it.
Last summer, tech and growth funds were starting to show some wear as tech stocks sagged. Returns slumped, but the funds remained bestsellers, thanks to the buy-the-dips crowd. Meanwhile, value funds kept bleeding assets.
A year later, the tide has turned: The average tech fund has lost 55% of its value. Now, all the bestselling funds are lower-octane bond and tech-light value funds. ...
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