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  • Value, quality, or growth: who was right?

    Value, quality, or growth: who was right?

    The efficient market hypothesis says you cannot beat the market. Graham, Buffett, and a lineage of growth investors spent decades saying otherwise. So I ran the experiment: grade 250 S&P 500 companies on value, quality, and growth signals, point-in-time, and let a predictive database score all three philosophies against twelve years of real outcomes. The answer surprised the value investor who built it.

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Add the predictive half this afternoon.