[alecco]

> ...applying the value investing style. I thought this style is pretty much dead, because market efficiency has increased compared to the times when Benjamin Graham analysed securities by hand

I thouhgt this style is pretty much dead, because the Fed is out of control stimulating the markets. Even purchasing bonds and ETFs. As if they embraced the "stonks only go up" meme.

But what about the US dollar? Hmm...

[stereolambda]

In my understanding, the fact that growth/expensive stocks rise has only an indirect influence on value/cheap stocks being worse investments. Nowadays, anyone can easily access and scan in aggregate financials and financial indicators. In the middle of the 20th century, you had to do it on paper with each stock. It was a bigger edge. So it was easier to notice something that others didn't.

Still (again, in my understanding) there's some sense in assuming that lots of cash and low debt in the company (compared to the ticker price) at least limit your downside a little, when the price is at the rock bottom. Doesn't mean there's a potential for profit, because stock prices are irrational.