[madebylaw]

I came here to say exactly this. I have been following Buffet/Graham's value investing principles for ~ 5 years and have well outperformed the market (S&P) in that time span. If you follow their approach, it's pretty clear to see when a valuable company is being undervalued by the market (this was happening a bunch during the '08/09 financial crises).

Mind you, it's much easier to buy index funds and sit on them than actively maintaining a value portfolio which you should be re-examining every 6 months, but it can be very worthwhile.