How To Be A Value Investor In The 21st Century?

Grahamian value investing don't work anymore, Buffettology works but the alpha is limited; so, what to do instead?

One of the things that has always bothered me most on Substack and Twitter is the constant bombardment of so-called “undervalued stocks.”

If you have been a bit active on these platforms, I urge you to take a look at your home feed, and you’ll see what I mean. There’ll be dozens of “undervalued stock” pitches.

I look at them, and I can’t say all those peo…