The Evolution of Value Investing: Past, Present and Beyond

Abstract

Considering the popularity of value investing, it is somewhat surprising that a paper recently published by Joseph Calandro in the "Journal of Investing" (Spring, 2014, pp. 7-16) was the first formal attempt to categorize the development of this highly-effective and influential school of thought over time. This article summarizes that categorization of value investing’s past and present, and it then offers suggestions on what the future of value investing may hold, most especially in the area of corporate management. Applications of value investing theory to the areas of corporate risk management and M&A are presented and discussed.

Note: The paper can be downloaded from the research page of the Gabelli Center for Global Security Analysis at Fordham University.

Keywords: value investing, corporate management, risk management, M&A

JEL Classification: B29, G19, G28