Inflection Point?

As a value manager, these guys generated precious little in performance fees in recent years as growth portfolios left value portfolios for dead.

However, the winds of change might be blowing at long last.

If the following trend continues, then at some stage it will kick the legs out of long-duration growth stocks which would see PTM funds outperforming once again:






I'm not for a minute predicting that trend will continue (because I would have no way of knowing), but all I'm saying is that if it does continue, then it is more like than not to provide a tailwind for PTM's investment performance and,hence, its profitability.

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