TY - JOUR T1 - The Future of Value Investing JF - The Journal of Investing SP - 33 LP - 45 DO - 10.3905/joi.2000.319437 VL - 9 IS - 4 AU - Laurence B. Siegel AU - John G. Alexander Y1 - 2000/11/30 UR - https://pm-research.com/content/9/4/33.abstract N2 - While the “value” style of investing fell on hard times in 1998-2000, the cornerstone of that approach--discounted cash-flow analysis--is still a sound valuation method and can be used to calcuate the fair value of “growth” as well as “value” companies. A DCF analysis of selected companies finds the growth stocks overpriced and the value stocks underpriced. Looking forward, however, values investors may need to retool their approach to fit today's market realities, including the possibility that some declining, old-line companies that appear to be good value are not. ER -