A Momentous Shift
Given the decade-long performance leadership of large, growth-oriented companies, Sapience like many others in the investment world are expecting better relative returns for value stocks in the near to medium term. We believe the odds, given the equity market scenario today, favor a rebalancing between growth and value exposures. Q3 2021 hedge fund letters, conferences and more We are ardent believers in David Swensen’s quote from his epic book, Pioneering Portfolio Management: ”Casual commitments invite casual reversal, exposing portfolio managers to the damaging whipsaw of buying high and se...