Three interesting points I have learnt trying to find value stocks-
Not over-paying for growth- PMS- 2Point2 Capital’s quarterly note on overpaying for growth where they mentioned Page Industries as a good example comes to mind. DMart can be added to this list as well https://2point2capital.com/blog/index.php/a2019/01/09/moat-long-runway-buy-at-any-price/
Alpha seeker Porinju got into a lot of trouble with LEEL Electricals for picking a value stock - https://economictimes.indiatimes.com/markets/stocks/news/picking-leel-electricals-was-a-mistake-admits-porinju/articleshow/67519758.cms
Interestingly he seems to be pointing out that the siphoning off of the money can only be detected through a forensic audit. He doesn’t seem to have much faith in the newly adopted IndAS accounting standards either.
Bandhan & Gruh merger doesn’t give us too much confidence on good management especially because it looks like Gruh investors have been let down by HDFC. Whether Gruh deserved this valuation is another matter.
I’m not sure there’s an easy answer to growth vs value. My best guess is to find and ride a stock with an optimal mix of growth and value in a sector that is likely to grow.
Would like comments from fellow VPers.