Spano: Individual investors clearly became enamored with growth issues, and shunned value investing.
Investors became more risk-averse as the crisis took hold and they tended to shun the value category as a result.So what is driving the recent uptick in value stocks?
Amid the worry and woe, managers of three of the quarter's better-performing funds found opportunities in segments that some investors shun: hard-core value stocks, lesser-known Asian markets and biotechnology.
Lawyers from Latham & Watkins who represent the siblings say the three belong to a social group -- youths who, based on religious and family values, shun membership in a gang.
In the commercial syndrome, Jacobs identifies 15 values, including: "shun force," "collaborate easily with strangers and aliens," "be open to inventiveness and novelty," "dissent for the sake of the task," "be thrifty," "be optimistic".
But part of the value from shunning layoffs, Zore says, comes from the customer side.
When the HIV epidemic hit in the 1980s, governments in the Islamic world declared their countries were immune from the "Western" virus because of religious and cultural values shunning pre-marital sex while encouraging faithfulness.
Anticipating the environmental movement by nearly a decade, he asked, "Is the added production or the added efficiency in production worth its effect on ambient air, water and space — the countryside?"" Mr. Galbraith called for a change in values that would shun the seductions of advertising and champion clean air, good housing and aid for the arts.
Shun manages to honor both values at different moments in his dealing with the situation.
Just like the value investor who shuns the popular and expensive growth stocks in favor of the misunderstood, ignored and underfollowed issues solid companies that are under a cloud for whatever reason Billy Beane searches for the most unloved and unwanted baseball players.
