Marcellus Study Belies A Traditional Value Investing Wisdom

The traditional value investor wisdom suggests buying shares of lenders with low price-to-book multiples increases chances of higher stock price returns. A study by Marcellus Investment Managers found it’s quite the opposite.An analysis of historical data by the portfolio manager revealed that investments in Indian lenders with higher-than-median P/B multiple results in higher returns, according to a newsletter published on its websi...