“Value is back,” the headlines say—so investors rush from mega-cap growth into “boring” staples, utilities, and healthcare. But here’s the problem: sector labels aren’t valuation metrics. In many cases, the so-called “value rotation” is an illusion—because investors may be rotating into expensive stocks while selling the actual value hiding inside “growth.”
Lance Roberts & Michael Lebowitz break down why value and growth aren’t mutually exclusive, and why the market’s favorite shortcut—“defensives = value, tech = growth”—can lead to costly portfolio mistakes.
0:00 - INTRO
0:19 - Employment Numbers Surprise
6:01 - Why We're Setting Up for a Dollar Rally
14:05 - Gasoline Price Comparisons
15:59 - Value Stocks & Market Rotations
19:36 - Defining "Growth" vs "Value"
21:22 - Buying the Future, not the Past
22:38 - The Problem w Forward Earnings
28:06 - How Passive Flows Drive Markets Higher
32:01 - Overbought Markets Can Remain So for a Long Time
35:01 - How the Dow Industrials Have Shifted
37:57 - Employment is Not as Strong as Hoped (It's garbage)
39:57 - Expect Revisions Next Year
43:11 - Friday Inflation-Truflation Report Preview
45:34 - ISM Index Anecdotal Evidence
Hosted by RIA Advisors Chief Investment Strategist, Lance Roberts, CIO, w Portfolio Manger, Michael Lebowitz, CFA
Produced by Brent Clanton, Executive Producer
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Articles mentioned in this report:
"BLS Labor Report Defies Consensus"
https://realinvestmentadvice.com/resources/blog/bls-labor-report-defies-consensus/
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Watch our previous show, "Q&A Wednesday: You Ask 'em, We'll Answer," here:
https://www.youtube.com/watch?v=6sI0zNQTCyE&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1
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The latest installment of our new feature, Before the Bell, "Dollar Rally Risk - Overbought Markets," is here:
https://youtu.be/ioOGa5YHzDI
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