Mandate Research: Styles of equity management - Value investing - Champions of value keep eyes...

The value approach to equity investing has its fair share of critics, some who claim it is past its prime, or is too prone to buying "old economy" companies in decaying industries. However, champions of the style claim this is an over-simplification and point to value's recent resurgence in the aftermath of the technology bubble, as well as to its remarkable long-term performance. Who is right?

One of the more persistent criticisms of value investing is that by placing so much emphasis on historic accounting information and so little on forward- looking growth measures