@article {Siegel33, author = {Laurence B. Siegel and John G. Alexander}, title = {The Future of Value Investing}, volume = {9}, number = {4}, pages = {33--45}, year = {2000}, doi = {10.3905/joi.2000.319437}, publisher = {Institutional Investor Journals Umbrella}, abstract = {While the {\textquotedblleft}value{\textquotedblright} style of investing fell on hard times in 1998-2000, the cornerstone of that approach--discounted cash-flow analysis--is still a sound valuation method and can be used to calcuate the fair value of {\textquotedblleft}growth{\textquotedblright} as well as {\textquotedblleft}value{\textquotedblright} companies. A DCF analysis of selected companies finds the growth stocks overpriced and the value stocks underpriced. Looking forward, however, values investors may need to retool their approach to fit today{\textquoteright}s market realities, including the possibility that some declining, old-line companies that appear to be good value are not.}, issn = {1068-0896}, URL = {https://joi.pm-research.com/content/9/4/33}, eprint = {https://joi.pm-research.com/content/9/4/33.full.pdf}, journal = {The Journal of Investing} }