Here’s why Astrazeneca is one of the most expensive shares on the market
Here’s why Astrazeneca is one of the most expensive shares on the market. It has long been understood that cheap stocks have a tendency to outperform expensive stocks in the stock market. While this is not true every single year, over almost every 3-year cycle in the stock market, cheap (or value) stocks outperform. This phenomenon has created the cult of 'Value Investing' born of the writings of Benjamin Graham and the amazing success of its arch proponent Warren Buffett. In the 4th edition of his groundbreaking investment research tome What Works on Wall St, O’Shaughnessy shows that composite value factors based on a mix of metrics dramatically beat the market over a multi-decade period.