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Value Deep Value Balls-Deep Value
Exactly.
I'd say it's 90% subjective, but "deep value" often means a focus on smaller/illiquid situations and sometimes on things that require some amount of active catalyst. In my experience most fundamental-driven equity shops self-identify as either "value" or "growth" (sometimes called "growth at a reasonable price" or "GARP") so a large portion of fundamental equity shops are "value" by default.
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