Value vs. Deep Value
On HedgeTracker, some funds are classified as "value" and others are "deep value." Are there any hard differentiators between a value and deep value play (or is it largely subjective)? Much thanks.
On HedgeTracker, some funds are classified as "value" and others are "deep value." Are there any hard differentiators between a value and deep value play (or is it largely subjective)? Much thanks.
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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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