In the short-term, it certainly seems that value investors, after more than a decade of underperformance, are finally taking a victory lap as the long-awaited resurgence occurs. The brief periods of outperformance of value versus growth occurred during rough patches in the financial markets. One of the reasons that FANG stocks may not be “dead” going forward is the same reason they were the leaders in the past. Despite the market decline this year, investor capital flows are still headed into passive funds