Many on this site believe that markets are efficient and information is instant so it is not possible for a value to exist, I don't agree with this, but if that were true then investing in a value oriented fund would not make sense.
Why not? Worst case, if markets are perfectly efficient and those "value" companies are at their correct price, you've still got stocks paying decent dividends over time.
Further, we've had absolute proof that markets are not anywhere near efficient, and that they are sometimes (often) psychological factors drive particular stock, classes of stocks, or even the whole market, into a bubble mentality.
You and I are on the same page, as I said in my post I don't agree with the premise. It just seems that the majority of posters, and generally for good reason, dispell anything but broad index investing. I think there are values/opportunities but it is not easy and does increase risk.
'It just seems that the majority of posters, and generally for good reason,"
Yes, ...
' dispell anything but broad index investing. '
No, I disagree. MMM advises rental property, owning your own house, and broad index investing. And no debt (except a 30 yr mortgage perhaps) . And the rest of us opinionated ones generally allow some degree of active funds (if low fee), bonds, dividend stocks, diversified asset allocation, efficient long and short term tax planning, ... heck, I'd allow a 5% speculative allocation.
'I think there are values/opportunities .. "
Me too. Based on broad global trends and common sense. Or hyper-local conditions, like rentals and property development. As per MMM.
'but it is not easy and does increase risk."
Exactly. In fact, it is well proven that most professional market traders do not beat the market, and the odds of beating it consistently
over 10+ years is very very low. Which is why we are generally not fans of short term trading. You are highly likely to end up under-performing the market, while increasing volatility and having to fret about the market. For ever. All the time.