I think it is safe to say if a sector or stock is trading 35x over book value, it is not a distressed sector or stock. Banks and financials were the last up to bat, and before that it was oil and cruise ships. 10 years ago it was tech that was stressed and you could buy microsoft with an extremely low p/e close to book value.
Popular investing is going to be popular. True value investing will be found at the bottom of the value investing subreddit, because its not as popular as basic bitch AAPL, TSLA, Amazon, and MSFT.
Someone is always going to say, "mY gRowTh sToCk iS uNdErVaLuEd" when it barely collapsed from it's premium. Then, to sound like the authority of value investing, will say that it is outdated in a 10 year bull market.Well my portfolio says value investing is still a viable strategy and being forced to invest in a growth stock is pure bullshit. Perhaps the reason you say it is outdated, because you know absolutely fuck all about how to value invest.