DoubleLine Publishes Paper on Equities: "Value Investing Is Dead? No, Long Live Value!"

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Mar 17, 2021, 12:30 ET

LOS ANGELES, March 17 2021 /PRNewswire/ -- In a new research paper, Emidio Checcone, CFA, and Brian Ear, CFA, portfolio managers of the DoubleLine Equity Value Strategy, make the case that large-cap U.S. value stocks represent a historically compelling investment opportunity relative to large-cap U.S. growth stocks. They also argue that five widely cited justifications for the extreme premia paid today for growth over value are, in fact, misconceptions that risk leaving investors overexposed to highly popular and highly priced individual stocks.

"Furthermore, to the extent investors maintain permanent allocations to U.S. equities, given the protracted, more-than-decadelong run of growth relative to value, it is logical to consider a reallocation of some of that capital away from growth and into value," Messrs. Checcone and Ear write.

The paper, titled "Value Investing Is Dead? No, Long Live Value!", is accessible at this link: https://doubleline.com/dl/wp-content/uploads/Long-Live-Value_Checcone-Ear_March-2021.pdf

Mr. Checcone joined DoubleLine in 2014. He is the Portfolio Manager of the Equity Value strategy. Prior to DoubleLine, Mr. Checcone spent six years at Huber Capital Management, where he was a Principal and Portfolio Manager. Prior to that, he worked at PRIMECAP Management Co. for six years, where he was a Principal and Financial Analyst. Mr. Checcone holds a B.A. in Social Studies from Harvard College and a J.D.-MBA from Harvard Law School and the Harvard Graduate School of Business Administration. He is a CFA® charterholder.

Mr. Ear joined DoubleLine in 2016 as an Equity Analyst and is now a Portfolio Manager. Prior to DoubleLine, he spent two years at Compass North Advisors as a Consultant and six years at Palmyra Capital Advisors LLC, where he was a Principal and Portfolio Manager. Prior to that, Mr. Ear worked for five years at Hotchkis & Wiley Capital Management as an Equity Analyst. He holds a B.S. in Economics from the Wharton School of the University of Pennsylvania. Mr. Ear is a CFA® charterholder and a licensed CPA (inactive).

About DoubleLine Capital LP

DoubleLine Capital LP is an investment adviser registered under the Investment Advisers Act of 1940. DoubleLine's offices can be reached by telephone at (213) 633-8200 or by e-mail at [email protected]. As of December 31, 2020, DoubleLine Capital LP and its related entities, including DoubleLine Alternatives LP ("DoubleLine"), managed $137 billion in assets across all vehicles, including open-end mutual funds, collective investment trusts, closed-end funds, exchange-traded funds, hedge funds, variable annuities, UCITS and separate accounts. News media can reach DoubleLine by e-mail at [email protected]. DoubleLine® is a registered trademark of DoubleLine Capital LP.

SOURCE DoubleLine