Here's what's actually happening: (https://news.google.com/rss/articles/CBMiogFBVV95cUxOenEtN2pOQ3MwdDNFTm1wRHZXNklyNXZGampuNW1vWXVTRlZhN2tDeWp5QWdZaDZYUDJ3a1lic25ST2xQeUp0VUNQY1E2NDZIR3NKY1RDWTBuTUpYQUlsd0FTdm9GdW50cWVOZTlsb2VBOEVhQUZUQUE1YW81Vl9zUUdNcWtmLWJYbWtPODZ3YzBmQWZFVm1ocnBYZDRCZjA3cmc?oc=5). Value investors have been chasing the same screens for 20 years — high ROIC, low multiples, strong FCF — and they're all underperforming.

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