stock: In the past couple of weeks, while the main U.S. stock indexes SPX, -0.01%DJIA, 0.06%COMP, -0.06% have hovered near all time highs, investors have been selling so-called momentum stocks which have led the market up based on fast growing revenues, earnings or valuations, and buying stocks offering value compared to earnings or book value, according to Market Watch. But the speedy reversal of fortune for value, amid a market increasingly dominated by passively-managed funds, is leading to some unexpected outcomes. Can this stock be bought low and sold high As the Great Rotation grips the U.S. stock market, more investors are turning to value stocks, or those that are considered comparatively underpriced or overlooked. See also It's reflation that's turning the Great Rotation,' these analysts say As famed investor Laszlo Birinyi put it in a Tuesday note to clients, Yes, Caterpillar CAT, 0.20% has done well as have the banks but the value index has been led by Apple. Apple Inc. Apple a value stock Birinyi was looking at the iShares S&P 500 Value ETF IVE, 0.10% which has gained over 4.3% since the start of the month.
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