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Cheap stocks regain allure as investors embrace riskier bets

Value shares have rallied three times as much as growth stocks in the US this year

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Companies in the US value gauge trade at 16 times estimated earnings over the next 12 months, half the valuation gap versus growth stocks less than a year ago.

London

INVESTORS in the US and Europe are warming again to a portion of the stock market that they have shunned since the financial crisis.

Value shares, those trading at lower multiples to earnings and asset value, have rallied three times as much as growth stocks in the US this

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