Value Awakens (Again)

+ Scott Bessent, Jeff Currie, Mike Wilson, Reed Hastings, Owen Lamont & More

Author

The Idea Farm
March 22, 2026

Sponsored by

“I'm putting all my money in taxes. They're sure to go up.”

— Bob Hope

Research

MFS looks at the state of international allocations and why international stocks may present a way to increase performance and provide diversification.

BNP Paribas provides an overview of European farmland. Although still owned mostly by families (more than 90% of EU farms are today family-run), farmland is becoming increasingly accessible to institutional investors through specialized funds and partnerships.

The architecture of the global economy is changing with emerging markets becoming central to global growth, innovation and wealth creation. Robeco believes this means global investors should consider building or adding to core exposure to EM equities.

Source: MSCI. All figures in EUR. Data end of December 2025. The ratio in the chart above divides the MSCI Emerging Markets Price Index by the MSCI World Price Index in USD.

With investment grade spreads near historic tights, upside is limited and downside risk is rising. GMO explains why a shift toward high quality structured credit can improve carry, raise the spread break-even versus U.S. IG, and help limit mark-to-market downside when spreads widen.

Research Affiliates shows how combining value, quality, and momentum can improve the investment process by not only helping expected returns but also the experience of earning them. Smoother performance, shallower drawdowns, and greater adaptability increase the likelihood that investors can maintain discipline through full market cycles.

Verdad says after more than a decade of drought, the value premium has sprung back into positive territory, and the best years may be yet to come.

Bonus Content

The March edition of the Schroders Equity Lens is out, focusing on investing when geopolitical and stagflation risks are high. Link

Morningstar's Dan Lefkovitz looks at the top-heavy nature of today’s US stock market and how it compares to the past 100 years. Link

There is a tracker that analyses global unicorns - 1.3k unicorns globally valued at $6.1 trillion. The 10 largest account for 50% of total value. Link

Drawdowns and serial correlation are the real serial killer. Link

Younger generations move from barstools to barbells. Link

As of February 24, 2026.

Managed Futures Can Diversify. But Are They Understandable?

Managed futures have historically kept low correlations to both stocks and bonds. However, many of these strategies can be complex, opaque, and difficult to explain to clients.

What if you could invest in the core ideas behind managed futures but implement them in a transparent, cost-effective and simpler way?

Join us LIVE on March 26 to discuss how the Alpha Architect High Inflation & Deflation ETF (HIDE) may help investors build more robust, evidence-based portfolios with trend following concepts that are accessible, transparent and easy to understand.

Investing involves risk, including possible loss of principle. Investors should carefully consider the investment objectives, risk, charges, and expenses of the Fund. This and other important information is in the indicated Fund's prospectus, which may be obtained by calling (215) 882-9983 or by visiting https://funds.alphaarchitect.com/documents/. The prospectus should be read carefully before investing. Diversification and asset allocation strategies do not ensure a profit or protect against loss. Past performance is not a guarantee of future results. The Fund is distributed by PINE Distributors LLC.

Podcasts

3/13/2026 - 53 minutes

Scott Bessent discusses Treasury policy, war related market risks, and why the bond market shapes his view of financial stability.

3/11/2025 - 9 minutes

Carlyle Group’s Jeff Currie talks global supply chains, oil market disruptions, and the broader effects of geopolitical conflict.

2/9/2026 - 85 minutes

Reed Hastings discusses Netflix culture, scaling with freedom and responsibility, and lessons from leadership decisions that shaped the company.

What Else Is Happening 

3/20/26 - 47 minutes

Mike Wilson explains why 60/20/20 may be the new 60/40, why he expects leadership to broaden beyond mega-cap stocks into small caps, the implications of rising oil prices, and more.