On Investors’ Minds - APAC Edition Is now the time for Value style investing to shine?
Feb 26, 2026
Kyle Williams, a London-based portfolio manager specializing in global value equity investing, discusses why value may be poised to outperform. He contrasts pricey US tech with cheaper international markets. He explores value opportunities across regions, along the AI supply chain, and how global value can diversify concentrated growth exposures.
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Episode notes
Value Works Because Markets Misprice Emotions
- Value investing is buying assets for less than they are worth based on behavioral dislocations in markets.
- Kyle Williams says emotional over- and under-reactions create price divergence, letting value outperform over the long term.
Cheap Stocks Exist Within Expensive US Market
- Expensive headline US multiples mask many undervalued US companies across sectors.
- Kyle Williams notes their global value fund holds ~two-thirds in US names like banks, insurers, healthcare and industrials trading below fair value.
International Equities Trade At Deep Historic Discount
- International markets trade at a large discount to the S&P, wider than historical norms.
- Kyle Williams cites a c.33% discount (1.5 standard deviations) versus a historical ~18% gap, with catalysts like European fiscal stimulus and Japan reforms.