EMinn_Insights
Artificial Intelligence in the Workplace /
BRenyolds
VR and Live Sports /
BNeuman_Insightsenhanced
Reversion to the Mean or to the Trend? /
VKhullar
Software Is Eating the World /
MattMargolis_Insights
Technology's Impact on Health Care Costs and Quality /
BRenyolds_150RGB-Sequel-final
Grocery Innovation /
TDeBourcy_Insights
Long-Term Secular Growth in the U.S. Pet Industry /
bBlimkie
Opportunities along the S-Curve /
ShefOsborn_1061x663
Semiconductors and Economies of Scale /
BRenyolds_150RGB-Sequel-final
Streaming Content /
GOrtega276x172
Disruption on the Menu /
CJSylvester_AOR_thumbnail
Innovation in Targeted Therapies /
EMinn_Insights
Secular Adoption of Technology /
DAhNow
Cashless Payment Systems /
DSheridan_Final
Why Short Stocks? /
BNeuman_Insightsenhanced
Style Classification Is Failing Investors /
GDai_276X172RGB_Final
Smaller Cap Moats /
TMcRoberts
Genetic Technology /
PShere
Transformation in Japan /
AGustin_276X166
Digital Transformation in the Industrial Sector /
BNeuman_Insightsenhanced
Looking Outside for Better Decisions /
ACrawford
Autonomous Driving /
BRenyolds_276x172
Innovation in China /
DChung
Innovation in the Workplace /
MattMargolis_Insights
The FDA Comes Around /
GJones
Can France Catch Up to Germany? /
VKhullar
Cloud Computing Explained /
PKelly
Digital Advertising /
AKirby_WebSmall_021617
Diversified Business Services /
KCollins
Debunking the Risk Myth about Focus /
BRenyolds_150RGB-Sequel-final
eSports Step Up Their Game /
BNeuman_Insightsenhanced
Solomon’s Paradox /
BNeuman_Insightsenhanced
Turning Back the Clock on the Future /
GDai_276X172RGB_Final
A Multi-Sleeve Design /
BNeuman_Insightsenhanced
Swinging at the Right Pitches /
ACrawford
AOR Extra - The Next Industrial Revolution /
KCollins
AOR Extra - The Power of Focus /
AZhang
High-Conviction Small Caps /
PKelly
A Focused Approach to Innovation /
ACrawford
Semiconductor Renaissance /
MattMargolis_Insights
Advances in Health Care Delivery /
JBennett
The Weatherbie Way /
DChung
The Active Edge /
ACrawford
AI Is Nothing to Fear /
DChung
More to the Economic Story /
JBennett
Fishing in a Different Pond /
GAdams
Managing Factor Risk in Today’s Market /
BNeuman_Insightsenhanced
Style Divergence /
BRenyolds_150RGB-Sequel-final
The Transformative Power of Mobile Internet /
AZhang
Investing in Small Cap Innovation /
BNeuman_Insightsenhanced
A New Take on Growth /
Reversion to the Mean or to the Trend?
After dramatic risk aversion in the early spring with record money market inflows and implied volatility readings, investors are now considering becoming more aggressive and trying to buy the more economically sensitive laggard stocks in the Value category. We think some of these investors will be disappointed.​​​​​​​​​​
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The price-to-book ratio is used to compare a firm’s market capitalization to its book value. It is calculated by dividing the company’s stock price per share by its book value per share.

The views expressed are the views of Fred Alger Management, LLC (“FAM”) and Alger Management Ltd. (together with their affiliated entities “Alger”) as of May 2020. Alger has used sources of information which it believes to be reliable; however, this publication is not intended to be and does not constitute investment advice. These views are subject to change at any time and they do not guarantee the future performance of the markets, any security, or any funds managed by Alger.

Risk Disclosures: Investing in the stock market involves gains and losses and may not be suitable for all investors. Growth stocks tend to be more volatile than other stocks as the prices of growth stocks tend to be higher in relation to their companies’ earnings and may be more sensitive to market, political and economic developments. Many technology companies have limited operating histories and prices of these companies’ securities have historically been more volatile than other securities due to increased competition, government regulation, and risk of obsolescence due to the progress of technological developments. ​Please visit ​ www.alger.com for additional risk disclosures. Past performance is not indicative of future performance. Investors whose reference currency differs from that in which the underlying assets are invested may be subject to exchange rate movements that alter the value of their investments.

Important Information for US Investors: This material must be accompanied by the most recent fund fact sheet(s) if used in connection with the sale of mutual fund shares. Fred Alger & Company, LLC serves as distributor of the Alger mutual funds. ​

Important Information for UK and EU Investors: This material is directed at investment professionals and qualified investors (as defined by MiFID/FCA regulations). It is for information purposes only and has been prepared and is made available for the benefit investors. This material does not constitute an offer or solicitation to any person in any jurisdiction in which it is not authorised or permitted, or to anyone who would be an unlawful recipient, and is only intended for use by original recipients and addressees. The original recipient is solely responsible for any actions in further distributing this material and should be satisfied in doing so that there is no breach of local legislation or regulation.

Certain products may be subject to restrictions with regard to certain persons or in certain countries under national regulations applicable to such persons or countries.

Alger Management, Ltd. (company house number 8634056, domiciled at 78 Brook Street, London W1K 5EF, UK) is authorised and regulated by the Financial Conduct Authority, for the distribution of regulated financial products and services. FAM and/or Weatherbie Capital, LLC, U.S. registered investment advisors, serve as sub-portfolio manager to financial products distributed by Alger Management, Ltd.

Alger Group Holdings, LLC (parent of FAM) and Fred Alger & Company, LLC are not an authorized person for the purposes of the Financial Services and Markets Act 2000 of the United Kingdom (“FSMA”) and this material has not been approved by an authorized person for the purposes of Section 21(2)(b) of the FSMA.​

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​​Brad Neuman's Photo​​ ​

BRAD NEUMAN, CFA​​
Senior Vice President
Director of Market Strategy ​


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