NEW YORK, Aug. 4 (UPI) -- U.S. investors who generally look for bargains when picking stocks instead of issues that are on tear have become more optimistic lately.
Known as value investors, they eschew so-called growth stocks that gain favor for their quick run-up in price.
A year ago these value investors, which include individuals and various mutual fund managers, were sitting on lots of cash because they did not see any bargains.
But recently, as interest rate hikes have battered much of the stock market, value investors have returned to the market, snapping up what they see as good deals, the Wall Street Journal reported Friday.
Consider Third Avenue Small-Cap Value Fund: It has invested $100 million in recent months, bringing down its cash holdings to 28.5 percent of assets from about 40 percent in January.
Despite such trends, not all value investors are ready to dive in; a number continue to sit on large amounts of cash until the bargains become even more tempting.
