It's once again good to be a value investor. After a rough couple of years, the segment of the stock market is back to outperforming its growth counterpart. Bill Smead — who co-manages the Smead Value Fund ( SMVLX ), up 6.75% this year — has long been betting on such a switch. In September, Smead warned about the AI space being overhyped and that high valuations would eventually spur a rotation into unloved areas of the market. That shift has since unfolded, with energy, industrials, and small-