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  "description": "The problem for value investors in this market is not the lack of cheap companies to buy, but the lack of interest in them.",
  "path": "/research/2026/04/venture-update-270426/",
  "publishedAt": "2026-04-27T12:01:21.000Z",
  "site": "https://www.bytetree.com",
  "tags": [
    "Global Trends",
    "Subscribe now"
  ],
  "textContent": "## Issue 122;\n\nThe problem for value investors in this market is not the lack of cheap companies to buy, but the lack of interest in them. We are in a market where expensive stocks are doing much better than cheap ones. That is, anything linked to energy and AI, which is sheltered from the real world, is powering ahead, leaving the rest behind, facing a weak consumer.\n\n## Sign up for our research\n\nVenture is ideal for experienced private investors looking for deep-value opportunities in global equities. Sign up for free to receive previews of future Venture updates as well as our other research publications.\n\nSign Up\n\nEmail sent! Check your inbox to complete your signup.\n\nNo spam. Unsubscribe anytime.\n\n### Consumer Sentiment Is Weak\n\nSource: Bloomberg\n\nThe cost-of-living crisis is not just impacting politics, but markets. As I wrote in Global Trends this morning, this is a thin market led by Energy and Technology Hardware. These themes are not cheap. Notably, 47.5% of stocks are underperforming the market, in relative downtrends, making it unusually difficult to find cheap stocks that are going up.\n\nI suspect this will last so long as the Strait of Hormuz remains closed.\n\n### This post is for subscribers only\n\nBecome a member to get access to all content\n\nSubscribe now",
  "title": "Venture: Update",
  "updatedAt": "2026-04-27T12:01:21.390Z"
}