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...Financial indices started proliferating a century ago, but were long little more than badly-constructed, infrequently-updated ways to measure economic vim long before the birth of GDP....
...However, value stocks enjoyed a renaissance last year, with long-shunned areas such as energy and banks rediscovering their vim and topping the table of the best-performing sectors in 2021....
...It was not very profitable, important or complicated, and was mostly seen as a way to try to measure the economy’s vim....
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