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Over the last 70 years, value stocks clocked a 13.4% average annual return, vs. 10.2% for growth stocks, according to Ibbotson Associates.

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It appears the battle is over at Steak n Shake, where the table is set for new board Chairman Sardar Biglari to overhaul everything from the executive roster to items on the menu in his quest to revive the struggling restaurant company. Longtime stewards of the venerable hamburger chain are no doubt upset that Biglari, a 30-yearold upstart investor from San Antonio, is calling the shots, but he won control fair and square. Now let’s see if he can unlock value for shareholders.

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Value manager Alan Wicks at Toronto based MFC Global Investment Management, cautions that while a lot of bad news is already reflected in global market valuations, stocks could still go lower as there is considerable uncertainty in financial markets.

"We are seeing valuations on brand-name stocks at levels that we have not seen in years, but there is decidedly a need to be selective," he says.

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