From Forbes:

Value funds have offered good value to investors lately. The average actively managed value fund has outperformed the S&P 500 year-to-date and over the last 12 months.

The problem with this picture is that history indicates the good times inevitably come to an end--often after powerful rallies like this year's.

"It's an OK time to buy value, but you missed the pop," says Russel Kinnel, director of fund research at Morningstar.

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The last three cheap stocks in the market

Value legend Whitman on what he's buying now

Value legend Marty Whitman on why "cheap" isn't enough