I think the larger point is that public capital markets have become steadily more efficient. There are no "value stocks" anymore because nothing is overlooked by the market, those old opportunities have been arbitraged away. Modern computing systems have made it practical to look at every stock every day, so all stocks now trade at their "true worth" because all publicly available information gets instantly priced in.
Now pretty much the only way for investors to (legally) beat the market is to do proprietary research in ways that others can't easily copy. You need information that no one else has.
Now pretty much the only way for investors to (legally) beat the market is to do proprietary research in ways that others can't easily copy. You need information that no one else has.