Beginning in 2021, value stock performance has slowly but steadily outpaced growth stock performance. This has been a long time in the making: value investors have been patiently waiting for a recovery in value stocks for the past 15 years. Yet even though the long-awaited recovery is finally underway, many investors are choosing this moment to cut bait and move to growth—the same mistake they made in 2000 after the dot-com bubble burst. This Barron’s article explains why spotting an opportunity is only half of the equation; the other half is having the patience to see it through.