As a value investor, I would like to say that you are 100% wrong.  I would like to....but I can't.

Merrill (in the US) has done a lot of work on just what works in the market (low PE?, high ROA?, low P/FCF?, low dividend yield?, high dividend yield?, under owned stocks?, high ROE?, Positive earnings surprise? etc., etc.  etc.).  

Different strategies work better at different times....but "momentum" works as well or better than most of the traditional value tactics.   Not something that I am personally comfortable with....but there is more than one way to skin a cat.