What is the hot new hedge fund strategy? Convertible Arbitrage? Distressed Debt? Emerging Markets? Event Driven? Macro? Long / Short, Risk Arbitrage? Quant? No, if a new hedge fund by a former Columbia professor is any clue, it is value (see Bloomberg article). The new company, called the Van Biema Value Partners, plans to invest in no more than 20 small Asian managers that follow value investing principles. When people start losing significant amounts of money, it is interesting how Buffett and Templeton start to appearing wise again.

Deutsche Bank is now offering ETNs that tracks the Benjamin Graham Intelligent Value indexes (see IndexUniverse article). The indexes are based on the value-based investment philosophy of the well-known and revered economist and investor for which the ETNs are named. Three value-oriented funds are being offered, broken down into total market, large-cap, and small-cap segments as follows:

• Benjamin Graham Large Cap Value ELEMENTS (NYSEArca: BVL)
• Benjamin Graham Small Cap Value ELEMENTS (NYSEArca: BSC)
• Benjamin Graham Total Market Value ELEMENTS (NYSEArca: BVT)

Now those investors who have heard their professors, investment writers, and TV analysts praise Graham and value investing for years can now be like Warren Buffett (sort of) and other investors that follow Graham's value-based approaching to investing - yet you can now do so without all the messy hard work others using his approach perform on a daily basis. Each fund has an expense ratio of 0.75% for the privilege of staying uninvolved.