Recent analysis from GMO highlights the disparity in stock valuations, indicating that while 80% of U.S. stocks are currently trading at high valuations, a significant portion of deep value stocks are trading at historically low prices. Specifically, deep value stocks are positioned in the 10th percentile of their valuation history, suggesting that a reversion to median valuations could see these stocks outperform growth stocks by approximately 60%. This trend is also evident in international markets, where deep value stocks are even cheaper relative to their historical valuations. The insights emphasize the potential for investors to capitalize on these 'left behind' stocks as the broader market approaches record highs.