Deglobalization is a rising risk for value investors. Here’s what they should do about it

News Snapshot:

Open this photo in gallery: Traders work on the floor of the New York Stock Exchange during morning trading in New York City, on March 25.Michael M. Santiago/Getty Images Over the last 30-plus years, the world experienced a bull market in stocks, bonds and real estate owing to the advent of globalization and the ensuing low inflation and low real interest rates. Globalization shrank the world. Free trade in products and services; unencumbered movement of people, ideas and capital; open capital markets; production and technological innovations; public support for global trade; and adherence to international law all reached record levels,...