In this episode, we review the impressive five-year performance of Temple Bar Investment Trust PLC, which delivered a total return of 211%, significantly outperforming the UK's FTSE All Share and the S&P 500. The discussion highlights how a value investing strategy capitalized on undervalued UK stocks, particularly in the banking sector, where firms like Barclays and NatWest saw tremendous returns from historically low valuations during the pandemic's market panic. We also explore the changing landscape of UK markets, with a notable shift towards value stocks amidst broader market dynamics and historical extremes in US stock valuations. Key drivers for potential future gains are identified, including corporate takeovers and share buybacks. Finally, the episode emphasizes that while recent returns are notable, the vast valuation disparities suggest further opportunities remain in the value space.