Thank you for the interesting research. One question I would pose in response is what the definition of value investing is?
Value investing to me is about buying something at a price that is attractive relative to your view of value, which may be based on future earnings (sustainable or growing), underlying assets or scarcity / strategic value. So is GE great value? I haven't done the work but with talk of negative cashflow in a mature business, I expect the question is wide open. But buying a business that has a strong position from which to grow earnings rapidly at a price that leaves scope for multiple expansion as well - that sounds like more convincing value to me.