There's a common belief that lower borrowing costs benefit so-called growth stocks, as they're often capital-intensive.
"History also suggests value should outperform growth, at least over the six months following the first rate cut," he said.
If the economic situation becomes a "hard-landing," however, he said that growth stocks could outperform.
If it normalizes (i.e., becomes more upward sloping), value should outperform growth," he said, referring to a situation where short-term rates are lower than long-term rates.
"Lower multiple value stocks have greater upside and less risk than the pricier 'glamor growth' group for the foreseeable future," Ball said.
Persons:
Adam Turnquist, Savita Subramanian, CNBC's, we've, Janjigian, Vanguard Russell, Venu Krishna, George Ball, Sanders Morris, Ball
Organizations:
U.S, Tech, CNBC Pro, LPL, BofA Securities, Greenwich Wealth Management, Vanguard, Index, Barclays, Krishna, Presidential
Locations:
U.S . Federal