A recent Wall Street Journal headline shouted, “Growth funds have pulled into the lead.” The story went on to announce, “Value is out, and growth is in.”
Are you going to follow the crowd and buy growth funds because they’re fashionable right now?
Value investor could be likened to the bargain hunter who finds a Jones New York blazer and pant set at a thrift shop in excellent condition and pays $30 for the outfit. A growth investor buys it brand new at Saks and pays full price, $300, justifying the purchase because it makes her look like a million bucks.
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