Growth Stocks Or Bust
In a slow growth world with low interest rates, the only investment theme that has consistently worked over this almost 10-year old bull market is growth. Value fund managers have closed shop or adopted a growth stock allocation. Buying undervalued stocks leaves investors with negative returns as the S&P 500 hits daily all-time highs. Banks (value stocks) did enjoy a recent surge over the past weeks, but as shown in our Growth-to-Value chart below, this was a blip in an ongoing Growth market. Just since January 2018, the Growth index is