A curious phenomenon has been taking place in the equity markets in the last few years, which could be summarized as follows: as the bull stock market was breaking record after record, investors (or maybe investing algorithms?) became increasingly concerned about the slowing growth affecting many companies and started to shift their attention towards growth stories first (companies showing a top-line YoY growth of 30% or more).
In my opinion, this spasmodic search for the best growth storyis causing the whole market to split into two separate groups. The first, smaller group is made