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SPECIAL REPORT
By Vitaliy Katsenelson CFA
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| I have a problem with both growth and value demagogues. Growth demagogues will argue that valuation is irrelevant for high-growth companies because the price you pay for growth doesn’t matter. They usually say this after a very extended move in growth stocks, where these investors look like gods that walk on water. They call value investors “accountants.” The price you pay matters (this is not a new message). As we’ve discussed in the past, if you bought great, high-growth companies near the end of the Nifty Fifty bubble in the 1960s or near the end of the dotcom bubble in the 1990s, it took more than a decade to break even (after first struggling through double-digit losses). |
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Filed under: "Ask-an-Advisor", "Doctors Only", Experts Invited, Financial Advisor Listings, Financial Planning, Funding Basics, Glossary Terms | Tagged: growth stocks, stock bubble, value stocks, Vitaliy Katsenelson CFA, Wall Street | Leave a comment »
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