Friday Morning Coffee 147: Joined at the hip

160421 Friday Morning Coffee

Friday Morning Coffee 147: Joined at the hip

I recently came across extensive comments from so-called growth investors making the point that the reflation trade had created a unjustified rally in value stocks that were of low fundamental quality. In the long run however quality had always prevailed independently of valuation and the recent recovery in value would prove temporary. Growth investors should therefore simply sit out their current underperformance and of course stay invested in the growth funds.

 

 

(See attached pdf)