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The danger of common perceptions

Oct 28, 2022

There is this common perception that growth stocks are more defensive than the often cyclical value stocks. This view is currently being shaken by some of the quarterly reports coming out from Big-Tech, like Meta, Microsoft or Amazon. Remember that financials and energy continue to show solid results for the well-known reasons. The team around SG strategist Andrew Lapthorne did some aggregation work showing that, on a global basis, almost all of the earnings downgrades this year come from growth stocks. It may be about time to revisit some of the common beliefs around growth and value in the current environment.

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