And they are not going to take it anymore. Or maybe not. If you look back over the past 100 years or so, value investing has delivered higher returns to investors than growth investing. In many respects, this makes a lot of sense. Value stocks are those defined as more mature companies that grow at a modest pace that reflect the growth in the overall economy. They tend to be companies that are the foundation of the economy, like energy, phone, transportation, and food companies. Growth companies are those that are new, young and hip. They offer a new product or service, or they offer something new and improved relative to existing products in the marketplace. These companies grow fast as their new products get uptake in the marketplace or they take market share from existing suppliers.
