Growth vs value debate misses point

This year has been very much a stockpicker's market. While over the past couple of years, it has been far easier to identify trends and themes within industries, this broad asset allocation-based approach has been far less successful this year. Part of that has been down to the change in investor sentiment causing the rotations across sectors and markets. Within sectors, the broad themes have played out and investors have had to look at far more company-specific reasons why stocks will do well. At the beginning of the year, many people conceded that equities looked expensive. That led to ...