The American satirist Ambrose Bierce once described fidelity as 'a virtue peculiar to those who are ...
The American satirist Ambrose Bierce once described fidelity as 'a virtue peculiar to those who are about to be betrayed.' So it must have seemed to growth investors over the past few years. It wasn't just that valuations were too high and that markets therefore had to come back. It was also that many 'growth' companies literally stopped growing at all. Throughout all of this some investors kept their 'virtue.' To their mind, the loss of revenue and earnings growth was a temporary phenomenon and would soon correct itself. Not only were these 'growth' firms worth sticking with for that...
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