The big debate: growth versus value investing - who wins?

Which is the better recipe for success - growth or value investing? This is perhaps the most hotly contested debate among fund managers. The marketing men of each fund management firm promote its particular recipe most energetically as its special investment process. Convincing the public is a high stakes game because billions of pension fund mandates and mutual fund sales are up for grabs annually or even daily. Here, therefore, is my best effort at a balanced assessment from my viewpoint as an independent investment strategist. THE RULES OF THE GAME However, first it is necessa...