David Jane: Are growth stocks overvalued?

In all big stories, the reality is often more nuanced than headlines suggest and the ‘growth versus value' debate is no different. It is true that growth stocks have recently outperformed by a considerable degree and this had led to a degree of comparison with the tech bubble in the late 1990s, as relative performance has reached these heights. Back then, the reason for growth's outperformance was a high level of speculation in a narrow area, which had little or no earnings. For its part, the recent outperformance of the so-called ‘FAANG' stocks of Facebook, Apple, Amazon, Netflix and Go...