Categorisation of stocks into either ‘growth’ or ‘value’, is misleading, according to latest research ValuAnalysis.
Instead, the independent investment boutique, which focuses on equities and specialises in valuation, believes that the correct continuum is ‘low to high expected growth’ of any particular stock, at any level economic rent (free cash flow yield on economic assets).
The research comes amid relative outperformance by ‘value’ stocks since 9 Nove...