FOR YEARS, GROWTH STOCKS WERE FUN AND FANTASTIC, UNTIL NOW
As stocks hit record after record in the past decade, investors didn’t much care if a stock was cheap or expensive. What mattered most was: Is it growing quickly?
If the answer was yes, the stock was in high demand, almost regardless of the price. Investors were ravenous for companies able to add customers and deliver fat growth. So they were willing to pay premium prices for an Amazon or a Netflix. Left behind were stocks in more staid industries, even if they looked like better bargains by several measures.
Suddenly, though, the siren song
