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| | Are Value Stocks Riskier than Growth Stocks? |
 | | And almost by definition, growth stocks are the heart and soul of a bubble—it is difficult indeed to spin a convincing story around a distressed company in an out-of-favor industry. |
 | | Bubbles, by their very nature, revolve around the supposedly unlimited growth possibilities of the transformative technologies of the age—the Internet in the late 1990s, mainframe computers and airlines in the 1960s, radio and electrical utilities in the 1920s, and British railroads in the 1840s. |
 | | I submit, then, that although value and growth stocks have their own unique risks, those of growth stocks are more regular and pervasive. |
| www.efficientfrontier.com /ef/902/vgr.htm (1003 words) |
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