CIO Special - Growth vs Value

In a nutshell

• Growth stocks are currently enjoying a tailwind, driven mainly by the impressive performance of the Magnificent Seven in the U.S.
• Given that secular trends can generally only be reversed by massive changes in influencing factors, there is still potential for growth stocks, although the risks are also increasing.
• Diversification considerations clearly favor value stocks in a portfolio context, especially over the long term, and valuations currently appear attractive.    
   

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