%0 Journal Article
%A Brush, John S.
%T Value and Growth, Theory and Practice
%D 2007
%R 10.3905/jpm.2007.684749
%J The Journal of Portfolio Management
%P 22-30
%V 33
%N 3
%X The definition of value-based investing is widely accepted by both academics and practitioners, but there is confusion and disagreement as to the definition of growth-based investing. There is some statistical support for generic value and growth multifactor ranking models. Given different holding-period sensitivities of alpha potential for value and growth, there appear to be two ways to exploit the two styles: the typical combining of pure styles in a portfolio, or the less widely recognized use of a combined value/growth model. One important conclusion is that active style exploitation of alpha is inherently incompatible with capitalization-weighted benchmarks.
%U https://jpm.pm-research.com/content/iijpormgmt/33/3/22.full.pdf