investment

Jonathon Fite: Momentum investing reigns (for now)
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Last month this column briefly referenced that today's tech boom companies, in comparison with traditional "value plays," are more expensive than they were during the peak of the dot-com boom. This is a pretty bold claim and warrants further discussion. 

Bank of America's investment management arm, Merrill Lynch, publishes a periodic review of U.S. growth stocks versus the universe of value stocks in the marketplace. 

Growth stocks tend to be characterized by companies with strong revenue growth, even if profits are thin or nonexistent. In today's market, investors have bid these companies up to nosebleed...