Good Twitter Thread on the Value vs. Growth Debate

A good, succinct 9-post thread on Twitter by Tsachy Mishal on the value vs. growth debate is here.

The quick summary: the internet created a winner-take-all atmosphere in business. In the old days, if there was a good business model in an industry, many other players could follow the leader and still have some success. Now, in the world of Google, Amazon, and Facebook, if you aren’t the dominant player, you may struggle to even survive. That has left the singular winners in the growth category while value investors have to avoid the increased portion of companies in its category that are in secular decline. “The most important thing is to avoid the secular decliners.”