Hello Brian,

I think you are probably right...but to what would you attribute that likelihood? Buying the same company at different points in time; the value investor when the stock was depressed three weeks ago, and the growth investor seven years ago when the business model was uncertain? Or is it that many firms get penalized for 'tracking error'? One of the problems with the distinction between growth and value is that academic finance folk and the consulting community tend to evaluate it with book to price ratios, or some other ratio that includes price. As we all know, price fluctuates over time. So the definition of growth and value also fluctuates with time and for the same company.

Cheers!

Jason