The question is not whether value stocks will have periods of outperformance or not—they absolutely will. Rather, the question is whether that outperformance is sustainable in a world where many industries are being disrupted at an increasingly rapid pace.
In my view, investors should not be debating growth versus value, but really focusing on sustainability and quality (growth or value) for long-term investments in a diversified portfolio.
Grant Bowers is a vice president at Franklin Equity Group and portfolio manager of the Franklin Growth Opportunities Fund.