Abstract
It is time to develop new tools for looking at investors and understanding the differences in their styles. The traditional yardstick of value versus growth is flawed; growth is not the opposite of value, but rather an important element in it. A new style map can describe investment managers better by looking at the tools they use rather than focusing on accounting measures. There is room in institutional investing for investors who seek either strong or weak current trends and those who seek either high or low growth, using long or short horizons. Rewards will go to those investors who adapt best to changing conditions and who learn where new opportunities lie more quickly than the market does.
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