* Are these constructs of value or growth really beneficial and why can't you have both? How do you define them?
* Are all stocks really only one or the other?
Defining these stocks can be difficult, as even major indices have a different methodology for categorising them. Some good value stocks have growth characteristics as well. There is also the opinion that the long-standing dispute between growth and value equity investors is obsolete due to both concepts becoming ineffectual as a result of the shift from active investment into passive investments.
Historically, “big oil” and the tobacco majors have been viewed as both growth stocks and value stocks at different points in time. But when environmental, social and governance (ESG) research began with the simple premise that companies with weak ESG practices run higher risks of future scandals and thus have a higher tail risk, there were plenty of examples within these types of companies to support this notion.