STEPHEN CRANSTON: Growth investors fish in the glamorous and dangerous waters of anticipated growth
This investment style cannot rely on forecasts, because many businesses that seemed promising, such as MySpace and Blockbuster Videos, turned out to be duds
The holy grail for investors must be to get into great companies at the ground floor. Who wouldn’t have wanted to be an early investor in Apple or Amazon or, closer to home, in Liberty Life or Rembrandt?
At the end of the day the primary role of equity finance is to create companies and jobs. There are no true growth fund managers in SA, not least because the market is dominated by traditionally value sectors such as banks and resources.