Out of U.S. Growth Stocks and into What?

U.S. Growth Stocks have fallen back to earth this year, and even more so than the broader index. The combination of accelerating inflation and interest rate hikes has switched investors risk-on trade firmly off.

Investing in companies run by new, unproven, or inexperienced leadership teams, building businesses built on disruption and the promise of abnormally high future earnings streams has lost followers. The question today is who are they now following?