Is growth investing superior to value investing?

Encyclopedia of Opinion

Question: Is growth investing superior to value investing?
Position1 of 2›: Growth investing is superior because it focuses on compounding for the long term, whereas value often buys low quality companies that can't grow

This position holds that growth investing is superior to value investing. It argues long-term returns are driven by a company's growth and return on capital—its ability to compound over time—rather than by how cheap its shares appear at purchase.

Supporting arguments · 1

The biggest driver of long term returns is return on capital, not valuation
“Over the long term, it's hard for a stock to earn a much better return that the business which underlies it earns. If the business earns six percent on capital over forty years and you hold it for that forty years, you're not going to make much different than a six percent return - even if you originally buy it at a huge discount. Conversely, if a business earns eighteen percent on capital over twenty or thirty years, even if you pay an expensive looking price, you'll end up with one hell of a result.” Charlie Munger