Artificial Intelligence (AI) continues to dominate headlines and investor attention in 2025. From chipmakers to software platforms, companies associated with AI are trading at elevated valuations, reflecting high expectations for future growth. But what does this mean for long-term investors?
In this issue, we explore the behavioural and market dynamics that drive pricing in innovation-led sectors. We contrast high-multiple 'growth' stocks like NVIDIA and Palantir with more conservatively priced 'value' stocks such as HP and Pinterest, and examine how expectations are embedded in current valuations. We also revisit the long-term performance of value versus growth across global markets, highlighting the importance of discipline and diversification.
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