Word: garp
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Dates: during 2000-2009
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Vinik's style is known as GARP--growth at a reasonable price, a fairly straightforward approach. In simple terms it means buying companies whose price-earnings multiple is lower than the earnings growth rate. Think P/Es of 10 to 14; earnings growth of 16% to 18%. There are hundreds of stocks fitting that description most of the time. Vinik scored big by loading up early this year on drug, medical and restaurant stocks while the masses crowded into dotcoms. He says sticking to his style kept him out of the bubble, "a huge factor in our performance...
...added the source of the mix-up was more likely the Lampoon's May 6 presentation of its Wrestler of the Century award to novelist John Irving, known for such books as The World According to Garp and A Prayer for Owen Meany...