GARP (Growth at Reasonable Price)

Biological Parallel

Early-succession species like alder grow rapidly but also fix nitrogen, improving soil for later arrivals. They balance fast growth (r-strategy) with structural investment (K-strategy), occupying the transition zone. This hybrid strategy works when pure pioneers (fireweed) are outcompeted too quickly, but climax species (oak) take too long to establish. Lynch's GARP investing mirrors this middle-succession niche: companies with strong growth but not priced at pioneer-species premiums, balancing expansion with valuation discipline.