Concept · Investment & Valuation
Growth Investing
Origin: Philip Fisher / T. Rowe Price
Biological Parallel
Pioneer species like fireweed don't compete on efficiency—they compete on growth rate. After disturbances clear land, the first arrivals monopolize resources before climax species establish. Fireweed invests everything in rapid vertical growth and prolific seeding, sacrificing structural strength and longevity. This r-selected strategy wins when growth rate matters more than competitive equilibrium. Fisher and Price's growth investing mirrors this: pay premium valuations for companies in rapid-growth phases, before markets mature and competition shifts to cost efficiency.