Four stocks that blend value and growth for healthy capital gains

Good stockpickers should buy both value and growth stocks, says professional investor Chris Garsten. Here, he picks four stocks that combine the best of both.

Each week, a professional investor tells us where he'd put hismoney. This week: Chris Garsten of the WavertonEuropean Capital Growth Fund picks four favourites.

The most common equity investment-style categories are value and growth. Value is based on multiples such as the price/earnings or price/book ratios rising from unjustifiably depressed levels. Growth stocks' earnings grow faster and for longer than the market, so they often trade on high multiples.

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Chris Garsten is manager of the Waverton European Capital Growth Fund