Seneca's Elston: Is now the time to invest in UK growth?

Outlook also bodes well for value investors

In his 1992 chairman's letter, Warren Buffett wrote that the investment approaches 'value' and 'growth' were "joined at the hip".

In many respects, the same can be said of 'growth' and 'income'. Companies must decide on a regular basis how much profit to pay out as income and how much to retain to generate growth and thus future income.  Even those ultimate growth stocks - the revenue-less start-ups of the 90s tech boom - were expected at some point to be paying dividends (the reality was somewhat different). So, the question about the merits of so-called UK growth really boils down to whether now is a good time for companies to invest. One of the most interesting issues at the moment is whether the real 50-y...