Looking for value… in growth. April 10, 2026

In this episode of Motley Fool Money, hosts Scott Phillips and Andrew Page dive deep into the psychology and strategy of investing, focusing on how to find value in growth stocks rather than just chasing cheap prices. They challenge the conventional wisdom of buying low and selling high, arguing instead that the real skill lies in recognizing when a business has crossed critical thresholds—like proven technology, commercial traction, or market momentum—making it a lower-risk, higher-value investment even at a higher price. The hosts reflect on their own biases, particularly the natural inclination to avoid overvalued or 'hot' stocks, and admit they often underinvest in high-growth companies like Amazon or DroneShield, despite their long-term potential. They advocate for a disciplined, framework-driven approach: first assess the business quality, then estimate a fair value, and only then consider the market price. The conversation also touches on the dangers of emotional investing, the illusion of control in markets, and the importance of ignoring short-term volatility—whether up or down—because it rarely reflects true value. They conclude with a powerful message: success isn’t about being perfect or timing the market, but about being consistently right over time, stepping over one-foot bars instead of waiting for seven-foot ones. Key takeaways include: (1) Price alone doesn’t determine value—focus on business quality and risk-adjusted potential; (2) It’s rational to buy high when a company’s fundamentals have improved, even if the stock price has risen; (3) Avoid the 'perfect trade' trap—consistently good decisions beat occasional perfect ones; (4) Use a framework to overcome personal biases, especially when chasing growth; (5) Ignore short-term market noise, whether bullish or bearish, as it rarely signals actionable insight. The episode ends with a reminder that investing is a long-term game, and the best returns come from patience, rationality, and a willingness to act when others are fearful or greedy—not just when prices are low.