Look there is a reason Wall Street focuses on growth: the thing (company, organism, population, whatever) that does not grow will (eventually) be overtaken by t

Look there is a reason Wall Street focuses on growth: the thing (company, organism, population, whatever) that does not grow will (eventually) be overtaken by that which does, no matter how small the latter's growth rate is. So when the "market" is composed of 1000s of companies, one of the easiest ways to differentiate the good from the bad is to filter by PROFITABLE growth. Now here is the rub... "PROFITABLE" often becomes hard to define so we have long periods of time where just "growth" is used as a proxy... and at the ends of bubbles you typically have lots of companies with unsustainable growth trends being valued at assinine multiples. But again... there is a (good?) reason the heuristic exists.