This should be the growth investor’s moment. After lagging for all of this decade, growth investors – who look for stocks with rising profit – have beaten the market this year. With fear rife in the markets, many brokers say this is the time to go to growth.

That co-exists with the belief that now may be the moment for value investors, who buy stocks that are underpriced compared with their underlying value. Times of turmoil give them an opportunity. Wilbur Ross, a veteran “vulture” value investor, has told the FT he is looking at US subprime lenders.