There are two popular investment paradigms called value investing and growth investing. In short words value investors are hunting for companies with low price-earning ratio, price-book value ratio and just cheaply priced stock. Growth investors intend to buy stocks of companies that have fast earning growth and whose stock price are bidded higher relative to its history earning than its peers who are expected lower growth.

When the word investor is referenced here, it inherently means the type of the intelligent investor that Benjamin Graham explained in his same named book first published in 1949. There is no short-term investors since short-term and investor are contradictory. So here we can now claim that to an investor there is no distinction line between value investing and growth investing. An investor considers a company's intrinsic value as all discounted future earned cash that belongs to the company's shareholders. That inherently implies he needs to take growth factor in consideration to estimate its future cash flow. After the intrinsic value is cut further by the margin of safety, it results in the final price of the company he would like to buy at, which clearly indicates a value investing style of strategy.  So they are indispensable in an investor's decision process. Longer term the investment will last, more weighting of influence will go to growth factor.  So the big value comes from sustainable growth companies. What to buy is more important than when to buy. Don't get me wrong here, I didn't mean when to buy is not important since the investor will buy the stock only when the its ask price is below than what is estimated as intrinsic value per share.