Forget Defense, Fear Makes Growth Stocks Cheap

The reason is that the stocks that paved the way were largely slow-moving value plays like Johnson & Johnson JNJ -0.85%  and Coca-Cola KO +0.86%  which have all the grace and agility of bulldozers. They have done their job, but now it's time for much cheaper growth stocks to zip past them and take markets to the next, much higher, levels.