For the first time in a long time, investors are talking about "growth" versus "value" investing, and that's not a good thing. Well, actually, it is a good thing, but the reasons why they are talking about it are not a good thing.

On the plus side, it's important for retirement savers to understand the different uses (and abuses) of growth versus value investing (see "How a Fiduciary Should Explain 'Growth' and 'Value' Investing Styles,", April 11, 2017). Unfortunately, what's prompting this discussion is a short-term performance aberration that shows all that is wrong with SEC mandated performance reporting requirements.

Several years ago the SEC began requiring mutual funds to report calendar year performance on a one-year, five-year, ten-year, since inception basis. They thought this was a good idea because, prior to that, mutual funds were permitted to report on a fiscal year basis (just like all other publicly traded companies).

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Christopher Carosa

Chris Carosa has been writing a weekly article and monthly column for BenefitsPRO online and BenefitsPRO Magazine since 2011 and is a nationally recognized award-winning writer, researcher and speaker. He’s written seven books, including From Cradle to Retire: The Child IRA; Hey! What’s My Number? – How to Increase the Odds You Will Retire in Comfort; A Pizza The Action: Everything I Ever Learned About Business I Learned By Working in a Pizza Stand at the Erie County Fair; and the widely acclaimed 401(k) Fiduciary Solutions. Carosa is also Chief Contributing Editor of the authoritative trade journal and publisher of the Mendon-Honeoye Falls-Lima Sentinel, a weekly community newspaper he founded in 1989. Currently serving as President of the National Society of Newspaper Columnists and with more than 1,000 articles published in various publications, he appears regularly in the national media. A “parallel” entrepreneur, he actively runs a handful of businesses, including a small boutique investment adviser, providing hands-on experience for his writing. A trained astrophysicist, he also holds an MBA and has been designated a Certified Trust and Financial Advisor. Share your thoughts and story ideas with him through Facebook ( Twitter (