An acquaintance once told me that...so naturally, I asked him to show me what he did.
He proceeded to tell me about all the hours he spent pouring over financial statements, looking for companies that had the best chance of long term earnings growth.
A great start, but unfortunately that is when the story started to fall apart. All it took was a few strategy related questions.
Growth investing is a type of decision-making process, but it is NOT a strategy.
Now let's add strategy to the mix.
So a "growth investing strategy" is a high level plan to achieve your personal financial goals under uncertain conditions. In this case, your personal finance goals are to increase the value of the account in your balance sheet by buying companies with above-average growth in their financial metrics.
When people say they employ an investing strategy, they're usually missing the strategy part (like my friend).
An investing account is an asset (located in your personal balance sheet). Since you are "growing" the size of an asset, a growth investing strategy will serve you well.
For example, if you set a goal of $1,000,000 in a retirement account by the age of 65, then a growth strategy is the main type you'll need use to reach that goal.
If you decided that you want income from your investments, then you would be creating a new entry on your personal income statement, and an income investing strategy would be ideal.
Who = The Player (You or a Broker)
What = The Asset (Type of Investment)
Where = The Account (Retirement or Non-Retirement)
When = The Timeframe (Days, Months, or Years)
Why = The Goal (Income or Growth)
How = The Techniques (Trading Rules and Analysis)