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Dec. 18, 2007, 8:10 a.m. EST

Growth stocks are at reasonable valuations; value stocks lack growth

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Louis Navellier, president of the Navellier funds and editor of the Blue Chip Growth Letter and Emerging Growth Letter, says that the current stock market is "very narrow," with leadership coming from just a few sectors. While some investors are bargain-hunting in financial services and real estate, Navellier said in a radio interview that he's avoiding domestic financials completely, because "even when you find a good one, there's no buying pressure." Instead, Navellier favors defense, health care and resources companies right now.

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