Russel does a much better job of differentiating growth and value stocks - Charlie Bobrinskoy

Interest rates declined for 15 years (with the exception of last year). Value stocks earned their money in the near term. They don't get helped so much by a drop in interest rates as Growth companies whose earnings are 30 years into the future.

People are also interested in Growth stocks because the grow more. Growth rates.

However, growth over 10 years always lost to value, before 2005, because people want to own growth which pushes up the stockprice, so they overpay.