Generally, variations in earnings aren't nearly as impactful on glamour growth stocks as are changes in image and, well, sexiness. I often think of glamour stocks as though they are attractive women dressing to the nines.

I've long loved emerging markets airlines because they usually sell at bargain prices. The troubled history of developed market airlines unfairly taints these stocks. In the emerging world, they're growth stocks.

Earnings growth has been surprisingly low for drug stocks and there is more of that to come as we go through a cycle of patent expirations. But I think the stocks are close to being washed out and if you have patience they will do quite well over a longer period of time.

Earnings growth has been surprisingly low for drug stocks and there is more of that to come as we go through a cycle of patent expirations, ... But I think the stocks are close to being washed out and if you have patience they will do quite well over a longer period of time.

There are no good or bad stocks. The company is either good or bad. Stocks are just stocks.

Having different types of stocks in your portfolio can enhance returns.