Masters in Business · Friday, August 14, 2026
Ankur Crawford explained that Alger's approach to growth investing is centered on identifying 'change' within companies, rather than just 'growth' itself. This change, whether in unit volume or life cycle, is seen as the primary driver that begets growth. She highlighted two key pillars: high unit volume growth and life cycle change, the latter often involving companies that are misunderstood or undervalued due to strategic shifts.
“I think what makes us interesting as growth investors is that the fundamental thing we look for is not necessarily growth. It is change.”
“And the change begets the growth right, So the growth is an output of the change, and I think that's an important differentiator because it's not just expressed as let's do a screen and find the companies that are growing the fastest. It is let us look for the change, because where there is change, there is often unidentified opportunity and because of that, we will get the growth.”
“ Oftentimes we like to show this this it's almost like an S curve of you know, we like to invest in the companies that are early on in the S curve and companies that have already gone through the S curve. They're kind of saturated out of their markets and they're starting to question who.”