What is "growth investing"?

Value investors like to buy stocks trading at low multiples. Growth investors buy stocks at high price-to-earnings or price-to-book ratios because the companies are hitting all their marks currently. Starbucks still trades at a growth multiple in the 20's because the company keeps opening stores, keeps increasing revenue, and keeps increasing profits. Then again, if you read Starbucks' 10K reports, you will see under the risks section that expectations for future performance are very high and, therefore, the stock price could plummet even if the company is still making bazillions of dollars. That's the problem with growth stocks--more volatile and priced for perfection. They also pay no or low dividend yields. Starbucks only recently started paying a dividend, and today the yield is right around 1.2%. With US Treasury Notes yielding only around 2%, the Starbucks dividend yield sounds pretty good, actually. And, it offers potential for growth, meaning the share price could go up over time. Or not. Nobody knows the future. If you want safety, buy the 10-year Treasury Note and live with 2% interest. If you can live with less income now but the potential for the share price to increase, and the dividend to increase, too, buy the common stock trading as a "growth stock."