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Take the Growth Stock Challenge

It's a good time to be a growth stock investor.

Not only have the most recent Rule Breakers newsletter recommendations been winners, but this also happens to be the third Wednesday of the month. In other words, we're now just hours away from the new monthly issue, complete with two more stock picks for the percolating scorecard.

Any growth stock investor will tell you that simply unearthing fast-growing companies and dynamic industry changers isn't enough to beat the market. Pursuing high-beta stocks only works if Mr. Market will cooperate. If share prices are falling, growth stocks are likely to fall even more.

We're not in a torrid bull market right now. Yesterday's sharp drop proves that. However, the market is starting to reward companies that are growing at the expense of their competitors, making this an opportunistic time to warm up to growth investing.

Apple (Nasdaq: AAPL  ) has soared by 61% since bottoming out at $115.44 three months ago. BlackBerry maker Research In Motion (Nasdaq: RIMM  ) has risen by 73% since smacking its January low. If you think that's something, (Nasdaq: OSTK  ) has tripled in just two months.   

The market hasn't appreciated that quickly, of course. Wall Street is simply rewarding companies that have shown resilience in the face of an economic downturn. Safe havens like banks and food companies are taking hits, given the impact of subprime lending and higher energy prices respectively. 

This brings me to the hot hand at Rule Breakers, where the four recommendations put out over the past two months have risen between 20% and 45% since being singled out. Volatility can wipe out those gains, but it sure feels good to have them over the course of a few weeks.

Those stocks are not alone. Winners from earlier this year include South Korea's leading online marketplace, Gmarket (Nasdaq: GMKT  ) , as well as timely re-recommendations for Grand Theft Auto IV master Take-Two Interactive (Nasdaq: TTWO  ) and Web delivery enabler Akamai (Nasdaq: AKAM  ) .

This isn't a slam against value investing. It is simply a nod to growth investing, which has quietly crept its way back into favor if you're buying the right stocks.

If you're up for the challenge, prove me wrong. Check out the Motley Fool Rule Breakers newsletter service -- and you can do so for free with a 30-day trial subscription offer -- to read up on the recent winners and brush up on tonight's two new picks. Let me know what you think of the recommendations and why the growth stock investing philosophy is the wrong approach for today's market.

I'll be back in a few days to go over some of the best responses.

Gmarket, Take-Two, and Akamai are Rule Breakers stock picks. Apple is a Stock Advisor recommendation. Don't miss out on the next batch of promising stocks being singled out monthly. Free trial passes are available for all of the research services.

Longtime Fool contributor Rick Munarriz wonders if South Korean bidding wars are won in won. He does not own shares in any of the companies in this story. He is also part of the Rule Breakers newsletter research team, seeking out tomorrow's ultimate growth stocks a day early. The Fool has a disclosure policy.

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