Money managers tend to become fond of their favorite stock screens, just as baseball players tend to prefer one bat over others. One of my favorite screens is growth at a low price.

I define a GALP stock as one that shows average annual earnings growth of 25 percent or more over the past five years, yet sells for 12 times earnings or less. For the past 11 years, I’ve found this screen to be a fertile source for stock picking.

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