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Goldman: Buy Netflix, Nvidia and other growth stocks as higher rates stifle earnings

Goldman Sachs is encouraging clients to invest in high-growth stocks, predicting that higher interest rates in 2018 will cause earnings expansion to slow, therefore placing a premium value on fast-growing companies.

"The majority of the recent market rally has been driven by higher earnings rather than valuation expansion," wrote Goldman Sachs chief U.S. equity strategist David Kostin. "Going forward, we expect growth...