Sir John Templeton famously described the danger when over-exuberant investors start believing “this time it’s different.” And with the incredibly strong performance of a certain subset of leading growth stocks (i.e. the ones with very high revenue growth trajectories but essentially zero net income), a growing chorus of investors is warning of a massive bubble. In this report, we review the data behind “the bubble,” discuss what is actually happening, review volatility, investor goals, five stocks worth considering for purchase right now, and then conclude with a few critically important takeaways.