Bearish sentiment towards growth stocks arises from the realization that while these stocks have suffered significant losses, the broader economic outlook is concerning. The stock market typically reacts to economic expectations in advance, indicating a downturn before it manifests in the real economy. This predictive nature of the stock market means that investors should be aware of their investment horizon; not all investors can afford to keep their funds tied up indefinitely due to the need for regular distributions. Unlike institutions such as endowments, individual investors face time constraints that necessitate a more dynamic approach to managing their portfolios.