On April 13th, 2024, I sent my members an email.

I told them gold had broken its ceiling…

And that what comes next could be the most lucrative gold supercycle in history.

Since then, gold has more than doubled.

But here’s the part most investors miss:

It’s not gold that makes the real money in these cycles.

It’s an overlooked “backdoor” asset that leverages the move…

And has seen gains of 846%, 1,668%, and 1,915% in past cycles.

Based on everything I’m seeing, this cycle could be even bigger…

And we’re still in the early stages.

If you want to make the most of it, the time to get positioned is NOW….

Here’s the number-one move I recommend making today.

Regards,
Ross Givens
Director of Research, Traders Agency

These 3 GARP Stocks Show Why Growth and Value Do Not Have to Clash

Author: Nathan Reiff. Article Posted: 8/29/2026.

Growth at a reasonable price (GARP) may be an overlooked multifactor investment strategy, but its combination of growth and value characteristics is nonetheless compelling. GARP stocks can be at a disadvantage during periods when a strong bull run rewards the most growth-oriented stocks, regardless of their valuations. However, during economic transition periods when high-growth names lose momentum, GARP stocks can offer a healthy balance of return potential and value.

Applied Materials Inc. (NASDAQ: AMAT), Progressive Corp. (NYSE: PGR), and PulteGroup, Inc. (NYSE: PHM) are all defensible GARP stocks for the second half of 2026, but for different reasons. As such, they may appeal to investors seeking varying balances of value and growth characteristics. Investing in all three could also provide diversification across industries and sectors, as well as across different fundamental strengths.

Applied Materials' Massive Growth Prospects May Outweigh Its Not-So-Cheap Valuation

Applied Materials has been in a favorable growth position in recent quarters, thanks to massive spending on AI chips. The company doesn't make chips; however, it does not directly compete with major semiconductor names like NVIDIA Corp. (NASDAQ: NVDA). Instead, it sells the equipment and software needed to build them, making it a key pick-and-shovel play.

The company's latest quarter delivered record performance across multiple metrics: Revenue climbed 25% year over year (YOY), non-GAAP earnings per share (EPS) reached $3.50, ahead of estimates, and management raised its guidance. Analysts expect 43% earnings growth for Applied Materials in the coming year, while the stock enjoys strong bullish support across Wall Street.

With EPS growth well above the market average, compelling free cash flow, a strengthening balance sheet, and a solid recent history of share repurchases, Applied Materials checks many boxes for GARP investors. However, its valuation is not as competitive as that of some other companies investors might consider. Trading at more than 41 times earnings, Applied Materials is not "cheap," but it is arguably reasonably priced given its substantial growth expectations. Of course, investors making a bet on AMAT are also wagering that AI hardware demand will remain strong in the coming quarters—or that the company's pick-and-shovel status will insulate it from some of the turbulence ahead.

Progressive Grows on Multiple Fronts

Insurance companies may not be the most natural growth-stock candidates, but Progressive may be bucking that trend by continually taking market share through superior underwriting, pricing discipline, and an innovative telematics approach. What's more, the company has been able to grow while maintaining underwriting profitability over sustained periods.

Significant growth in the company's policies in force pushed Progressive past 40 million for the first time in the latest quarter, despite increased competition and elevated shopping activity. At the same time, as the company moves most of its eligible insurance entities to a 3.5x premium-to-surplus ratio by the end of this year, it should have greater capital flexibility. Progressive could then use that flexibility to fund additional underwriting growth and potentially pay dividends or repurchase shares.

While Progressive's valuation is unlikely to be considered "cheap," its sustainable, compounding growth makes it a compelling option. Nonetheless, investors may want to watch for a potential slowdown in pricing or investment income, as well as changes in catastrophe losses—all of which could affect the company's competitiveness.

A Different Value/Growth Trade-Off, But in a Turbulent Industry

PulteGroup may be the most controversial GARP candidate on this list. On one hand, homebuilders like Pulte can generate impressive cash flow. Pulte's strong balance sheet, high return on equity (ROE), and history of aggressive buybacks make it a compelling option even if housing demand isn't booming. At the same time, housing is highly dependent on mortgage rates, affordability, employment trends, and other factors that could all be worsening for the industry.

This company's valuation is likely more competitive than those of the two firms above, but it may sacrifice some growth potential as a trade-off. At this stage, an investment in a homebuilder is a contrarian move for many investors. However, Wall Street is generally optimistic about PHM shares, based on 13 Buy ratings compared to only five Holds, along with a recent series of upgrades and bullish reiterations.

Pulte's significant reliance on the broader housing market may make it an attractive choice only for investors who expect that market to remain stable or potentially improve, which may be a tall order. As a value-with-some-growth-potential option, though, and in the right housing scenario, Pulte could outperform expectations.