It's been a truly banner year for Wall Street. All three major stock indexes have rallied strongly from their 2022 bear market lows, with the growth stock-fueled Nasdaq Composite (NASDAQINDEX: ^IXIC) leading the charge. Through the closing bell on Dec. 13, the Nasdaq was higher by 41% for the year.

Yet in spite of this massive return, Wall Street's favorite innovation-powered index remains 8% below its all-time closing high, set a little over two years ago. Though some traders are bound to view this as a lost period for growth stocks, long-term investors will wisely see this decline as an opportunity to build their stakes in fast-growing, high-quality businesses at a discount.

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Source Fool.com