Here's Why I Just Bought This "Expensive" Growth Stock

The market has gone cold on growth stocks. With high inflation, looming interest rate hikes, Russia's invasion of Ukraine, and other factors creating turbulence, the appetite for risk has changed. Investors want earnings, they want them now, and this has led to a marketwide reappraisal of how software stocks are valued.

While focusing on profitable, predictable businesses trading at low price-to-earnings multiples will make your portfolio sturdier when the market is turbulent, volatility and uncertainty have also historically created some great opportunities to buy top-tier growth stocks. I recently initiated a position in Unity Software (NYSE: U) and believe the stock is primed to be a huge long-term winner. Here's why.

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