One smart way to find success in the market is by investing in stocks that offer growth at a reasonable price. But the so-called "GARP" strategy is harder to execute than it sounds. After all, a lot of growth stocks, especially in sectors like software, already trade at speculative valuations that jeopardize their ability to beat the market over the long term.

For a long time, MercadoLibre (NASDAQ: MELI) was one of them. The Latin American e-commerce leader has long delivered high growth, but its profits had been minimal.

However, the company's fourth-quarter earnings report shows that's starting to change as its MercadoPago, advertising, and credit businesses, among others, gain leverage.

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Source Fool.com