Growth investing is an investment strategy focused on buying stocks of companies that are expected to grow at an above-average rate compared to their industry or the overall market. Investors look for businesses with strong potential for revenue and earnings growth, often prioritizing those that reinvest profits to fuel expansion rather than paying dividends. This approach typically involves higher risk, as growth stocks can be more volatile and may not always deliver immediate returns. However, successful growth investing can lead to significant capital appreciation over time, making it appealing to those willing to take on more risk for potentially higher rewards.