Bull and Bear Served at Fund Manager Dinner

Grantham, in response, questioned some of the data but didn't dispute the point completely. Stay tuned.

Meanwhile, the pair agreed on one thing. Large company "growth" stocks, they both said, are now much, much better value than the smaller company and "value" stocks everyone has been buying for the last seven years.

For these two to agree on anything is an event. If the past is any guide, it usually means they're right.

That would seem to be a good case for State Street's Large Cap Growth (ELG Quote) exchange-traded fund, which you can buy and sell like an ordinary stock. It closed Monday at $54.07 and has a 1.05% yield.

The ETF holds a basket of the biggest "growth" stocks. Top holdings are Microsoft(MSFT Quote), Procter & Gamble (PG Quote), Johnson & Johnson (JNJ Quote), Cisco(CSCO Quote), Wal-Mart (WMT Quote), Berkshire Hathaway (BRKA Quote), Pepsi(PEP Quote), Google(GOOG Quote), Time Warner (TWX Quote) and Comcast(CMCSA Quote).