Growth investors buy companies whose earnings are expected to compound fast — think consumer-tech, digital, new-age retail. They accept a higher PE because they believe tomorrow's profits will be much bigger.
Value investors buy companies that look cheap versus their assets or earnings — mature businesses others have written off. Their edge is patience: they wait for the market to correct its mistake.
Neither style works in every market. Growth crushes value during easy-money periods; value tends to outperform when interest rates rise.
Beginner tip: pick one style, use it for at least 3–5 years, and only then judge whether it suits you. Switching styles based on which is hot right now almost always loses money.