As for an asset manager with a Growth oriented approach, its focus is on companies that are expected to grow faster than their industry average or faster than the overall market, as measured by revenues, earnings, or cash flow. Growth investors usually look for high-quality companies with consistent growth or companies with strong earnings momentum. Characteristics usually examined by growth investors include historical and estimated future growth of earnings or cash flows, underpinned by attributes such as a solid business model, cost control, and exemplary management able to execute long-term plans to achieve higher growth. Because growth companies may also have volatile earnings and cash flows going forward, the intrinsic values calculated by discounting expected future cash flows are subject to relatively high uncertainty. Compared to value-focused investors, growth-focused investors have a higher tolerance for above-average valuation multiples. Other variations in style within the Growth Category are High Quality and Relative Value