Raphael Lamm and Mark Landau of under-fire fund manager L1 Capital are sticking to their bet that the run of Australia's growth stock darlings cannot continue and that the extreme divergence of growth and value stocks is an "extreme opportunity".

Australian stocks that are growing earnings by more than 20 per cent trade at almost double the valuation of comparable stocks in the rest of the world,  and have delivered a one year return of 62 per cent compared to the one per cent global average.