Small Caps
Growth Versus Value Update: The Tech Effect
Have we really had a big correction in growth stocks, or is the growth index just being pulled down by the tech bust?
"Value" Performance Superiority May Diminish Or Even End Soon
Our work indicates Small and Mid Cap growth stock action is heating up. It is entirely possible that a transition to Small and Mid Cap growth leadership is already in the works.
Large Cap Versus Small Cap: Inside The S&P 500
Poor performance by Large cap technology issues had a very negative impact on S&P 500 cap weighted performers in 2000.
Tracking Shifts In Market Capitalization Leadership
Small caps and Mid caps now outperforming Big caps. A change in leadership appears to be in progress.
Small Cap Divergence...Growth Versus Value
The divergence between Small Cap Growth and Value performance continues to widen. It has been all Growth since August 1998.
Tracking Shifts In Market Capitalization Leadership
If small caps can move back above the October 1999 level in the coming months, this would certainly be encouraging for small cap fans and may even signal a change in the trend to confirm that leadership is indeed moving to the small cap arena.
1999 Performance: Big Caps Versus Small Caps
Small cap performance actually nosed out Big Cap +19.6 for Russell 2000 and +19.5% for S&P 500 (price only). Who would have believed it?
Tracking Shifts In Market Capitalization Leadership
A unique way to monitor and react to changing stock market capitalization leadership trends. This new study examines the percent of stocks lagging the S&P 500, segmented by capitalization tiers.
VLT Momentum Buy Signals...Good News For Small Cap Fans
Maybe we are too cautious about calling a turn in relative small cap performance. VLT work on Russell 2000 and Value Line now both giving buy signals.
Have Cyclicals Become the New Market Leaders?
There were unprecedented sudden and dramatic changes in market character in April. Have Cyclicals become the new market leaders? Is Value investing finally going to start paying off again? Is the extended period of small cap underperformance finally over?
The Dichotomy Continues...Big Cap Versus Small Cap
Q1 1999 following the same market script of 1995-1998, with big cap stocks, especially Nifty Fifty types, dominating smaller companies in terms of market performance.
Back on the Sidelines
Back on sidelines again, Major Trend Index negative. Stage being set for a huge small cap market.
October: Who Woulda Thought…
The evils of October vanished after the first six trading days. Small can stocks cheap relative to large caps but not cheap relative to their own history.
Smaller Caps Could Now Be Less Vulnerable Than Larger Caps
Smaller can managers are expected to see better times ahead. We predict that the next bull market will be led by small cap stocks. Historically, small caps now look fairly priced.
Oversupply of Small Cap Orphans?
More than 500 new companies were added to the Russell 2000 at the mid-year index revision. Those issues deleted from the Russell indices become “orphans”.
Small Caps Relatively Cheap, But….
Small caps cheap relative to big caps, but neither is cheap on absolute basis...Unweighted to weighted P/E comparison at record discount.
Big Cap Dominance Warping Performance Measures
Institutions' preference for liquid big caps have made it very difficult for most portfolio managers to keep up with the S&P 500 or the NASDAQ year to date.
Earnings Momentum Update...Signs of Slowdown
There are signs of an earnings slowdown especially within the big cap arena...small cap earnings have held up relatively better.
March Madness
The market finished the first quarter of1998 strong, with the S&P 500 up 13.5% and the Dow Jones flirting with the 9000 milestone. Expectations for April? More of the same. Nothing on horizon to shake individual investors’ confidence.
Is It Small Cap Time?
After weighing the pluses and minuses, it still looks like big cap leadership to us...small caps lacking sponsorship and liquidity at this point.
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