Small Value Roars Back
It’s only been a couple months since I was encouraging patience with small cap value based on past examples of quick turnarounds in relative performance. At the risk of sounding like a rooster taking credit for the dawn, I am comfortable saying that July’s US small cap value resurgence was a welcome development.
This story has been deservedly covered in the media, and here are my favorite stats for performance of small value versus large growth based on returns for the Russell 2000 Value Index and Russell 1000 Growth Index.