Will 1Q Rebound Lead To A Slam Dunk For Small-Caps?

Can the Rally Keep Running? Q4 hedge fund letters, conference, scoops etc Pexels / Pixabay 1Q19 - A Welcome ReboundSmall-caps came roaring back in 1Q19 (along with the rest of the U.S. stock market), as the Russell 2000 Index gained 14.6% for the quarter. The upswing followed on the heels of a [...]

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Finding Opportunities In Small Cap Banks

PM Jay Kaplan makes the case for his interest in small-cap banks. Q4 hedge fund letters, conference, scoops etc PIRO4D / Pixabay Why are small-cap banks usually overlooked? Small-cap banks I think are often overlooked. The world thinks about the big banks. They know the Citibank, the JPMorgan Chase or the investment banks, [...]

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High-Quality Opportunities In International Small-Cap Stocks

PM Mark Rayner discusses Brexit and details the opportunities created by 4Q18’s steep decline. Q4 hedge fund letters, conference, scoops etc Pexels / Pixabay Although they haven’t been as extreme as their domestic cousins, international small-caps also saw a negative fourth quarter followed by a strong recovery so far in 2019. The [...]

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Finding Opportunities In Small Cap Banks

PM Jay Kaplan makes the case for his interest in small-cap banks. Q4 hedge fund letters, conference, scoops etc cegoh / Pixabay Why are small-cap banks usually overlooked? Small-cap banks I think are often overlooked. The world thinks about the big banks. They know the Citibank, the JPMorgan Chase or the investment banks, [...]

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Market Moves And Mood Swings In Small Caps

Co-CIO Francis Gannon on why the last 90 days’ of small-cap returns may have more to do with investors’ moods than fundamentals. Q4 hedge fund letters, conference, scoops etc StockSnap / Pixabay After losing 22.1% from 8/31/18-12/31/18, the Russell 2000 Index looked poised for some kind of rebound as we entered 2019, [...]

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Where Is The Consensus Mistaken?

Four small-cap specialists discuss where they believe the current investment consensus is mistaken. Q4 hedge fund letters, conference, scoops etc Image source: Wikimedia Commons Chuck Royce: Focusing Too Much On Short-Term Rates In this decline that started in early September, interest rate conversation took on a high profile. Everyone wanted to debate: Did [...]

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Making Sense Of The Small-Cap Decline In 3 Charts

Senior Investment Strategist Steve Lipper analyzes the recent decline through style, dividends, earnings, and cyclicals. Q4 hedge fund letters, conference, scoops etc Can you help us situate the latest decline in its historical context? While there are many things about the decline in 2018 that might have felt abnormal, from our perspective [...]

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Navigating The Volatile Small-Cap Market

Chuck Royce and Co-CIO Francis Gannon look at the recent decline and make the case for why active management looks poised to do well going forward. Q3 hedge fund letters, conference, scoops etc StockSnap / Pixabay Francis Gannon: So Chuck, why don’t you tell me about the decline in the market last [...]

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Finding Small Cap Opportunities Amid A Historic Downturn

Portfolio Manager Chuck Royce and Co-CIO Francis Gannon recap the historic 4Q18 downturn and discuss how they’re navigating the current environment. Q3 hedge fund letters, conference, scoops etc How did 2018’s fourth quarter stack up historically with other poor quarterly performances for small-caps? Francis Gannon The Russell 2000 Index declined 20.2% in [...]

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Finding Small-Cap Opportunities Amid A Historic Downturn

Portfolio Manager Chuck Royce and Co-CIO Francis Gannon recap the historic 4Q18 downturn and discuss how they’re navigating the current environment. Q3 hedge fund letters, conference, scoops etc How did 2018’s fourth quarter stack up historically with other poor quarterly performances for small-caps? Francis Gannon The Russell 2000 Index declined 20.2% in [...]

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4Q18 Small-Cap Investment Update

One of Small-Cap's Worst Quarters in 40 Years Just how bad was the correction in 2018’s last three months when the small-cap index declined 20.2%? This decline’s depth, breadth, and downward velocity were all notable, if not historic. Within the Russell 2000 Index, 89% of the companies had a negative [...]

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What Do An Aging Cycle And Rising Rates Mean For Small-Caps?

Co-CIO Francis Gannon discusses rate hikes and where we are in the current cycle. Q3 hedge fund letters, conference, scoops etc If you’re looking for value stocks, and exclusive access to value-focused hedge fund managers, check out ValueWalk’s exclusive value newsletter, Hidden Value Stocks. Image source: Wikimedia Commons What’s your perspective on where [...]

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4 Small-Caps With Quality Fundamentals

PM Lauren Romeo discusses finding opportunities in the recent downturn and what she likes about four current holdings. What is your take on the recent market downturn? Downturns are never pleasant in the short run. However, at Royce we always try to put cash to work when share prices are falling [...]

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How A Cautious Manager Is Handling A High Priced Small Cap Market

Charlie Dreifus discusses his self-governing discipline around cash and how changing consumer behavior has affected his picks in that area. Q3 hedge fund letters, conference, scoops etc If you’re looking for value stocks, and exclusive access to value-focused hedge fund managers, check out ValueWalk’s exclusive value newsletter, Hidden Value Stocks. mohamed_hassan / [...]

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Small Cap Opportunities In Tech

PM Bill Hench on the current state of tech and how his outlook on semiconductors differs from the Wall Street consensus. Q3 hedge fund letters, conference, scoops etc If you’re looking for value stocks, and exclusive access to value-focused hedge fund managers, check out ValueWalk’s exclusive value newsletter, Hidden Value Stocks. Tumisu [...]

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Small Cap Opportunities In Tech

Portfolio manager Bill Hench on the current state of tech and how his outlook on semiconductors differs from the Wall Street consensus. Q3 hedge fund letters, conference, scoops etc If you’re looking for value stocks, and exclusive access to value-focused hedge fund managers, check out ValueWalk’s exclusive value newsletter, Hidden Value [...]

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How A Cautious Manager Is Handling A High Priced Market

Charlie Dreifus discusses his self-governing discipline around cash and how changing consumer behavior has affected his picks in that area. If you’re looking for value stocks, and exclusive access to value-focused hedge fund managers, check out ValueWalk’s exclusive value newsletter, Hidden Value Stocks. Q3 hedge fund letters, conference, scoops etc Pexels / [...]

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Will Earnings Strength Lift Small-Cap Cyclicals?

Co-CIO Francis Gannon on why ongoing earnings strength for small-cap cyclicals is bolstering our confidence. Q3 hedge fund letters, conference, scoops etc If you’re looking for value stocks, and exclusive access to value-focused hedge fund managers, check out ValueWalk’s exclusive value newsletter, Hidden Value Stocks. Since its most recent peak on 8/31/18—which [...]

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The Case For Allocating To International Small-Cap Stocks

Putting International 
Small-Caps On the Map Our goal in this paper is to provide an introduction for asset allocators to the international small-cap asset class by detailing its attributes in terms of performance, volatility, correlation, and fundamentals. Q3 hedge fund letters, conference, scoops etc   If you’re looking for value stocks, and exclusive access [...]

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What’s Driving Strong International Small-Cap Performance

David Nadel discusses holdings in Japan, Australia, and the U.K. while offering his long-term perspectives for international small-caps and our Quality at a Reasonable Price (‘QARP’) approach. Q3 hedge fund letters, conference, scoops etc If you’re looking for value stocks, and exclusive access to value-focused hedge fund managers, check out ValueWalk’s exclusive [...]

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What You May Not Know About Small-Cap In 5 Charts

Steve Lipper reviews research showing shifts in volatility, style, and cyclicality. Q3 hedge fund letters, conference, scoops etc If you’re looking for value stocks, and exclusive access to value-focused hedge fund managers, check out ValueWalk’s exclusive value newsletter, Hidden Value Stocks. What three research insights caught your attention? So we recently completed some research into the [...]

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