Category: Extended Small Cap Commentaries

With seeming parallels to last year’s first quarter, the opening stanza of 2023 again heavily featured macro-driven forces resulting in a fairly volatile market, punctuated by reversals in sentiment outweighing company fundamentals.  There was even a ‘surprise’ market shock partway through the quarter – the deposit pressure-led bank ‘crisis’ that hit in early March –…

In many respects, and for many investors and market observers, 2022 is perhaps a year best put into the rear-view mirror; challenging absolute equity returns and little help from the fixed income side of many investment portfolios left some room to be desired.  To turn the year, without our usual practice of reflecting on the…

Summer quarters in the equity markets often present unique challenges, especially for small cap stocks.  Over the years, we’ve observed the summertime effects of market participants looking for economic or policy direction, investors being on vacation, and lighter volumes overall which can lead to exaggerated moves in share prices.  Even in relatively normal years, these…