Category: Extended Small Cap Commentaries

Historical commentaries are available upon request, please e-mail

Extended Small Cap – Q1 2023 Commentary

April 25th, 2023
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 –…

Extended Small Cap – Q4 2022 Commentary

January 27th, 2023
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…

Extended Small Cap – Q3 2022 Commentary

October 21st, 2022
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…