Browse the world's most comprehensive database of hedge fund investor letters, sorted by recent quarter. Access primary source research from leading institutional managers.
Browse the world's most comprehensive archive of hedge fund manager letters. Access primary source research from leading institutional managers, sorted by reporting period.
Small-cap equities have entered a secular outperformance regime backed by accelerating EPS growth and 25-year valuation lows relative to large caps. While speculative, unprofitable stocks temporarily led the initial surge, disciplined exposure to profitable, low-volatility quality growth compounders provides the superior risk-adjusted vehicle for the decade ahead.
Full Quick Take
Small-cap equities have entered a secular outperformance regime backed by accelerating EPS growth and 25-year valuation lows relative to large caps. While speculative, unprofitable stocks temporarily led the initial surge, disciplined exposure to profitable, low-volatility quality growth compounders provides the superior risk-adjusted vehicle for the decade ahead.
The manager warns of extreme market concentration in AI and speculative stocks, advocating for active management before announcing their transition to ZWJ Investment Counsel as a Portfolio Manager.
Full Quick Take
The manager warns of extreme market concentration in AI and speculative stocks, advocating for active management before announcing their transition to ZWJ Investment Counsel as a Portfolio Manager.
