Energy Remains Structurally Under‑Owned in S&P 500
S&P 500 Energy as a share of the total S&P 500. Energy is still structurally under-owned https://t.co/d3AFCGEo9G
Geopolitical Tensions Revive Value Investing, Future Uncertain
This week in value: The Iran War Has Fired Up Value Investing. But What Next? (Bloomberg) A century of value investing (IFA) Why Value Investing Works (And Why It Has to Stop Working First) (Safal) Third Avenue Management: Small-Cap Value Strategy Overview and Insights...
Small‑mid Caps Poised to Reclaim Premium over Large Caps
Smalls and mids still trading at a big discount to large. Recovered a some of the discount but traded at a premium to large for most of the decade. Got to this level in 2022 before falling back. Question is...
Quality Small Caps Win Long-Term, Junk Rallies Occasionally
We're in a late-cycle regime where quality still dominates—but with intermittent speculative rallies. Chart shows ratio of $IWM (Russell 2000, broader, lower-quality small caps) v $VIOO (S&P 600, higher-quality, profitable small caps). → When it falls, quality small caps outperform junky small...
Housing Market Shifts to Demand Destruction, Setting up Snapback
The housing market has flipped from scarcity → demand destruction. Prices likely soften, but the bigger story is collapsed activity. This is a rate-driven cyclical slowdown, not a balance-sheet crisis. It sets up a future snapback trade once affordability improves.
S&P Valuations Near Historic Peaks; Quality Value Outshines
Where are we in the valuation cycle? * Current reading: ~+162% * That is above 3 standard deviations * Only comparable levels: late 1990s / 2021 peak * Base case (5–10 yrs): low single-digit real returns for the index * Bear case: major drawdown (-40–60%) *...
Global Small‑Cap Value Set to Outpace the S&P
Global small cap investor Mark Cooper on: * Why Global Small Cap Value Could Outperform the S&P by 25% Per Year * The Most Overvalued Stocks Since the Dot-Com Bubble? A Data-Driven Warning * Why Value Investing Still Works: The Case for Quality...
Mid‑Cap Stocks Surge, Outperform SPY Since Nov 2025
Mid caps outperformed $SPY over the last twelve months. A big recovery after the November 2025 relative low. https://t.co/258f75ybSl
Copper Cheap vs Gold; Need Eight New Escondidas by 2030
Copper is up over the last decade but trading at an almost four-decade relative low against hard money gold. Chile's Escondida mine in the Atacama desert is the world's biggest copper mine. The world needs eight new Escondidas by 2030. https://t.co/ogTy5RdE0y
WTI Oil Beats Gold Over Past Year
Wild. WTI oil now outperforming gold over the last twelve months. $oil : $gold ratio https://t.co/45PLa8stic
Small‑mid Caps Hit Cheapest 30‑year Forward Multiples
Earnings for small and mid value are inflecting up into the cheapest forward multiples over the last 30 years. https://t.co/CrYWv1Fnns
Value Investing Remains Strong Amid Market Turmoil
This week in value: Warren Buffett in Omaha – 03/31/26 | Audio Only (Squawk Pod) Bill Ackman says it’s one of the best times in a long time to buy quality stocks (CNBC) When Everything Feels Out Of Control, Value Investing Doesn’t (Forbes) Relevance...
Small Caps Reclaim Long‑Term Edge Over S&P
Small cap stocks outperformed the S&P 500 over the last 12 months (first chart). After bottoming against the S&P 500 mid-November 2025, small caps have staged a sharp recovery. This is in line with the long-term regime of smalls > bigs (second...
Quality Small Caps Outperform Junk Over Four Decades
Over the last ~40 years we've seen a structural outperformance of S&P 600 (profitable small caps) vs Russell 2000 (junky small caps) There are three cyclical peaks: * 1999: Dot Com bubble * 2021: Meme Stock bubble * 2025: AI bubble Speculative junk outperforms late...
Growth Stocks' Market Caps Five Times Value's
Market Caps of Listed Companies by Price to Book, July 1926-December 2025 Since July 1926, the caps of the companies in the low price-to-book (value) portfolio have averaged $1.3 billion, those in the medium portfolio $3.0 billion and those in the...