hmmm….Small Caps….

S&P Small Cap P/E’s not historically challenging.

Large Caps still up there due to high multiples in mega-caps.

If we believed the forward earnings “E” estimates in years gone by, then why does it seem ‘we’ don’t trust it today?

Small Caps were the first to peak, then the first to drop, possibly the first to trough. I don’t paint shapes of “V’s” or anything expecting a bounce,

hence, troughing is fine enough.

November 21, 2022

by Rob Zdravevski

rob@karriasset.com.au