Global Portfolio Strategy Research
4 August 2022 One of the asset allocation decisions we research is whether to favor large-caps or small-caps within an equity portfolio. Currently, we see a stark divergence in the broad categories of indicators: the fundamentals of earnings estimates and…
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31 March 2022 Our indicators of analyst earnings estimates revisions in the US highlight a key theme: revisions for large-cap (and mid-cap) stocks have held up much better recently than those of small-cap stocks. While the proportion of analysts raising…
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3 February 2022 In our view, equity markets have been shifting toward a backdrop of higher volatility and thus more modest gains relative to the last 18 months. After an all-time high in early January, the S&P 500 recently endured…
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Among the various asset allocation decisions for which we provide guidance to clients is whether to favor small-caps or large-caps (i.e., the “size” factor) within the US equity market. In our view, small-caps do not reliably outperform large-caps consistently over…
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