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Market Capitalization: Large / Small

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Style Chart Pack: The Magnificent Five

The soft landing and rate cuts narrative is being priced out, and the S&P 500 is overvalued and getting overbought. The Magnificent Seven are about to get a new moniker on the back of performance dispersion. However, without the cohort, S&P 500 earnings would have been even deeper in the red.

US Equity Strategy by Irene Tunkel
S&P/TSX Venture: Value Trap Or Diamond In The Rough?
S&P/TSX Venture: Value Trap Or Diamond In The Rough? …
Daily Insights
Small Caps: Wait For A Better Entry Point
US small-cap stocks have benefitted from the recent improvement in risk sentiment. The S&P 600 is up 10% over the past month – exceeding the S&P 500’s gains by 5.4 percentage points after having underperformed throughout most of the past year.   …
Daily Insights
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(Geo)Political Report Card 2023

Our political forecasting scored wins in 2023 but we failed to capitalize on it adequately in our trade recommendations.

Geopolitical Strategy, US Political Strategy by Yushu Ma, Max Malakhveitchouk, Matt Gertken, Junfei Guo, Jesse Anak Kuri
Mid-Caps Are More Financially Stable Than Small-Caps
According to BCA Research's US Equity Strategy service, mid-caps underperform when spreads widen, although less so than Small as they are more financially robust and have better credit ratings. Small is the most leveraged relative to income (EBITDA) and…
Daily Insights
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Mid-caps: The Best Of Both Worlds

Mid-caps are the best of both worlds and are an excellent strategic overweight thanks to their size premium, but also better financial quality and higher dividend yield than Small. We are bullish on Mid near term and believe that this may be a great trade. We will initiate a position in the S&P 400 as a tactical overweight but will monitor it very closely.

Equity Analyzer by Irene Tunkel, Guy Russell
US Small Businesses Are Concerned
To the extent that US small businesses are typically more exposed to domestic economic conditions than larger firms, results of the NFIB Small Business Economic Trends survey are instructive. One important trend is that the October survey results…
Daily Insights
Will US Small Caps Continue To Disappoint?
US small-cap stocks have underperformed significantly this year. While the S&P 500 price index is up 14.0% year-to-date, the S&P 600 has lost 2.5%. However, this underperformance has not been a straight line down. Small caps benefited from a…
Daily Insights
Some Upcoming Upside For Small Caps?
Monetary policy is difficult to calibrate: it is hard to get it just right. The Global Investment Strategy (GIS) service has been iterating that while the Fed could temporarily achieve a soft landing, there is much uncertainty surrounding the idea that the…
Daily Insights
US Small Caps: Will The Rally Be Reignited?
After having sold off in the first five months of the year, the performance of small-cap stocks improved in June and July with the S&P 600 index gaining 13.9% in those two months. A broadening of the US equity rally – which earlier in the year was…
Daily Insights

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