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November 2022 updates?

I'm searching for the updates for Nov. 2022, usually posted at the beginning of the next month, viz Dec. 2022.
Have I missed something? (Posted 12/2/2022)


  • @StevieG2
    I would expect tomorrow, Saturday, Dec. 3. You may 'select' the 'Commentary' button in the green header bar above, to check; which will open the 'new month page', if posted, and the old month, if not yet updated. When December is posted, you will see the new date. You should also receive an email, but usually somewhat after the fact.
  • @StevieG2,

    The December commentary has been posted.
  • Re @David_Snowball #4 in the forthcoming January 2023 issue, "Identify opportunities in small caps (especially small cap value)....."

    The current Barron's has a feature story on small-caps with lots of data (but un-linkable chart and tables),

    BULLISH. Small-caps (SCs are 30% cheaper than LCs; SC R2000 has a lot of garbage and has fwd P/E 20, but excluding unprofitable companies (33%, many biotechs) & few outliers, the fwd P/E is only 12; SCs have domestic orientation and have more cyclicality; risk – recession but it may be priced in; OEFs NSVAX, WGROX; ETFs FNDA, SLY (good that IWM is not recommended); stocks BOOT, CDAY, HUBS, MGY, SAIA, SITE, STZHF, TPR)
  • Thanks, yogi. Sc funds are too volatile for my blood, anymore. I have worked to find low P/E stocks with good numbers, good prospects during 2022. I'm sticking with my current stable and growing those. Deliberately diversified by industry:
  • edited December 2022
    @yogibb, thank you for reminding us on the small cap space. Here I prefer actively managed funds. Valuation is very compelling. Indexing has too many pitfalls with unprofitable companies. I have few small positions and building on them. Historically small cap value funds outperform all other caps. Will it repeats again this time? I rather play this domestic angle than oversea companies.
  • FPA Queens Road Small Cap Value (QRSVX) is pretty much atop the pile, at least if you value long-term performance. Over 20 years it matches the S&P 500 with comparable volatility and a noticeably small maximum drawdown. Also, nice people.
  • @davidsnowball, we have been investing with QRSVX in the small cap space. Really like the holdings that Steve Scruggs selected and FPA in general. Certainly this year it has done quite well among the small cap value funds.
  • BRSVX is is on top of the pile as I measure SCV, both short and long-term.
  • Let’s hope these small cap value funds will do well in next recession.
  • It's been my experience that small caps, as a group, generally do well during certain segments of a typical bull-bear cycle. Not something that I'd consider for buy and hold "come hell or high water".
  • edited December 2022
    @Old_Joe, A static allocation would not be appropriate without taking the business cycle into consideration. That is the main reason I don’t use target dated funds since we are probably entering the matured phase of the market. I initiated several small cap funds as their valuation became much cheaper comparing to those of the large caps. So it is a value play. My plan is to build their positions in the next 6-12 months. Think I am getting off track from this trend.
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