One of my favorite SC managers, Jeff James of Driehaus recently posted this commentary on why SC stocks may not have earnings. I found it very instructive. I own DVSMX and DSMDX. I note a similarity with how the managers of BCSIX and BCSVX describe how they pick innovative companies, a process that results in an overload in tech and healthcare. https://www.driehaus.com/perspectives/Rise-In-Small-Cap-Non-Earners-Is-Not-Signaling-What-You-Think
My bias is toward small MF companies, small funds, and managers who explain well what they do. I had to wonder about my biases in the face of what one of Old_Skeet’s global SC choices, SMCWX, has accomplished in its lifetime. How 17 or 18 managers, running $49B, among a slew of share classes, arrive at just about the same result as one of Grandeur Peak’s best offerings, GPGOX, defies my best thinking. At least I admit that I have biases, but the facts are hard to argue with.