Cap Weighted
As we all know, the U.S. equity markets have performed quite well in the past 5 years. Since the end of 2009 through year end 2014, the S&P 500 and Russell 200 (which is comprised of the 200 largest stocks by market capitalization) have provided annualized total return of 15.45% and 15.0%, respectively...
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In the addendum from my letter on January 2, 2015, We are all in this Together, I shared quite a few excerpts from letter that I wrote in the late 1990s when I espoused considerable caution about the unprecedented valuations and expectations surrounding the then dearly loved large cap growth stocks (especially the tech and telecoms). During this same time, I also wrote about the relative appeal of other segments of the market including “value” stocks generally and mid-caps in particular...
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