It’s Déjà Vu All Over Again – Yogi Berra
In a client letter I penned on January 10, 1998, I wrote, "As was the case in 1995 and 1996, large capitalization stocks (S&P 500) outperformed their smaller cap counterparts (Russell 2000) for the year and three months ended December 31, 1997. Indeed the last three years can be characterized as an era when ‘bigger was better.’ … Close observation of the market reveals that changes in leadership between various sectors are the norm."
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