John Authers, Columnist

Finding Value May Be Bigger in the Small-Caps

If the rolling correction continues, and investors look for greater safety, they may soon be selling their mega-caps.

January 20, 2022 at 5:41 AM UTC

John Authers is a senior editor for markets and Bloomberg Opinion columnist. A former chief markets commentator at the Financial Times, he is author of “The Fearful Rise of Markets.”

Procter & Gamble’s earnings suggest that the effects of inflation haven’t been fully assimilated. — Procter & Gamble’s earnings suggest that the effects of inflation haven’t been fully assimilated.
Photographer: Tiffany Hagler-Geard/Bloomberg

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Small-cap stocks’ failure to stage any kind of a rally is gaining ever more attention. The Russell 2000, the most popular measure of U.S. smaller companies, has recently dropped to a 12-month low after a long period of moving sideways: