Small caps are cheap. Why do they keep getting cheaper!?
Many Happy Returns
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Profit Margins and Private Equity in Small Caps
This chapter explores the differences in profit margins between small caps and other sectors, speculates on the impact of profit reinvestment on margins, and debates the influence of private equity on small caps. It also discusses the reasons behind the historically low valuations of small cap indices and compares small cap indices in the UK and US.
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