We can debate opinions, but we can't debate facts. Every chart depicted above shows historically low valuations and significant underperformance for small cap stocks. While we are very comfortable with our view that our stocks have discounted a lot of bad news that quite simply has not occurred in 2023 maybe the news will come next year and maybe they won't. Either way, we expect the management teams of the companies we own to adapt to whatever environment we are in and we will use our collaborative and col ...