Give me five

While investor attention remains fixated on large caps, the valuation gap with small caps has reached historic extremes. In the U.S., the combined market value of the five largest companies now exceeds that of the entire Russell 2000 index by a factor of five — an unprecedented level.

This imbalance creates fertile ground for long-term investors like us. Across both sides of the Atlantic, small caps offer overlooked value and re-rating potential.