Small is beautiful

Pippa Malmgren believes many of the best opportunities over the next few years will be off your Bloomberg screen, as in 2002-03

The current market environment reminds me of 2002-03. At that time, the markets were fully digesting the extensive bad news about the bankruptcies of firms like Enron. No one imagined seven of the nine largest bankruptcies in American history would occur in a 12-month period. Following on the heels of the dot.com bubble and the tech wreck, the general view was there was nothing left to invest in and no more technological innovation to come. Investors had no hope of a better market in future. They were wrong then just as doubtful investors are wrong now. Here are some reasons why. Mo...