The relative performance of our favored equity characteristics have set a few records over the past year, with small-cap and value-oriented stocks having found renewed favor among investors. Perhaps that should not come as a surprise, given the lengthy period of underperformance that both factors had and still have been experiencing. Despite the nearer-term relative gains, we think both slices of the stock universe have legs to run. Not least among the reasons is the fact that longer-term gaps in performance and valuation relative to their large-cap and growthier peers remain. History, too, provides evidence that we might not want to guess a going-forward slackening in comparative gains just yet. 
 
 
 
Listen to this month's podcast from CIO Mark Mowrey: 
 
 
 
 
 
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Risk Is. Return Might

Statera's Chief Investment Officer, Mark Mowrey, provides additional perspective on this month's commentary. Importantly, this commentary is not presented as an investment recommendation. The approach described may not be right for everyone. No one watching or listening to this commentary should take our comments as advice specific to or appropriate for their individual situation. Individual circumstances should be taken into consideration when determining a suitable investment approach. All investing carries risk.