ClearBridge Investments, an investment management firm, published its “Small Cap Strategy” third-quarter 2022 investor letter – a copy of which can be downloaded here. The ClearBridge Small Cap Strategy underperformed its Russell 2000 Index benchmark during the third quarter. On an absolute basis, the Strategy had losses in nine out of 11 sectors in which it […]
First of all, I want to wish the entire Real Money community a Happy Thanksgiving. May you have a long, relaxing and enjoyable holiday weekend spent with friends and family. While turkey is my least favorite meat, Turkey Day always has been one of my favorite holidays.
Sometimes, a single new data point can break up the most complacent of outlooks. After 10 months of markets trending down, inflation rising, and the Federal Reserve hiking interest rates, it was only natural to assume that the rest of the year held more of the same. And then October’s inflation print broke that mold. It came in at 7.7% annualized, significantly less than the 8% expected. While still near 40-year highs, and still up 0.4% month-over-month, the October number indicates that the rat