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Small Cap Picayune is a daily newsletter about small cap stocks. We provide value in three distinct ways: 1) Comprehensive small cap data and analysis
2) Small cap portfolio insights
3) Small cap stock discussions We are the premier resource for comprehensive small cap data and analysis. We produce regular reports and analysis on trends shaping the small cap universe. We believe it is the best work of its kind. Recent projects include work on the Aging of Small Cap Stocks, the effect of Lockup Expiration on recent issues, and how to use EV/Sales to avoid stocks that are priced for perfection in an imperfect world. These projects provide a framework for how to think about small cap stocks as distinct from large cap stocks. Also, we produce daily and weekly performance analysis, quarterly earnings analysis and Russell Reconstitution supply/demand projections. Second we make insights to assist with broader small cap portfolio decisions. This includes model sector weights (mainly targeting portfolio managers), large cap vs. small cap relative trades, and factor exposure insights. We generate these views by monitoring fundamental trends using original research and our SCP Factor Baskets to help identify what is driving performance among small cap stocks and where future opportunities may lie. Finally, we discuss small cap stocks to generate new ideas from a group of stocks often overlooked by the analytic community. We focus on fundamental analysis but are also deeply attuned to liquidity events such as IPO lockup expirations, the Russell Reconstitution, ETF adds/deletes and short interest changes. Recent discussions include ShakeShack, a fascinating portrait of the unique vulnerability of small cap stocks to technical pressures. We have skin in the game, and we disclose our new relevant positions as we take them. We would not expect clients to enter trades based on our insights that we ourselves have not done.
The Picayune is read by traders, analysts and portfolio managers at the largest and most influential small cap mutual funds, hedge funds and pension funds in the world. We also serve RIAs looking for differentiated ideas for their managed accounts as well as active individual investors.
Robert Selzer started his career as a Sales Trader at Sanford Bernstein before joining Goldman Sachs in 2000 with a focus on small and mid cap stocks. He began writing about Small Cap stocks for a broad audience in 2010 from a position on the institutional equity trading desk at Goldman Sachs. For information about subscribing to the Picayune, please contact Robert at
Small Cap Picayune, LLC
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