My entire career I’ve been told by the old timers that many of their biggest winners have come from Mid-caps.
That always stuck with me, to the point where when we win in mid-caps, it always hits me, “Those guys were right!”
To be clear, the traditional definition of a Mid-cap stock is between $2-10 Billion in Market Capitalization (Market-cap = shares outstanding x price of the stock).
I honestly don’t know how long that’s been the definition, or who’s in charge of making that up. But I will tell you that I don’t remember a time when that wasn’t the definition.
And I’ve been around a couple of decades already.
So is anyone factoring in Mid-cap inflation these days? [Read more…]