[NajdorfDefense]

'James dispels what he calls an urban myth that small caps tend to outperform large caps. If you disentangle the size and value effects the difference goes away'

This is silly, the 'size effect' is the whole point of the outperformance, no?

I will vouch that the 'small-cap' effect should really be called the 'micro-cap' effect, as the majority of it resides in the smallest 10% of smallcaps. But as long as you're not an institution, that shouldn't affect you much.