Subject: Re: Who is having success with smallcaps?
made avdv a top 10 holding with a few buys ~$50 last year, and have been fruitlessly waiting to add.

[total return ~14%]

despite all the publicity in '2sigma' value spreads for small caps, intn'l stocks, and foreign currency exchange, it has not seemed to affect this this strategy.

have not done an attribution analysis, but :
a. this etf does not invest in unprofitable companies. consider it value that can overgrow earnings.
b. the dollar bought a ton of value in this area last summer.