Subject: Re: Morning Musings
What's left is not inspiring ...

The reason might be something else I suppose, but the effect isn't just your imagination. The average quality of small listed firms is spectacularly worse than it was in previous eras in many quantitative ways. Higher debt, lower margin, and on and on.

How can smaller private investors handle this problem? Just buy indexes? Learn to value whole sectors or markets and compare them to each other? Give up??

SA