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401k with high expense ratios and no passive index options. Help!
$PFMT: A Diamond in the Rough (Comprehensive DD) #MicroCap #PureUpside #Gains
Infrastructure stocks with new bills being passed...$SMID $CX
Mentions
This time I’ve included a few names over $5, like you guys asked. Still focusing on where the bio-hedge funds and insiders are moving, mostly sticking with SMID-caps and late-stage plays. Threw in a couple Phase 2 companies too.
Thanks, man! I’m mostly eyeing SGMT, IMTX, IOVA, CYTK, VKTX, and a few others further down the list. I’m keeping it to high-PoA plays, hedge-fund favorites, and SMID caps with at least \~15 months of cash. Always happy to chat - drop me a DM anytime!
Exciting times ahead for SMID-cap biotech! I have gotten in a few with very low valuations and plan to ride the rally. Always curious to hear what’s on your radar, too - feel free to share your picks! 
It is fascinating. And the interesting thing is there aren't many obvious ways to play it. You don't want a Japan Index because most of the growth is going to be in the SMID caps, not the big boys. There is very little passive Western penetration of Japanese SMIDs - lots of the companies don't even publish their annual reports in English.
What a bounce on the last half hr of trading. Everyone is bearish, but...let's look at megacap valuations. If we take out TSLA (uninvestable), and Netflix, ie the companies I'm actually invested in, valuations aren't really that high. After today's 5% drop at the lows, megacap tech is \~23x fwd pe. This is actually close to the 2022 lows of \~21x. SMID are actually way outperforming large cap right now, they are also cheap, hitting 14.5x. Note at the bottom of 2018, Trump's last term, SMID traded at 13x, where we're also close to. All this pretty much means buying at these levels are low enough to get decent profits 6-12 months down the line.
SMID Cap conference for ACET was highly promising. Lots of catalysts for ACET in the coming months as well. Good buy at these prices
He also offered me a SMID portfolio that has achieved a similar advantage compared to both S&P500 and Russel 2000
SMID caps running wild. I’ll take my 1% day though 
The rate cut is a big deal for biotech, especially smaller companies that need funding for R&D. And I’m really excited about AI’s role in drug discovery—it could really boost productivity and innovation. Focusing on SMID-cap biotechs with solid phase 3 assets sounds like a smart strategy. Thanks for sharing those resources; tracking catalysts is key**.**
Overall it’s pretty solid. You’re a little over-exposed to the SMID space, but if you’re happy with that risk then go for it. If you have a long time horizon and are focused on growth, I’d drop the SCHD and allocate 10% to VOO and the other 10% to international. VXUS is a solid bet to get that exposure.
it's a SMID world, and we're just living in it.
$GROW has been on a nice uptrend. Trading at 0.75x book value. SMID cap trade could produce large effects quickly.
I’m trying ticker SMID next. Looks about as promising just moves slower
SMID indices up bigly today. Druckenmiller right again.
Bought little of SMID stocks (HOOD, RIVN, WBD and RKLB). Hoping to see them participate in the rally.
Ok. I’m going to help yall out again. It’s $6/share higher since I told yall a week ago. Super low float SMID Cap pharmaceutical. $TARS They offer the only Blepharitis therapeutic on the market, massive first mover advantage. Working on getting into Asia where there’s a massive need. Whole exec team is prior high-powered Allergan execs. Word is: product hit market last August, they haven’t had to report scripts on it yet, they will in March…it’s getting prescribed like gangbusters. Also, chatter about ABBV buyout. https://preview.redd.it/u7k1zlojzoec1.jpeg?width=1290&format=pjpg&auto=webp&s=f714f8084cf1a9190bbd50b81b0bf1fe9e88dc42
i looked up all these and they are mainly foreign or large caps. So, fairly aggressive (foreign) to as aggressive as the SP500. My layman's perspective, xx = aggressive, x = SP500 index aggression. Your problem seem to be fees - with limited exception, they all look to be rather high in expense ratio's (exceptions are the Vanguard funds - thanks, jack bogle!). You seem young enough to just dump everything into the Vangaurd Institutional 500 and be done with it (i mean, monitor and get into bonds as you age, a bit off topic for this tho). If you want increased aggression. split between the Vangaurd and Blackrock Russell 2000 fund (still low ER at 0.13). 1) BLACKROCK RUSSELL 2000 FUND G1 0.13 xx 2) VANGUARD INSTL EXTENDED MKT (20%) 🔵 0.05 xx 3) EARNEST PARTNERS SMID CP CORE 0.75 4) DODGE & COMSTOCK CL X 0.51% 5) ACADIAN ALL WORLD EX-US EQ (15%) 🔵 0.45 xx 6) VANGUARD INSTL TTL INTL STOCK 0.08 xx 7) MFS INTERNATIONAL GROWTH (20%) 🔵 1.08 xx 8) NORTHERN GLBL SUSTAINABILITY I 0.29 xx 9) BLACKROCK EQUITY DIVIDEND CL M (5%) 🔵 0.70 x 10) VANGUARD INSTL 500 IND TRUST (20%) 🔵 0.05 x 11) BLACKROCK LG CAP GWTH EQ CL (20%) 🔵 0.67 x 12) T ROWE LARGE-CAP GR TRUS 0.55
I don’t know what you’re smoking. Most of the largest mutual funds out there are SPY/Index mutual funds. Then there’s Large Cap Growth, Large Value, Dividend, SMID growth/value, etc. None of these will touch bitcoin and have no reason too. Maybe… MAYBE some technology growth funds will hold a small position in it? But even that’s a stretch
Big mazels to the pork gang. A 15% uppies due to a double beat and guide up. I found brohomie on the blue bird website (Kevin Mak) who wrote a bullish as all heck write up. This'll a long copy pasta: 1) 13F's coming out - Institutions that got into PGY prior to June 30th will be posting their positions in the next few days. This is very helpful because it provides positive signaling for other institutions that are starting to look into PGY. 2) Liquidity - Average daily notional volume is around $25M, compared to less than $1m just 3 months ago. Funds now have ample liquidity to get in and out of positions in PGY if they choose 3) Analyst Coverage - All of the analysts were very positive on yesterday's call, with some new names showing up. Expect upgrades, price target increases, and new coverage in the coming weeks. 4) Market Cap - We're now firmly in the SMID market cap space which makes us interesting to a much larger universe of funds 5) Indexing - It may seem too early to talk about indexing but PGY missed the R2K inclusion by 9 cents last year. Barring a catastrophic disaster, they're absolutely going to be included in the R2K next year and that soaks up 15% of the float. 6) Earnings - The company should print a $50m+ Adj EBITDA number which is where serious investors start to pay attention. Cash/GAAP earnings will be positive shortly if you're part anti-SBC crew. 7) Cash on hand is healthy, we shouldn't expect any dilutive financings in the near future unless they plan to grow their revenue base exponentially (which they've guided they won't be) 8) Consumer credit and rates headwind are flipping to become a tailwind. Investors are seeking more access to the onsumer credit space and rates appear to have levelled off. 9) Tiger has exited their stake (substantially or completely). This was a very big negative catalyst preventing institutions from jumping in, and is now gone. 10) Note these are a bunch of the structural reasons I highlighted in my earlier article which contributes to the mispricing of PGY. These are all in the process of neutralizing, as the company sheds itself of its previous Shitco status 11)Institutional money moves slowly, but we all know it's massive, and causes large price appreciation as they VWAP into large % positions. 12)The Vanguard's, State Streets and Fidelity's are forced buyers that are largely price agnostic, and they have $0 allocated to PGY so far. Their money will go a long way in price action when (not IF) it arrives
SMID is very undervalued compared to large caps, small caps are actually still priced for a mild recession. [IJR has a 13x forward PE](https://www.yardeni.com/pub/stockmktperatio.pdf)
Never really terrible buying some megacap tech, especially when those names were on sale. Same with SMID cap stuff for me. FIX, STRL, CLH, TKR are killing for me today.
Yes, SMID cap growth specifically. Though I do still have quite a bit of META/GOOGL as well which are doing okay.
>The problem is that in most US counties, small and medium-sized financial institutions account for 90% of loans to small businesses. ....and what % of publicly traded debt ($ value, not # of separate loans issued) is underwritten / issued by these regional banks? I'm guessing the answer is......not much. Happy to be proven otherwise, but I've never seen a LTD footnote that doesn't list Wells / JPM / Citi / BAML / BarCap / UBS / HSBC / BNP / other well capitalized lender as the issuer of their RCF (or LoC or other securitized line of credit).....which renders the whole "90% of small business loans are issued by SMID-sized banks" completely moot when those loans account for an immaterial portion of all public debt outstanding sitting in pensions, retirement portfolios, 401ks, 529s, etc. >Sooner or later, they will realize the snowballing problems and begin to dispose of risky assets. What problems are snowballing? Regional banks granting higher interest rates on personal checking accounts? And which risky assets in particular? Didn't see anything in your write up about a specific asset class being overvalued or how it's connected to SMID / regional banks. >As a result, the process of ruining or collecting pennies from US bank accounts is highly likely. .....hasn't that always been the case? That's why money market funds and UST / MBS markets exist.
Yep, this is a “bull trap” if this is a big recession coming on the hells or high rates and a bank crisis. But, then again, notice how we only have a few comps for this? Well, that’s because every other damn chart that looked like today’s chart ended up being a gigantic “bear trap.” From that perspective, I’d say it’s *possibly* a bull trap, but that the outcome with the highest probability is that this is a bear trap. But who knows. Large cap equities are still expensive from a historical perspective. SMID cap are cheap. Idk how this gets resolved or what the Fed does next, but I wouldn’t get max bearish on the basis of a chart.
Lots of disagreements 1. Fed has a dual mandate, not a singular goal. Unemployment is the lowest in 50 years and that's half their job. 2. Dotcom bubble did not burst because of yields, it burst because it was a bubble. There is not always a specific thing that pops it because they're largely driven by sentiment, which is pretty violent when it reverses. 3. Your precise steps on exactly how this will play out show that you lack understanding of the volatility and unpredictability of financial markets. 4. Behind closed doors on Wall Street? Huh? Wall Street is not a singular being and if you think SMID cap public equity mutual funds are the same as distressed credit hedge funds then you have some learning to do. Boggles my mind that this stuff gets the upvotes that it does
It’s crazy to me to see you getting downvoted. David Swenson points to the benefits of diversifying into international and SMID cap stocks, and the size factor has been very well established, serving as one of the foundational factors for the Fama French model.
Interesting you’d pick VTI which has significant overlap with VOO. I’d typically add in an international fund such as VXUS and a small/SMID cap fund do provide a bit more diversification than VTI.
I am a bot. You submitted a picture of a banned ticker, SMID. The market cap of SMID is **111,413,000** This check will fire if you included unnecessary pictures that have bad keywords/phrases. Repost with the useless pictures omitted if you did that.
SM Energy * Great acreage and very efficient D&C program * Logical hedging program * One of the few remaining SMID or large cap energy companies to not yet declare a “X% of FCF back to shareholders each quarter” program - They will do this and will get a sizable bump when they do.
SMID-cap US E&P companies. SM is my favorite
Lot to unpack there. Curious about the portfolio margin stuff - although not something I’d go gung-ho into. Was at a concentrated healthcare hedgefund for a few years so I’m comfortable with leverage. Might consider doing a bit of that but nothing fancy - maybe 150% max. Interested to hear more specifics on how you manage that. At my stage I’m more capital preservation than blowing the doors off. Agree 100% on levered SPY as a periodic material weight in PA. Anything too sector specific or low quality though is probably a bit too punchy for me. Can get your throat ripped out pretty easy on say a 3x SMID RE play with a 3% expense ratio. Lol and I’ll be sure to tell my buddies at BlackStone, Och, Carlyle and Fidelity some guy on the internet says they’re ‘egotistical fools’ and not ‘actual experts’ haha
Switch to QQQ and VOO until you figure it out. I’ve enrolled in Fool.com and it was doing well until this month but still up for the year. I did but one on my own $SMID still going up.
Completely true. Small and Mid having a rough year. Diversified portfolios getting smoked by large cap. Makes me think Small and Mid will have a big year in the next 2-3. Wall Street saw this coming, most managed portfolios had less than 10% SMID exposure throughout this year
No dude, this is backwards. In 2020 every SMID-cap E&P was shitting themselves due to what happened in April. Many of their debt covenants also require a certain % of production be hedged (mostly tickers from companies emerging from bankruptcy: CRC, BRY, CHK, BCEI, etc). So they hedged at those bottom-of-the-barrel 2020A swap prices of $40 - $50/bbl Oil has consistently traded on the spot market for $70 - $80 / bbl Point being, if you hedged 2021 production in 2020, you lost money (but gained peace of mind). That's the point OP is making. It's actually super evident if you look at a company's 2021E FV/EBITDA multiple and it's materially larger than their 2022E FV/EBITDA multiple (because of fewer hedges in 2022E and significantly better strip pricing than what their hedged barrels are priced at)
Invest $6k into a Roth IRA in 1/3 QQQ, 1/3 ARKK & 1/3 PBW. Then set up $500/mo contributions into the Roth starting in January 27th and each month decide which of those funds to add to. If Cathy Wood retires or suffers a permanent brain injury, consider a different SMID innovation/tech fund. And get a better job so you can keep making the $500/mo Roth IRA contributions.
My simple approach turned $300k invested from 2001-12 into enough to build a Steve Austin ===>>> Trade less, buy high quality SMID growth on the right side of secular trends when it corrects after traders spike then bail, hold for years.
Our institutional ownership is much higher than that, but I understand the gist of what you are asking. There are a couple of factors. We have such strong retail interest, which I believe is a factor of how well TJ and AvePoint leadership have been able to explain our story, competitive differentiation and growth opportunity in an industry that can be difficult to understand. Having a broad and strong retail shareholder base is a huge positive for us as it shows that there is wide interest in our stock. There has been strong institutional interest and we anticipate following listing that more institutional investors are likely to invest. Some institutions have restrictions on owning SPACs prior to listing, but this problem will be alleviated once we complete our listing. We will have strong sell-side bank coverage for a SMID cap which should drive institutional interest post Nasdaq listing.
* A number of consumer stocks made Bank of America's "**Best SMID Cap Idea for 2021**" list. * **Aramark (NYSE:ARMK)** is viewed as a re-opening idea with a compelling post-pandemic change story. "*With the stock having underperformed meaningfully YTD and vaccine/re-opening progress gaining steam, we see this as a particularly attractive entry point ahead of what should be an accelerating revenue re-build in H2/21 (driven by sports attendance rising, in-person schooling this fall, and return to office),*" notes the firm. Aramark is rated at Buy with a price objective of 44. * **Harley-Davidson (NYSE:HOG)** is highlighted as a top SMID cap idea given accelerating brand momentum and strong dealer feedback on HOG’s launch into the on & off road Adventure Touring motorcycle category, which should support market share gains in the U.S and Europe. * **L Brands (NYSE:LB)** makes the list again on the expectation that the August spin of Victoria’s Secret will lead to multiple expansion for Bath & Body Works. "*Trends remained robust QTD following a strong 1Q where sales were up 10% vs 2019 excluding a 5% estimated benefit from stimulus*," adds BofA. The firm's $90 price objective values BBW at 12X the FY22 EV/EBITDA and VS at 5X. * **Alaska Airlines (NYSE:ALK)** is also on the list for having has one of the best balance sheets in the U.S. airline sector and holding modest net debt relative to pre-pandemic on aggressive cost and capex cuts. "*This should allow the airline to compete more effectively in a recovery and come out of the crisis in a stronger position*," reasons BofA.
Active management certainly makes sense in certain asset classes. Not every area of the market is as efficient as large cap US stocks which gives active managers an advantage. For instance, active managers have historically done well in areas like foreign large cap, foreign SMID, and small cap US stocks. You have a really good chance of finding one that can beat the benchmark in those asset classes and do it by a considerable amount.
ACMR was up almost 100% between late December and mid-Feb on no real news. Now the stock has fallen 50% in a similar time period on no real news. That’s just how SMID cap volatility works, especially when retail volumes are such a high relative percentage of the market.