As to our piece Wednesday about the ongoing Cuomo scandal, a reader writes…
“Cuomo’s indiscretions have been out there for quite awhile, not widely reported and largely ignored. It begs the question: who decided he was a pariah as opposed to the ‘corona savior’ he was portrayed as a few months ago?
“My concern with his getting the Kavanaugh treatment is that this event could happen to anyone where an example needs to be made because the end justifies the means. Makes me wonder who’s pulling the strings in retaliation?”
We think Cuomo gave himself enough rope… It’s worth repeating: FRAUD.
And speaking of the end justifying the means, another reader says: “I think the media should pay just as much attention to Jordan rather than trying to cremate Cuomo! I think Franken got a bad deal and wasn’t even proven guilty. Both of these men were doing good things for America.
“Why not pay attention to all the other bums in politics?!”
Oh, we could spend every Rundown exposing the boneheaded, unethical decisions politicians — on both sides of the aisle — make everyday. (We won’t.) Most of them have skeletons in their closets… if not entire graveyards.
Send your opinions to, TheRundownFeedback@SevenFigurePublishing.com.
Your Rundown for Friday, Mar. 19, 2021…
Shrinking Small-Cap Stocks…
“Where have all the small caps gone?” asks quantitative analyst Jonas Elmerraji. “They’ve been disappearing at an alarming rate,” he says. “Today, there are about 25% fewer small-cap stocks on the market than there were about a decade ago.
“Part of the reason is that there are fewer stocks in general. There are about half as many U.S. stock listings today versus the peak in 1996.
“And a research piece published by Morgan Stanley last year points out that 90% of the stocks that have disappeared are small- and microcap companies,” Jonas says.
“Since companies have unprecedented access to capital from private-equity and venture-capital investors,” says Jonas, “it pays to stay private…
“Morgan Stanley notes the environment over the last decade or two has made it so it’s a better payoff for a small company to be acquired by a bigger company than to go public via an IPO.”
But the biggest loser, of course, is the retail investor. “When small companies stay private longer and then skip going public, individual investors miss out on participating in the upside,” says Jonas. “Instead, all of the gains go to venture-capital funds and other private-equity investors.
Jonas says: “There’s light at the end of the tunnel…
“Cheaper IPO alternatives like direct listings mean it makes sense again for small companies to go public without paying a heavy toll to Wall Street.”
SPACs, too, might be reversing the shrinking number of public companies, enticing individual investors to pay more attention to companies with market caps below $1 billion.
In fact, Jonas notes: “Few investors realize that last year, there were more than 400 companies that went public!” he says. “Retail investors should be cheering! There’s no question having a bigger pool of investments to choose from is a good thing.
“And 2021 already looks like it’ll be a worthy follow-up, with many high-profile and some lesser-known companies already filing SEC paperwork to become publicly traded.
“The return of the small-cap stock opens up huge opportunities for investors,” Jonas says. “Stay tuned…
Market Rundown for Friday, Mar. 19, 2021
S&P 500 futures are down 6 points to 3,909.
Oil is down 26 cents, just a hair under $60 for a barrel of WTI.
Gold’s up $1.40 to $1,733.50 per ounce.
Bitcoin is up 1.3% to $58,510.42.
Send your comments and questions to, TheRundownFeedback@SevenFigurePublishing.com.
Take care and enjoy the weekend…
For the Rundown,