“Thanks for the laugh. I needed that,” Jeff V. says about last week’s pre-Thanksgiving “Talking Turkey” issue. 

A quick reminder…. 

Courtesy: AFBF

“I take this as a challenge, and I will see how it goes… 

“However, I live in California. If I tried to treat 10 of my friends and relatives this year to a Thanksgiving feast spending no more than $61, I suspect they would decline my invitation to next year’s feast! 

“Perhaps the AFBF meant a potluck… with each of the 10 spending $61? Or maybe we’re carpooling to the free Thanksgiving meal at the Salvation Army, spending $61 on gas or an electric charge?” 

Meanwhile, Steve S. writes: “Louisiana has the second-lowest prices in the country, primarily because things like sweet potatoes and the bird itself are homegrown. A fresh turkey is 1.99 per lb. Frozen: 79-cents per lb. This is apparently one of the perks of living in Hurricane Alley.

“With some money saved, maybe we can make a trip to the French Quarter for a couple of cocktails — if only it were safe in downtown New Orleans.” 

We’ll have another round of Thanksgiving receipts on Friday… 

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Your Rundown for Wednesday, November 29, 2023...

The Case for Small Caps

“While other investors are obsessed with mega-cap tech stocks,” says our income-investing ace Zach Scheidt, “small caps provide a compelling opportunity in today’s market.”

To define our terms, small-cap stocks are worth (or have a market capitalization) between $250 million-$2 billion. For further context, Zach normally favors large to mid-cap stocks. 

“Given today’s investment landscape,” he continues, “they’re simply too good of an opportunity to ignore. Here are a few reasons why small-cap stocks deserve a spot in your portfolio…

“First, small caps are historically cheap,” says Zach. “According to data from Bespoke Investment Group, many small-cap sectors currently have over 20% of stocks trading below book value.

“Admittedly, some of the companies have serious issues. But there could be some winners among them, and the market is simply failing to recognize their intrinsic value and future profits.

“Buying these stocks at fire sale prices sets you up for strong returns when the market eventually realizes its mistake.

“Small caps are also beginning to rebound,” Zach adds. “The Russell 2000 Index, a benchmark for small-cap stocks, dropped nearly 20% between the beginning of August and the end of October.

“But it has shown impressive strength in November, rallying powerfully off its lows. As investors, it’s practically impossible to predict when a downturn will run its course.

“With stocks still trading at dirt-cheap prices compared to their earnings potential, I believe this rally has a long way to go.

“Finally, small caps help diversify your portfolio,” Zach notes. “Large companies have driven much of the activity on Wall Street this year, but it’s only a matter of time before investor sentiment changes.

"If and when mega-cap stocks roll over, the major indexes weighted heavily toward them will fall as well.

“But if you allocate a portion of your portfolio to small-cap stocks before this happens, you’ll balance your risk and smooth out your returns.

“Bottom line,” says Zach, “attractive valuations, high growth potential and diversification benefits make small-caps one of the most promising investment opportunities heading into the end of the year.” 

[A quick note: Zach’s model portfolio has made 190% returns… during the worst market in a half-century. Paradigm’s macro authority Jim Rickards even considers Zach one of his most trusted financial contacts. 

And since we’re reaching a critical juncture in the U.S. — with over 1.5 million Americans having been forced to unretire (to name just one recent hair-raising statistic) — you’d be prudent to watch this timely warning. Nothing short of your ability to retire is at stake.]

Market Rundown for Wednesday, Nov. 29, 2023

The S&P 500 is up 0.65% to 4,585. 

Oil is up 1.15% to $77.30 for a barrel of WTI. 

Gold is up about 0.10% to $2,043 per ounce, according to Kitco. 

And Bitcoin is down 0.50% to $38,000. 

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