Since you've read here that the CG portfolio can invest in undervalued companies in any country, I should add that there are no market capitalization requirements for a holding. The quest here is for value. It may be a company with a large cap, mid cap or small cap. That probably makes my portfolio "multi cap" for those categorizing such things.
The definitions for each of these might vary somewhat depending on whom you’re talking to, but usually they are as follows:
Large cap: market cap valued at more than $10 billion
Mid cap: market cap valued between $1 billion and $10 billion
Small cap: market cap valued at less than $1 billion
Some analysts break down the classifications even further to include such categores as mega cap for companies at the large end and micro cap for those at the small end.
CG takes the view that market cap definitions are largely the function of the marketing departments in mutual fund companies. They're also a neat way of differentiating between funds for services such as Morningstar.
I've found that, over the years, value tends to be found in different areas at different times. You'll find a bunch of opportunities in the small cap universe for a while, and in the large cap arena at other times. Some markets have loads of undervalued companies at all levels. And in others, like now, it's hard to find enough compelling buys to fill a portfolio anywhere.
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