For more than 20 years I have been recommending that investors of all ages put 20% of their equity portfolios into small-cap value funds and/or small-cap value ETFs.
Last year was a great one for small-cap value investors, and those who had taken my advice had ample reason to be glad they had done so.
The average small-cap value fund (including ETFs) gained 26% in 2016. (That’s more than twice the 11.8% return of the Standard & Poor’s 500 Index
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