Miriam Gottfried

speaker

638 appearances 7 recordings 1 series first heard Jul 2026 last heard 4d ago

Miriam Gottfried’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

Recordings per month over the last 12 months — 7 in all, peaking in Aug 2026 with 4.

Appearances

newest first · ▶ plays the moment

WSJ's Take On the Week · How AI Speculation Is Fueling the Small-Cap Stock Rally · 30 Aug 2026 podcast

You know, Dan Rasmussen of Verdad Advisors, our guest today, has some interesting explanations as to why that might be happening. matched

Dan is a hedge fund manager, his firm Verdad Advisors um puts out a lot of i interesting research that is widely followed, including by me. matched

I love to read his insights and I'm really excited to have him on the show today. matched

One quick note before we launch into our interview, Dan mentions NVIDIA and Moderna. matched

And just as a disclosure to you, listeners, Verdad is long nine hundred thousand dollars of Nvidia and short ninety thousand dollars of Moderna as of last week. matched

Dan Rasmussen of our Dad Advisors, thank you so much for joining us. matched

So before we get started, since we're talking about small caps, I want to provide a definition for our listeners of what we're talking about when we talk about small caps. matched

We're defining them as US companies ranked one thousand one to three thousand by market cap, and we're defining uh large caps as the top five hundred companies by market cap. matched

So with that with those definitions, I'm now gonna launch into my questions. matched

Um so Dan, from nineteen twenty-six to two thousand seven, small caps outperformed large caps, but matched

From two thousand seven to two thousand twenty four, small caps underperformed. matched

Why did the initial outperformance occur and why did that break down? matched

Aaron Powell matched

That is so interesting that it's like the complete opposite of what it used to be. matched

But I mean, given all of that, it is really quite remarkable that over the past twelve months, small caps have outperformed large caps. matched

I looked at the numbers this morning and as of this recording, the Russell two thousand is up twenty eight percent um over the past twelve months. matched

What is causing that? matched

So it's interesting that like the AI mania that's been driving the large caps has also touched these small caps and is powering them perhaps even more, um, maybe because they're coming off a low base. matched

is this sense though that AI will somehow drive drug development and power drug development, I hear that all the time from investors. matched

So if we if we think about the rest of the small cap universe and the fact that AI is driving a lot of these unprofitable names empowering, you know, small cap performance. matched

Showing 301–320 of 638 · page 16 of 32