Uniplan Micro Cap Portfolio Flash Report - pdf click here "Every virtue carried to the extreme, is a vice." ~Aristotle At our investment policy committee meeting in 1Q23, we summarized the relative valuation disparity between Micro Cap stocks and their larger S&P 500 brethren.  Our conclusions were as follows: Executive Summary: The Equity Risk Premium looks unattractive for large stocks but highly attractive for small stocks. Historically, small stocks have provided higher returns than large … [Read more...]

                                                                                                       Micro Flash Mid 2021 Q4 - Pdf Click Here Uniplan Micro Cap Strategy Q4 2021 Mid-Quarter Flash Report "Often the difference between a successful man and a failure is not one's better abilities or ideas, but the courage that one has to bet on his ideas, to take a calculated risk — and to act." -Maxwell Maltz Micro Cap market volatility moved higher since our last note in August as the risk-on risk-off trade continues to modulate across the small and micro cap space.  Since our last … [Read more...]

                                                                                                 Micro Flash Mid 2021 Q3 - Pdf Click Here "Avoiding danger is no safer in the long run than outright exposure. The fearful are caught as often as the bold." -- Helen Keller Micro Cap market volatility moved higher since May, as the risk-on risk-off trade modulates across the small and micro cap space.  Since our last mid-quarter report, the global economy has continued its rebound from the pandemic while the rise of the Delta variant has been a cause for growing concern and the US domestic … [Read more...]

                                                                                                       Micro Flash Mid 2021 Q2 - Pdf Click Here   Micro Cap market volatility had increased dramatically since our last mid-quarter report as the global economy rebounds from the pandemic and the US domestic economy struggles with the challenges of reopening.  The preliminary estimated results for Uniplan Micro Cap Portfolio as of March 31, 2021 are as follows: The portfolio has lagged the broader micro cap universe benchmarks due to our underweight position in the strongly … [Read more...]

                                                                                             Micro Cap Flash Mid Q1 2021 - Pdf Click Here NO ONE SAID IT WAS GOING TO BE EASY! It is mid-March and we have yet to release our year-end Micro Cap Portfolio Flash Report.  This is normally the edition where we would look back at the prior year and recap our portfolio and cite the “winners” and the “losers” and discuss themes and strategy for 2021. We will touch on those items in our next note. However, the present market conditions are ostensibly so unique that it seems only appropriate to … [Read more...]

                                                                                                             Micro Flash Q3 2020 - Pdf Click Here                                                                                                       “I was reading in the paper today that Congress wants to replace the dollar bill with a coin. They’ve already done it. It’s called a nickel.” ― Jay Leno   Summary for 2020 Q3 – The Fed Signals a Shift in Policy After a strong rebound of over +26% during Q2, the Micro Cap portfolio continued its move during Q3 advancing +10.8% vs. … [Read more...]

                                                                                                              MICRO Flash Q2 2020 - Download Pdf   “The world as we have created it is a process of our thinking. It cannot be changed without changing our thinking.” ― Albert Einstein  “Everyone thinks of changing the world, but no one thinks of changing himself.” ― Leo Tolstoy  Summary for 2020 Q2 – The Covid-19 World Continued… For the year-to-date period ended June 30, 2020, the investment results for the Uniplan Micro Cap Portfolio are as follows: Slow Motion in a … [Read more...]

                                                                                                                                                                                                                               Download Pdf “Someone, somewhere, is making a product that will make your product obsolete”. – Georges Doriot Summary for 2019 Q4 For the year-to-date period ended December 31, 2019, the preliminary estimated investment results for the Uniplan micro cap portfolio are as follows: We are pleased with the robust level of operating performance across … [Read more...]