RupeeCase
Education . The Size Factor . 1 of 3
The one everybody believes
"Smaller companies pay you more."
I ran our own shelf. Smaller paid less.
What the story says
More
Small beats big
The oldest hook in equities. Go smaller for the bigger number.
but
What the backtest says
Flat
Return barely moves
Down the size ladder the return sat still. Only the drop got deeper.
The part nobody prints
The size premium is the flakiest factor in the book. It half vanished the year after it was found in 1981.