# US Small Caps: Margin of Safety

Page: https://stenobird.com/podcast/the-capital-cycle-podcast-6980110/us-small-caps-margin-of-safety
Text version: https://stenobird.com/podcast/the-capital-cycle-podcast-6980110/us-small-caps-margin-of-safety.md
Podcast: [The Capital Cycle Podcast](https://stenobird.com/podcast/the-capital-cycle-podcast-6980110)
Published: 2025-05-30T08:50:00+00:00
Episode link: https://shows.acast.com/the-capital-cycle-podcast/episodes/us-small-caps-margin-of-safety
Audio file: https://sphinx.acast.com/p/open/s/66acfe26e65b9fd5b02a0fcd/e/6838c31e964166a365d45457/media.mp3
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JSON: https://stenobird.com/v1/public/podcasts/the-capital-cycle-podcast-6980110/episodes/us-small-caps-margin-of-safety
Duration seconds: 791

## Resource

The underperformance of smaller capitalisation US stocks leaves valuation multiples at historically high discounts to larger companies. Counter-intuitively, this may reverse in an economic downturn.   Edward Chancellor talks to Tom Wharram, a US analyst at Marathon. For more information, or to access select articles from Marathon’s  Global Investment Review  publications which accompany this podcast series, please visit  www.thecapitalcycle.co.uk Hosted on Acast. See acast.com/privacy for more information.

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## Transcript

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