Corporate governance spurs on mid-caps

For Freud it was 'id', for investors it should be 'mid'. Why? Because mid-caps are under-researched and under-owned, which makes them attractive for stock-pickers. Of course you could make the same point about small-caps. But what mid-caps offer, and small-caps do not, is liquidity. That means you can take meaningful positions, and turn performance on paper into hard cash. Some investors are positive on European mid-caps by default; they are overweight because they are negative on the broader market. Not us. We think European stock markets will be strong this year. Looking back, there ...