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Abstracted from The Australian Financial Review






Some small capitalization stocks offer value in spite of the aversion to the sector in mid-2008. Small-cap shares have fallen further than justified by slowing earnings growth. In 2007-08, the S&P/ASX 200 Small Ordinaries Index declined by 23.2 per cent, while the S&P/ASX 200 Index only fell by 16.9 per cent. Some companies, such as Service Stream, have had to assure investors that they will achieve their forecast earnings. There is little interest in small caps while the market is averse to risk. However, some fund managers believe that buying opportunities will emerge