Ariel Investments, an investment management company, released its “Ariel Small Cap Value Strategy” fourth-quarter 2024 investor letter. In 2024, mega-cap technology stocks, known as the "magnificent seven," outperformed expectations. The bullish sentiment was driven by U.S. election results, strong earnings momentum, and a robust labor market. Ariel Small Cap Value Tax-Exempt Composite decreased -0.69% gross of fees (-0.83% net of fees) in the quarter, against this backdrop, compared to -1.06% and +0.33% returns of the Russell 2000 Value Index and the Russell 2000 Index, respectively....
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