Now that the presidential election has passed, seems investors have turned their collective gaze toward many stocks otherwise forgotten earlier this year. Smaller-capitalization and less-expensive stocks have strongly outperformed over the past few months. While we might not call it the start of a durable trend, we are pleased to see these two groups seemingly respond positively to potentially stronger energy in the global economy, even as any such momentum may be bounded by the still-rampant health crisis. The surge in our favored factors is a reminder, too, that patience tends to be rewarded when it is a part of a disciplined approach to investing that incorporates multiple factors in the methodology.

Listen to CIO Mark Mowrey introduce this month's commentary:

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