US election take 3: Small is bountiful

In this week’s podcast Guy Foster, Head of Research talks to Bill Hench manager of the Legg Mason Royce US Small Cap Opportunity fund. After a period which has been dominated by large-cap growth we discuss where the opportunities may lie in an economic recovery. How optimistic about the economy do we have to be in order to be confident about making money in normal companies? What are the best areas to capitalise on a return to normal?